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Archive for May, 2014

How Customer Experience Impacts Bank Profitability

May 13th, 2014 Brianne Schaer No comments

As much as superior customer experiences are expected to be the norm, banks are falling short in regards to customer satisfaction. Capgemini’s Customer Experience Index (CEI), which assesses the performance of retail banks in meeting customer expectations, took a dip this year, in contrast to a three year upswing.

The declining trend in customer experience was present worldwide, with the exception of Latin America’s increase in the CEI. The report cites two main causes for this: an inability to deliver on important expectations, particularly those from Generation Y, and a disconnect between providing services to both digital savvy customers and those who prefer direct services.

Nobody is ever inspired to advocate your bank (or any product, for that matter) after receiving a neutral experience—and a poor experience can even initiate a bank change. The fluid nature of today’s market encourages change, and people are not afraid to leave a bank that is not providing the service they deserve and require. In fact, customers with positive experiences are three times more likely to stay with their bank and three to five times more likely to refer others and purchase additional products than customers with negative experiences.

So what are customers really looking for when choosing a bank? According to the Capgemini Financial Services Analysis, customers still want banks to deliver on the basics: fair pricing, broad product sets, and dependable service. The quality of overall bank service was ranked as a top priority in every region of the world, see chart below.

Factros Influencing Customers

Fees/price, quality of overall bank service, and quality of internet banking service were ranked the top three factors when choosing a bank worldwide, with the exception of Latin America, which ranked quality of branch service higher than internet service.

With a targeted customer service campaign and powerful customer relationship management software, banks can easily improve the number of positive experiences customers are receiving in order to initiate a more supportive customer base. A great CRM program delivers unmatched functionality and convenience, an ease of use anyone can master, and, mainly, superior customer service. Ignify has developed a CRM solution specifically for banking and financial institutions.

CRM for Banks enables banks to produce positive experiences through 360-degree views of the customer, tracking customer engagements and customer history, and a unique database of help topics to solve queries. The system integrates with the core banking system and shows neglected accounts, loans, mortgage records, mutual funds, and more.

Customizable dashboards enable customer service agents to prioritize cases, view problems by category, and track customer satisfaction after cases are resolved. All of the data can also be drilled down further to view information such as account owner, how long it took to resolve the case, and if there was any follow up from either the customer or the agent.

Customizable dashboards

It is important for bank managers to view information similar to the above dashboard to track and analyze data regarding customer satisfaction and service. Information such as account number by branch, account number by last transaction date, and account number by product can all be accessed in one convenient location.

Accounts by Corporate Banking

This drill-down into active cases provides a list of the accounts by corporate banking on the left, and a line graph on the right showing the account balance by bank. This can help to monitor how banks are doing in terms of revenue and open accounts.

When a customer calls in, it is imperative to know a bit about them and their history to make them feel valued. Within CRM for Banks, you can view past cases, detailed information about the customer, and create a case for the most recent activity. With Parature, this functionality is further improved by allowing customer service representatives access to a vast knowledge base to pinpoint the best solution to any problem. CRM for Banks connects disparate systems to allow access to all customer data in one place, eliminating the need to work from a variety of programs.

Access to Customer Data

CRM for Banks makes viewing cases simple, and a wide variety of field entries organize data in an easy-to-use manner. Follow up times and activities lists ensure the problem is resolved and the customer is satisfied.

If you would like more information on Ignify’s CRM for Banks solution, please email banks@ignify.com to connect with one of our specialists.

Brianne Schaer is an Assistant Copywriter at Ignify. Ignify is a technology provider of CRM, eCommerce, ERP, and Point of Sale software solutions to organizations. Ignify has won the worldwide Microsoft Partner of the Year Award in 2013, 2012 and 2011. Ignify has been included as the fastest growing businesses in North America for seven years in a row by Deloitte, Inc Magazine and Entrepreneur Magazine from 2007 to 2013.

