Happy Customers = Happy Banks

Blueworx

With the increase in technology making competition for customers more fierce than ever, banks have a huge incentive to improve their customer experience. The post Happy Customers = Happy Banks appeared first on Blueworx. Blog AI Banks Customer Experience CX IVR

Restoring trust across banking channels

TRUSTID

Whether they’re using stolen data to open a new line of credit online or spoofing telephone reps, authentication processes play a central role in protecting customer data from scams designed to steal identities and impact a bank’s brand reputation. .

Big Banks: What Are They Hiding?

Beyond Philosophy

Big banks have proven yet again that they cannot be trusted to do what is best for the consumer. Banking industry lobbyists fought hard for this change and gained significant support. After contacting the bank (or not), most people just drop it. Do you trust your bank?

Advantages of Banking Virtualization

Revation Systems

While many customers are still most comfortable banking at their local brick-and-mortar branch location, we’d like to think it’s because they enjoy seeing their favorite teller and not because they’re afraid to try online banking. 13 Essential Online-Banking Security Tips.

What are Bank Contact Centers Doing Right?

inContact

inContact’s research shows that banking was in the highest tier for customer satisfaction with 54% of respondents ranking it for the most satisfied recent interaction. The American Customer Satisfaction Index (ACSI) reported that banking customer satisfaction increased 5.3%

Digital Transformation in Retail Banks: Potential Impact on Brand Equity, Customers, and Employees

Beyond Philosophy

It is having most impact, and will likely continue to do so, in traditional industries such as retail banking. Digital innovation in banking can be seen in the transformative way people transact and organize their finances. Michael Lowenstein, Ph.D.,

Lose the Customer’s Confidence and You Lose the Customer

ShepHyken

My wife and I were on the phone with our bank. At the end of the “interrogation,” the bank’s rep said he didn’t have what he needed to verify Cindy’s identity, and he was transferring her to another rep. So, what was the cost to the bank?

Bank Innovation 2018: Chatbots, Fintech & Customers — Oh My

Revation Systems

Interested in learning more about how fintech and chatbots are enhancing the customer experience at banks and credit unions today? Join our team, along with other top leaders in the financial field, at the 7 th Annual Bank Innovation Conference (March 5-6).

At A Fork In the Road: As a Customer Relationship Driver, Where Is Branch Banking Headed?

Beyond Philosophy

Both quotes seem to apply to what is currently transpiring with retail branch banking, and where it seems to be trending. Banks can’t quite make up their minds about what branches are supposed to be. At a time when banks are closing branch locations at a record pace (over 1,400 in 2014, with Bank of America, alone, closing more than 140) that is likely to continue, the need for the services they offer remains pretty much the same. Why does banking have to be a chore?

Faces of Customer Experience: Ali Banks

Customers That Stick

Meet Ali Banks! Ali Banks’ began her career in architecture but left her real estate development job to pursue her love of food at Le Cordon Bleu, Paris. To connect with Ali Banks further visit her at www.sitkasalmonshares.com.

Is Trust Really an Emotion? Generally,Yes…And It Is Critical In Customer-Supplier Relationship…Just Ask Banks!

Beyond Philosophy

Consumer financial service industries, such as banking, investments and insurance, are sectors where trust and confidence play a particularly important role in key elements of the customer life cycle: selection, loyalty, and defection. Retail banking, in particular, has seen both success and failure because of customer trust. Big national and large regional banks are particularly vulnerable. In classic psychological terms, trust is considered more a ‘feeder’ of emotion.

B2C 7

Intersecting Viral Marketing With Emotional Customer Connection: TD Bank’s ‘Home Run’

Beyond Philosophy

My example is TD Bank, where viral communication meets real, and valued, experience delivery on a personalized, and deeply emotional, level. The mini-documentary TD Bank created about the campaign has been viewed over 5 million times on YouTube. – Michael Lowenstein, Ph.D.,

B2C 4

CX: The Shift from Call Center to Contact Center

Revation Systems

Today the role of cloud and multi-channel features has changed the game entirely, and shifted what was merely used to aggregate inbound and outbound phone calls into a complex communications hub able to transform multiple industries such as healthcare and banking.

