Today’s consumers expect interactions connected and personalized as standard, and the best financial companies can do so while they retain customer loyalty.
To achieve positive results, the most sensitive stages of the client’s trip, such as collections and invoices reminders, it is essential to generate trust and provide support to customers in the right place and time.
For financial service companies, the delivery of personalized communications is quickly becoming a competitive need. In fact, a recent JD Power study found that 78% of respondents would continue to use their bank if they received personalized support.
But there is a disconnection to address, only 53% of traditional banks believe that they are really focused on the client compared to 80% or native digital fixing organizations. And it is a gap that will be expanded until companies train their employees to create and offer personalized and compassionate experiences at scale.
In this blog, we will explore what is possible when you use solutions from the communications platform as a service (CPAA) to create custom customer communication trips to promote timely payments and help the customer altitude instead of being pursued.
Deliver compassionate support on any channel
Financial Services Companies face increasingly complex regulations pressure, such as the Consumer Credit Law (CCA), GDPR and PSD2. These regulations require organizations to take measures to safeguard customer data and loan rights. But companies must also be more careful to protect the client from financial crises, especially economic uncertainty times.
With 67% of Americans concerned about the cost of living, and the global cost they live increases by 8% only in 2022, millions of consumers worldwide have to immerse themselves in advances or reduce spending. And for many others, that can mean new lines of credit or reassess how and when they pay recliners.
To support customers through this difficult time and minimize the risk of revenue loss: pay to create empathic trips using automatized alerts, remembered and two -way interactive chats based on contextual triggers. But handling the thesis challenging customer interactions is difficult if you do not have the latest tools available.
Many financial service companies are using CPAA cloud solutions that are easy to use as webx Connect to create journeys of drag drag drag drag. And when integrating with the channels that their customers use the most, these solutions can help you direct the interactions so that the sides from one channel to another are moved.
In addition, by using natural language processing (NLP), the understanding of natural language (NLU) and AI automation, you can create chatbots to quickly satisfy customer requests. You can also connect your chatbot to external systems to ensure that you can obtain relevant details of the client, verify the availability of appointments and other value ideas to warn.
When effective is implemented, this saves a valuable agent time better dedicated to more sensitive and financial lucrative interactions and operating cost reductions by eliminating the need to hire additional equipment to transmit interactions of routine customers.
If your service agents must take care of a chatbot or communicate with a client, they can use customer participation applications as part of their CPAA solution. This provides a unique board for total visibility over all past and present interactions, including customer details, advanced reports and multichannel tail.
But how do you see this in context? This is how your CPAA solution can improve agent’s efficiency and nourish confidence by managing sensitive economic interactions.
Reduce risk and generate trust with ‘promise of payment’ alerts
Let’s be realistic, the client can be intimidated by collections and equally trapped by sudden payment requests if they have not remained aware.
When sending automated alerts of ‘Heat heating’ in advance, it can help customers better prepare for the next collections and payment consultations. Webx CPAAS solutions also allow their service agents to use NLP and NLU so that customers can confirm or reschedule the call date through the text chat, or talk to a live agent on the channel.
For example, you can send them a variation of the following message: “Let’s call it soon [DATE]. Is this a good time for you or would you like to reprogram? Answer the call to rerrage, or agent to speak with a live assistant. “
Similarly, our multichannel program of ‘promise to pay’ can automate payment reminders and provide customers with the option to pay on channel, confirm that they intend to pay in the next seven days, defer payment or contact a live agent.
Of course, no client is the same, and although some can respond immediately, others may lose multiple payments or ignore their alerts completely. That is why your CPAas solution customizes each interaction based on customer profile data, such as your favorite channel, adapts to participation and vulnerability. You can also perform A/B tests experimenting with differential language to see what you get the best results.
For example, if a customer loses multiple payments, you can send more frequent reminders or offer access to professional financial management resources. In addition, webx Connect can be integrated with the latest payment solutions in channels so that customers can pay without leaving the chat or directing them to their preferred payment method.
And it also works. Our research shows that 85% of respondents made a payment within seven days after the introduction of an interactive scheme of promise SMS to pay. And SMS call heating messages saw the collection rates increase for the first time from 20-30% to 50-60%.
Unique financial leaders who transform the customer trip
It is time to promote flexibility and train their employees with the tools and ideas they need to orchestrate powerful and empathic trips of customers.
And with our simple “promise to pay” solution, it can increase cash flow, reduce the risk, reduce the costs of the call center and foster confidence through intelligent automation and flexible interactions of the client.
For more information, explore the webex CPAA Solutions and Financial Services support page, or contact one of our experts.
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