Opportunity or Necessary Evil
for Banks and Financial Service Providers?
“The lesson in the banking industry and financial services is you have to stay constantly focused on customer experience.”
— Bruce Temkin, Forrester’s vice president and principal analyst for customer experience
Banks, mortgage lenders, credit card providers, credit agencies and investment firms — all are intensively challenged at multiple levels. Clients are increasingly savvy and demand a perfect customer experience at a low price, and you have to deliver upon this since trying to win them back after you’ve lost them is extremely difficult. National and international regulations constantly change, and they often create an extra burden for budget and manpower alike. The market becomes more and more aggressive, with competition coming from traditional national or foreign competitors and more recently emerging competitors such as Internet banks and online comparison websites.
Banking and Financial Industry Customer Communications
This complex and difficult situation requires tools to support your internal processes. In addition to direct and personal interaction with your on-site or call-centre teams, customers and prospects still receive an abundance of written communications. Here are a few examples.
- Direct mail
- Welcome kits
- Bank account statements (cheque accounts, savings accounts, money market accounts, etc.)
- Consolidated bank account statements
- Financial plans
- Investment statements
Even if more and more of these documents are available on-demand and/or distributed electronically (via e-mail or secure web pages), several are still printed and physically shipped to the customer. Independently from the channel selected by the client and the source system delivering the input, your institution wants to ensure a consistent appearance, superior service and the delivery of relevant, personalised information whilst keeping down document distribution costs.
Do you want to save document output costs? Do you suffer from multiple dispersed systems or non-modifiable legacy systems? If the answer is yes, we might be able to help. Simply download our “Top Tips for Banks Looking to Engage and Retain Customers” or get in touch with us and see how we’ve assisted other financial services companies.