Parature Raises the Standard in Microsoft Dynamics CRM Customer Care

May 6th, 2014 Brianne Schaer No comments

Parature Raises the Standard in Microsoft Dynamics CRM Customer Care

Even before Microsoft acquired Parature, the two companies were operating under a shared vision: working to deliver the highest level of customer care and satisfaction.

With Parature, Microsoft Dynamics CRM is even more equipped to handle a variety of customer needs both effortlessly and uniformly, drawing from Parature’s vast databases and integration features.

Parature’s support portals allow companies to deliver service in an efficient and relevant way, working through multiple channels, like chat and email, to give customers the choice of helping themselves or seeking help when necessary. Strong social capabilities and “commonly asked questions” databases also contribute to the ease of solving customer queries.

The following Parature features provide “Care Everywhere” in Microsoft Dynamics CRM:  

Multi-Channel Service

Customers demand a proactive and seamless experience across channels when submitting questions or queries, and Parature’s database of recommended articles can help drive down service requests by 65 to 85 percent by providing answers on the spot. If the customer’s question can’t be solved in this manner, it may be given a higher priority before it is sent to a representative.

Unified Service Desk 

A typical agent uses 7 to 10 different applications in every customer interaction. With Parature, everything is consolidated into one guided application. Representatives are provided a call script specific to a variety of claim types. Integration with multiple applications and automated interactions make it easy for service representatives to focus on the customer to solve queries as fast as possible.

Enterprise Case Management   

Enhancements have been made across the board, including Service Level Agreements, thresholds, notifications, and advanced routing and queuing rules to ensure you deliver the best service and meet commitments as an organization. For example, customer queries are monitored as they move through various channels to ensure they are accurately prioritized by the time they reach a customer service representative.

Knowledge Base                                  

In today’s lightning speed world, searches must be fast, in context and responsive. Parature’s knowledge base capabilities ensure the right answer is delivered at the right time across all service channels. This information can be leveraged both internally and by the customer and includes traditional text, images, videos, and real-time blogs and feeds to ensure content is always consistent and up-to-date.

Social Service                                   

As more people are trusting social media reviews and activity to measure brand effectiveness, Parature has kept up with the changing service landscape to listen and analyze interactions on social channels. Much attention is placed on engaging with social sentiment and to trigger work flow rules to handle various social situations as needed.

All of these features mesh together effortlessly in Microsoft Dynamics CRM, which ultimately works to provide the best possible experience for the customer. As a customer service representative views a case, the important information about the customer is located in the left pane, and below that the call script.

This allows for easy out-of-the-box implementation of Microsoft Dynamics CRM at call centers. Customer service agents can drill down into data to find the appropriate answer to the customer’s question. A resolution time can also be included in the case to control response time based on factors such as which channel the question came from.

Additional information, such as platinum credit card benefits, will also appear within Microsoft Dynamics CRM to allow customer service agents to enhance the customer experience by providing perks and information that may have been previously unknown.

Parature Raises the Standard in Microsoft Dynamics CRM Customer Care

In this case, originating from Facebook, the customer is inquiring whether the spring forward deal applies to the platinum credit card. A customer service agent is easily able to access Parature’s database of information to find the answer to the question, in the right two panes.

Parature Raises the Standard in Microsoft Dynamics CRM Customer Care

This customer called in with a question about replacing a lost credit card. Through an integration with Bing Maps, the representative pulled up the information on the right and sent it directly to the customer.

If you’re interested in taking your customer service to the next level with Microsoft Dynamics CRM and Parature, please contact CRM@ignify.com to learn more, and a member of our team will contact you.

Brianne Schaer is an Assistant Copywriter at Ignify. Ignify is a technology provider of CRM, eCommerce, ERP, and Point of Sale software solutions to organizations. Ignify has won the worldwide Microsoft Partner of the Year Award in 2013, 2012 and 2011. Ignify has been included as the fastest growing businesses in North America for seven years in a row by Deloitte, Inc Magazine and Entrepreneur Magazine from 2007 to 2013.