E-Commerce Support: Essential for Commercial Banks

Big, air-conditioned central areas, free coffee and plush chairs: Commercial banks often offer the familiar pleasant and professional brick-and-mortar experience. Meanwhile, many business leaders in this field find the challenge to nail customer service in the transition to a digital environment more of an unfamiliar room.

Internet banking is becoming an industry standard, and firms that fail to migrate effectively to the Web may be pushed to the side by competing companies who offer more complete sets of service options and better live help technology to guide consumers through their transactions.

Keeping it consistent

The true mark of a successful transition from physical to online banking is a customer’s ability to access the same range of features through both platforms without experiencing a major disparity in service quality.

According to a recent article from Global Post, data drawn from customer service technology is a key asset in crafting an online banking channel that brings the best aspects of the in-person experience to the Web. Bill Downe, CEO at Bank of Montreal, explained that a focus on retaining the basics of banking is essential in making this shift.

“While digital platforms and communication devices are fundamentally changing how people purchase and consume our products and services, the technology is simply an enabler,” Downe said, according to the Global Post. “You will always get the service and guidance you need, regardless of how you bank with us.”

Related article: Hiding in Plain Sight: A Modern Customer Communications Paradox

Rising above expectations

Today’s consumers know that they have more options than ever before, and retaining clientele is a challenge many banks face as competition grows in the online arena.

American Banker emphasized the importance of maintaining a reputation for personalized service in an era that causes so many individuals to feel devalued when using Web-based services. Customer service technology such as co-browsing and live chat pairs clients with a live representative to guide them through complicated banking processes and give them advice on how to best approach their financial strategies.

While implementing a handful of innovative communication channels may set a firm apart for a time, American Banker urged decision-makers to always be pushing themselves to better their e-commerce service methods, as competition is always quick to catch up. Staying on the cutting edge of the latest customer service tools is a way for businesses to ensure they retain an advantage over the long run.

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This article originally appeared on the LiveLOOK blog, and is reprinted with permission.

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