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

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.

Unbelievable Violation By World Renowned Bank – Record Fines!

Beyond Philosophy

A: Wells Fargo Bank, the latest bank to suffer the scrutiny of the truth and forced to answer for taking advantage of its customers’ trust. Carrie Tolstedt , unit leader of Wells Fargo’s community banking division, is set to retire at the end of this year after 27 years of service.

Disrupting the Banking Sector:  FinTech vs Traditional Banking

Ameyo

The banking sector has seen its fair share of controversies and scandals. This has led to the public losing confidence in the traditional banking system. So much so that, there have been claims of it being one of the biggest disruptors for the traditional banks in the recent past.

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. .

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. .

Australian Banking and Financial Institutions Need a Seismic Shift in Culture

Noble Systems

In light of recent news from the royal commission exposing misconduct by Australian banking and financial institutions, businesses in the financial sector should consider taking a look at their internal sales practices and potentially recalibrating their corporate culture.

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).

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.,

HITRUST — and Banking? Why Certification Matters to More than Just Hospitals

Revation Systems

For regional and community banks, which are the bulk of the financial institutions in North America, selecting a new vendor or partner involves an in-depth review of the offering and its related landscape — to ensure the organization is making the best quality choice.

TRUSTID helps banks achieve multi-layered authentication

TRUSTID

According to the recent Customer Contact Week webinar, “The Future of Call Center Authentication,” technologies like the TRUSTID Pre-answer Caller Authentication can help banks achieve a multi-layered solution for identifying customers over the telephone channel. .

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.,

Why And How To Empower Customer Service Agents In Banking Contact Centers

Ameyo

We recently had an interesting discussion with a Customer Service Head of one of the leading banks in Africa, about how banking experience can be improved by empowering customer service agents with the right access to the backend applications for resolving customer queries efficiently.

How does your bank fight evolving phone fraud?

TRUSTID

Bank call centers are also targeted by fraudsters posing as customers calling in to change their account passwords or make financial transactions. As they offer customers new ways to bank online, financial institutions also needed to ensure those platforms secure.

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?

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 Banking Success Begins with Customer Experience

Enghouse Interactive

Digital Banking Success Begins with Customer Experience. As digital banking capabilities have expanded, so has consumer adoption of online and mobile channels. In 2018, 57% of all banks and credit unions have adopted digital mobile banking options.

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.

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teleopti

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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.

Report: Small Banks Are More Customer-Centric

Toister Performance Solutions

A new report from the American Customer Satisfaction Index (ACSI) shows branches and ATM machines are just about the only place where credit unions and community banks lag behind larger financial institutions. Here's the breakdown of overall customer service ratings by size of bank.

Temkin Experience Ratings Industry Snapshot: Banks

Customer Experience Matters

Congratulations to Citizens Bank and credit unions for earning the best customer experience scores in the banking industry. Of the 15 banks included in this year’s Ratings, Citizens and credits unions tied for the top spot. The post Temkin Experience Ratings Industry Snapshot: Banks appeared first on Customer Experience Matters®.

Countries that approved video identification in banks

RichCall

In this post I’ll try to list the countries allowed their banks to identify clients through video. Proof links are included. The list will be continuously updated as I learn about new ones. Here’s what I have so far (a/b order): 1. Austria.

China Citic Bank has signed with Teleopti

teleopti

Fast-growing China Citic Bank, Credit Card Business Unit, has signed an agreement with Teleopti’s partner Youcheng Technologies for Teleopti´s Workforce Management (WFM) solution, Teleopti WFM. The agreement has increased Teleopti´s WFM customer base with more than 2000 seats

Bank of the West | Machine Learning & Customer Experience

pindrop

Bank of the West is Pindrop’s latest partner in the fight against fraud within the phone channel. Focused on its award-winning relationship banking approach and customer service, Bank of the West enhanced its customer experience by adopting our fraud solution. Pindrop’s machine learning technology allows us to better know our customers and more effectively protect their assets,” said Patricia Nowak, Head of Enterprise Customer Experience for Bank of the West.

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.

AI will shape the future of digital banking

Aspect

With the commoditization of banking services, the biggest differentiator for banks today is customer experience. Customers are far more likely to choose a bank based on factors such as the ease of navigation or quality of issue resolution; rather than on the actual offerings. This creates a challenge for the banking industry that is already in a state of flux and is grappling with the rise of more tech-savvy & “born in the cloud” banks.

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.

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.

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.

Bank of Communications - Teleopti’s First Customer on the Chinese Finance Market

teleopti

Teleopti, a global provider of Workforce Management (WFM) solutions for large contact centres, has received an order for their workforce management solution, Teleopti WFM, from the Bank of Communications, a leading bank in China. The leading Bank Application and System Integration provider, Yucheng Technology, is responsible for this project delivery together with Teleopti.

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.

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

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.

Alfa-Bank (Ukraine) wins Teleopti WFM Best Practice Award at the Teleopti Global Forum 2012

teleopti

The motivation from the jury was: The winner has in a professional manner handled their challenges and achieved results in a very short time. The results are excellent proof of what one can achieve with the help of Teleopti WFM

Revation Discusses Cloud-based Customer Engagement at the 2018 ABA Annual Convention

Revation Systems

Are you looking for a customer engagement solution to help your bank meet growing customer expectations? News ABA Annual Convention American Bankers Association banking credit unions Customer Engagement Customer Experience digital banking

The Interactive Teller Machine (ITM): Understanding the Technology and What the Future Holds

Revation Systems

Whether in the lobby of your office building or a kiosk in a shopping mall, ATMs are at the very root of convenience banking. How can banks better serve their customers in today’s mobile world? We’re all familiar with the automated teller machine (ATM).

Remove friction from the contact center experience

TRUSTID

When it comes to improving banking efficiencies and protecting customers over the telephone channel, contact center supervisors have traditionally relied on knowledge-based information to authenticate customers.

Why AI Needs to Vary by Industry

Revation Systems

Healthcare and banking in particular are great examples of the various ways AI can improve engagement based on the specific needs of an industry. Banking is a good example.

Does your call center have a trusted caller flow?

TRUSTID

If your caller authentication process does not include a trusted caller flow, you may be putting your bank and customer accounts at risk. These steps simply take too long and disrupt the banking journey. .