Both banks and credit unions are driven by a mission to help and invest in the communities where they do business. Unfortunately, a consistently poor customer experience often prevents them from serving their members the way they envision. Here are the three biggest issues stopping financial institutions from fixing poor customer service issues.
1) Clunky core banking systems.
A lot of banks and credit unions rely on decades-old core banking software that doesn’t play well with other, more modern solutions, getting in the way of an ideal customer experience. The hitch is that core systems cost millions to update, are a challenge to convert, and there’s always a risk of losing information or having crucial data get mangled.
2) Scattered customer data.
Not having customer information stored in one central place makes it difficult to locate crucial customer details when you need them most. This often leads to longer wait times for customers, as employees hunt for critical data before being able to help. For your customer or member on the phone, these waits can feel like an eternity and won’t win you any points.
3) Inefficient practices.
While your employees may be working at full capacity, they’re often bogged down by inefficient systems requiring them to input the same data multiple times or access various platforms to complete tasks. These inefficiencies can compromise your ability to offer your customers and members timely and satisfactory customer service.
What’s the solution?
Think about your bank’s current systems and processes and see where it may be time to update, upgrade and streamline. Do you use a lot of different banking systems? It might be time to bring them under one roof. Do employees have to access four screens when dealing with customers? Have a goal of narrowing it down to just one.
And what about customer data? Investing in a banking CRM solution that brings all info together in a Customer 360 by integrating the core and all other systems under one intuitive interface could be just the thing you need.
Need a place to start? Our CRM platform is designed specifically to meet the unique needs of banks and credit unions. Click around our website to explore or email us to chat.