What are Bank Contact Centers Doing Right?

inContact

inContact’s research shows that banking was in the highest tier for customer satisfaction with 54% of respondents ranking it for the most satisfied recent interaction. The American Customer Satisfaction Index (ACSI) reported that banking customer satisfaction increased 5.3% Forrester Research, in their annual Customer Experience Index, also finds that banking and credit card companies lead the way in customer experience excellence when compared to other industries.

Top contact center authentication stories of 2017

TRUSTID

To protect themselves, consumers need to work with the credit monitoring agency and their bank to closely monitor their credit activity for, what some experts believe, the rest of their lives. When you have it, you still have to continually work to maintain it, which all banks do.

Employee Culture: Why Amazon is on Top and Bank of America Isn’t

Beyond Philosophy

Last year’s survey revealed that Amazon claimed the top spot and Bank of America…well, didn’t. That is to say, Amazon has it—and Bank of America doesn’t. The Bottom 10 Companies Technically, Bank of America isn’t listed here by name but they do fall under the label of “Any Bank.” I would argue that this is true of Bank of America. I am not a fan of banks. In my experience, banks don’t ever put the customer first.

The Transparent Customer Experience: how measurement can benefit both company & customer

ijgolding

I am writing this blog having just watched a Hollywood movie about the 2008 banking crisis – The Big Short, featuring Christian Bale, Steve Carell, Ryan Gosling and Brad Pitt is a tough watch – not because of the quality of the acting, but because of the almost completely unbelievable plot.

10 bank fraud lessons of 2012

TRUSTID

As much as we’d like to think that remote banking is safe, the reality is threats across all customer channels still exist. With new and emerging threats facing financial institutions every day, banks need to stay one step ahead of today’s tenacious criminals. Continued education is essential for fighting bank fraud : With crooks cooking up new schemes all the time, bank fraud teams need to keep up with the latest criminal trends and tactics.

How pre-answered caller authentication helps prevent telephone bank fraud

TRUSTID

When it comes to providing a trusted customer environment, banks are typically better at resolving problems stemming from non-predictive authentication and fraud than preventing them. What I mean by this is when banking customers place a call into a contact center, the very act of answering the telephone sets the stage for criminals to start their elaborate social engineering schemes. Done right, however, it can also have the biggest payback for both the bank and customer.

Combating bank fraud that targets user behavior

TRUSTID

Even with fraud defenses in place, individuals are still the ones who have to ultimately make banking decisions that could put them at risk. The recent article, “How to Address Security’s Weakest Link,” explores one of the most inherent security vulnerabilities that banks face today — people. The TrustID® network-based Physical Caller Authentication incorporates proactive fraud detection to instantly educate bank agents about the legitimacy of incoming calls.

Effects of the Equifax Data Breach, Part 4: Long-term consumer threat

TRUSTID

There’s been much speculation about the Equifax security breach, and we’ll likely continue to learn more about what happened and what the security steps consumers and banks need to take to protect themselves in the weeks and months ahead. Staying ahead of identity fraud means consumers and banks need to take proactive steps to ensure strong authentication solutions and monitoring tools are in place to spot and stop threats today and in the future.

Banks continually challenged with securing growing sales channels

TRUSTID

Along with providing faster and more convenient ways to bank, financial institutions are constantly challenged with making sure all of their customer channels are protected. The problem with offering customers more tools for customers to bank remotely is the ability to successfully secure the growing number of sales channels without impacting the user experience. And this says nothing about the damage that security questions can have on the goodwill of banking customers.

Happy Customers Live in the Cloud

Win the Customer

There was a time when customer service consisted of a row of operators answering calls, using a bank of telephones. If the call center was understaffed, customers would wait for nearly an hour to talk to a representative.

