Financial Industry

When Should Insurance Companies Use Licensed Agents Over Brokers?

If you’re like most insurance agencies, you’re probably always on the lookout for new ways to reach new customers. From billboards and newspaper ads and club sponsorships and car decals,...
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Financial Industry

Bank Customer Satisfaction Improves – But You Can’t Afford to Shift Focus Yet

“I’m not dead yet,” cries the old man in the classic movie “Monty Python and the Holy Grail,” as the undertakers try to throw the protesting pauper on their cart...
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Extend Your Brand

New Trends in Customer Service Metrics: Making the Shift

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Financial Industry

Customer Centricity Means Bank Contact Centers Must “Walk Their Talk”

Improving the customer experience requires change. And, sometimes, change means a drastic transformation. Appearing to be customer-centric and being customer centric are two different things. Appearance is only skin deep...
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Financial Industry

Mentoring for Leaders in Customer Service

Findings from Deloitte’s 2015 Global Human Capital Trends report indicate that the most urgent talent issue identified by 50 percent of the business and HR leaders surveyed is leadership. Due...
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Financial Industry

Gamification Takes Learning to a New Level in the Contact Center

John walked into work at the Contact Center after spending the last 30 minutes texting with his friends – trying to come up with the answer to a question that...
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Financial Industry

Gathering the Right Data to Improve Customer Interactions

Voice of Customer (VoC) programs are predicated on gathering insights about customers’ expectations, preferences and aversions that are then used to inform the design of satisfying customer experiences. One of...
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Financial Industry

ROI of Customer Experience – Banking on Voice of Customer

While 78% of financial services executives believe that the customer experience has improved, only 28% of banking customers asked agreed. In fact, the study, A Shifting Landscape: Customer Experience Trends...
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Financial Industry

Building Customer Confidence through the Contact Center

Customer confidence in the contact center can play a big role in customer loyalty as measured through willingness to recommend and likelihood to repurchase. There are a number of components...
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Financial Industry

Adopting the Framework for Tangible CSAT

Our recent How-to-Guide introduced Sykes’ How to Guide: Create a Framework for Tangible CSAT and Sustainable Service Excellence. Continuous process improvement is an initiative that financial services institutions must embrace...
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Financial Industry

Faking Customer Centricity in the Contact Center is Costly

Improving the customer experience requires change. And, sometimes, change means a drastic transformation. Appearing to be customer-centric and being customer centric are two different things. Appearance is only skin deep...
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Financial Industry

Banks Need to Prioritize Creating Positive Customer Experiences

As the role of the bank becomes increasingly commoditized in its customer’s lives, the contact center is one of the remaining opportunities for differentiation through personalized interactions. Even though numerous...
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Financial Industry

Does Your Contact Center Speak “Millennial?”

Baby Boomers are at the core of many financial services institutions’ product and process design. But, the way you’re used to managing customers must shift in line with the trends...
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Financial Industry

Great Customer Experiences Require More than Process

As a primary front-line for financial institutions, contact centers make and lose revenue every day based on the quality of the customer experience. This experience can be compromised if inbound...
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Financial Industry

Procuring Contact Center Services for Multi-channel Customer Experiences

Old news: customers have changed. New dilemma: they want service when and how they expect it and they have less patience waiting for resolution when they need information and assistance....
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Financial Industry

The Bank Interactions that Drive Customer Loyalty

Banking customer loyalty is earned interaction by interaction. The customer service, convenience and overall experience must serve to strengthen the bank’s brand reputation and build emotional bonds with consumers over...
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Financial Industry

Bank Customer Satisfaction Big Picture: True or False?

Customer satisfaction scores are the Holy Grail for retail banks. Consumers are fickle and demanding, making it even more challenging to build and maintain high customer satisfaction scores. A customer...
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Financial Industry

Customers Deserve Nothing Less than Being Extremely Satisfied

Delivering Amazing Customer Experiences Performance is usually a reflection of how lofty our goals are. People rarely excel when they set moderate goals. We saw a good example of this...
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Financial Industry

Four Areas of Business Value that Call Center Vendors Must Address

Selecting an outsourced call center vendor is a big commitment. But, it’s also an opportunity to achieve excellence in an area that’s not likely a core competency for your company....
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Financial Industry

Prepare the Bank Call Center to Meet Expansion Needs

Call center vendors have provided much-needed efficiencies for retail banks, but they’ve also demonstrated that excellence in service adds business value. An additional benefit that outsourced vendors provide is economies...
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Financial Industry

Develop Versatility in the Call Center to Ramp Product Sales

One of the main challenges for many financial services institutions is how to achieve product-driven business objectives without lowering customer satisfaction. One of the areas where the impact from this...
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Financial Industry

Call Centers Need Process Improvements to Achieve Priorities

Complexity in the call center is growing in parallel with customer expectations. As customers feel more entitled, they’re also unwilling to tolerate customer service that doesn’t deliver a compelling customer...
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Financial Industry

Develop Versatility in the Call Center for Efficiency and Profit

One of the main challenges for many financial services institutions is how to operate efficiently without lowering customer satisfaction. One of the areas where the impact from this challenge becomes...
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Financial Industry

Call Center Agents Excel with Needs-Based Offers

Call center operations in financial services are most successful when a process is applied to design customer interactions to achieve predictable, efficient and satisfying customer experiences for every customer touchpoint....
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Financial Industry

Elevate Trust by Humanizing the Banking Experience

The top reason consumers leave a financial institution is due to subpar experiences. Forty-eight percent said so in response to a 2011 Ernst & Young survey. Not only is customer...
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Financial Industry

Access to Data in the Call Center Improves Customer Relationships

Mark, a personal and small business customer of a big commercial bank, called the bank to complain about a new paper statement fee. When the call center agent told him...
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Financial Industry

Internal Perceptions Drive External Satisfaction for Call Centers

Have you ever heard that what’s perceived internally is mirrored and amplified by external perceptions? Well, it’s true; specifically in regards to financial services call center agents on the front...
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Financial Industry

The Five Myths of Customer Service Satisfaction

Banks are struggling to address the problem of customer experience and what it means in the market today. There is a lot of turmoil as customer expectations and perceptions shift...
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Financial Industry

Call Center Evolution is Critical for Customer Retention in Banks

Banking is a regional business that must address needs and cultural drivers that exist in branch locations. This reality is also true of the call center—regardless of where it’s located....
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Financial Industry

Stem Customer Attrition by Humanizing the Banking Experience

The top reason consumers leave a financial institution is due to subpar service. Thirty-seven percent of retail bank customers said so in a 2010 survey conducted by J.D. Power and...
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Financial Industry

The Value of Selecting a Strategic Partner for an Outsourced Call Center

Customers are inarguably the most valuable asset that a financial services business can claim. Outsourcing the customer relationship through an external call center can present an uncomfortable risk and must...
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Financial Industry

Call Centers Smooth the Path to Profitability

With Ventana Research reporting that 94 percent of customer interactions are taking place in the call center, it has unarguably become the face of your company. How call center agents...
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