Security concerns prompting banks to invest in multi-factor authentication

TRUSTID

With fraud against financial institutions on the rise, what will banks be focusing on in the coming year? The recent BankInfoSecurity article, “New Insight on How to Respond to 2013’s Top Fraud Trends,” suggests that fraud attempts against banks and credit unions will continue to increase this year. Deploying a multi-factor authentication strategy can play a critical role in preventing fraud across all banking channels. Authentication Banking Fraud

Can your contact center build stronger brand identity?

TRUSTID

Banks can do this by automating their call center’s authentication process. Instead, it uses advanced telephone network forensics to provide instant risk intelligence that banks can act on in real-time. Just how important is your contact center to your brand identity?

Stronger customer authentication only way to mitigate risk of bank fraud

TRUSTID

Without it, or worse, relying on unvalidated resources like personal identifiable information (PII) to identify customers, puts every banking transaction at risk. Much like any other banking channel, financial institutions need to strengthen their customer authentication if they expect to stop fraud in the financial services industry, said Neil Schwartzman of secure messaging infrastructure provider, Message Bus. Sitting at the core of every financial transaction is trust.

Using physical ownership to strengthen customer authentication

TRUSTID

They give us the ability to bank and purchase products wherever we go, at our convenience. Some banking institutions are even allowing credit card transactions based on mobile phone proximity. Physical ownership.

The Best-Managed Contact Centers: #3 – They Know that Their People Are the Key to Success

Brad Cleveland

Wells Fargo Banker Connection has a somewhat more formal, polished atmosphere — expected and fitting in the banking environment. Cultures vary dramatically from one organization to the next.

From Zero to $5 Billion Powered by Customer Service Experience

Win the Customer

Metro Bank, in the United Kingdom, run by Vernon Hill, was issued its license by the government’s Financial Service Authority in March 2010. Metro Bank was the first high-street bank to receive such a license in over 150 years.

How pre-answer caller authentication differs from fraud detection

TRUSTID

While fraud tools are designed to spot bad actors, TRUSTID is an authentication system that helps banks validate good callers. For banks, the identity interrogation process is time-consuming and drives up operating expenses.

With customer experience design, functional is good. But don’t stop there – by Beth Richardson

ijgolding

You are a lifelong customer of Locality Bank. Your parents took you in to the bank open your first account when you were a child, and you remember how you felt when a moneybox was presented to you as a thank you. Locality Bank are the first people that spring to mind.

Protecting the things your customers value the most

TRUSTID

To avoid becoming low-hanging fruit for social engineers, banks need to provide a secure and seamless experience that meets increasing customer demands. This removes any disruption to a legitimate customer’s banking journey.

The one constant in a changing customer environment

TRUSTID

Advancements in banking technology have largely been driven by customer convenience. To avoid having to physically visit their local branch, today’s busy consumers demand remote solutions that allow them to bank from anywhere at any time.

27 Stats That Show What Consumers Expect from Brand Communication

West

Not long ago, grocery shopping happened solely in-store, and banking was done with the help of a human teller. But the internet, social media and mobile devices have dynamically changed this relationship, and consumers have come to expect much more from their brand communication.

Don’t Confuse Customer Services with Customer Service

Bill Quiseng

Banks have replaced tellers with ATM’s, direct deposit and internet banking. Where banks might have been the first to offer self-service options and debit cards, stores now offer ATM’s and their own credit card services, stealing fees and interest revenue from banks.

Employee Culture: Why Amazon is on Top and Bank of America Isn’t

Beyond Philosophy

Last year’s survey revealed that Amazon claimed the top spot and Bank of America…well, didn’t. That is to say, Amazon has it—and Bank of America doesn’t. Technically, Bank of America isn’t listed here by name but they do fall under the label of “Any Bank.” I would argue that this is true of Bank of America. Zhecho Dobrev , a one of Beyond Philosophy’s Senior Consultants, recently told a story on our blog about his experience with Bank of America.

Avoid Angry Customers with The No Fault Technique

Toister Performance Solutions

The customer service representative responded by saying that, based on the error message the customer received, the most likely causes were an incorrect debit card number, insufficient funds, or a bank error. If this happens, a quick phone call to your bank will allow the charge to go through.