Importance of self-service in Banking Entities
Consumers have changed their behavior and are looking to find solutions faster and more efficiently. Self-service technology seems the most natural solution. But how does it work? Why is self-service important in banking?The simplest answer is that it helps save time and money for both the customer and the bank. However, self-service banking does more than save resources, it also allows the bank to provide a more efficient service to its customers. And therefore, increasing customer loyalty.In today's article, we tell you why it is important for banks to adopt self-service technologies. So if you want to learn about the main advantages of this digital solution, read on!
Advantages of self-service banking
Goodbye to long waiting times
Nothing discourages a user more than interacting with a bank or service that is not efficient. Long lines and long waiting times are what always discourage bank customers.
With a self-service portal, you can change this. Through this resource, you can get your customers the information they need more quickly.Many customers who approach or contact support do so to solve small problems. For example, for customers who have issues such as password recovery or data updates, why make them go all the way to the bank to solve something so simple? With a self-service banking portal, you can have a knowledge base. There you can have those service catalogs, manuals, guides, FAQs, etc.
24/7 access to services
Digital customer service must also surpass itself. It's not enough just for your customers to be able to transact online. You must offer them a more complete platform, one that is available and that always has the information they need to be updated.The goal is for customers to feel independent and in control of their assets. This is not going to happen if they have to contact support for everything they need to do.
Increased customer loyalty rate
Banks should always be very focused on customer satisfaction. How can this be achieved? With a self-service portal, you offer users a much friendlier, smoother, and more efficient experience.
In this way, you are telling your customers that you care about them and respect their time. With more satisfied customers, the better your brand recognition will be. In addition, you will not only build customer loyalty more easily, but you will increase the volume of potential customers.
Increase your team's productivity
When the volume of support requests is split between physical and digital channels, customer service staff will have more free time. They can then devote their efforts to other, more meaningful tasks.A self-service portal allows them to reduce the number of simple requests that take up valuable employee time. They can then spend the extra time on more relevant work or on carrying out those more effective (but time-consuming and staff-intensive) customer satisfaction strategies.
Decisions based on data
Certainly, one of the advantages of using digital tools to serve the public or even solutions for internal processes of the company is the amount of data that is collected from customers and even the service itself that is offered.When we give the customer a solution with a self-service portal, we can obtain data on what are the most frequent problems. And, in that sense, which part of the banking service needs to be improved. From there, all decisions and strategies taken as a company are based on real data. So it is easier to avoid risks such as loss of time and money.
Create an efficient self-service portal
Not all banks have the same needs, so to create an effective knowledge base you must:
- Establish the objectives you want to achieve
What are your organization's weaknesses? What do you need to improve? Prioritize your organization's priorities. And then establish whether you want to improve your benefits, improve the customer experience or simply need to reduce the cost of operations for your support team.In many cases, one solution leads to another. It is not only necessary to invest in the most appropriate tools, but it is also important to be organized.
- Offer useful knowledge
As mentioned before, with a self-service banking portal you can offer a knowledge base to customers. However, this knowledge base will not be effective if you do not offer quality information.
Make sure that each material offered is complete and easy to understand. If you upload a guide with a lot of technical words and the customer does not understand, you will not be solving anything.Audiovisual material is also the best option in these cases. Adequately illustrate each step so that your customers don't get lost and have to come to you.
- Getting the right tool
We have already mentioned several times the "right tool" or "solution" for your problems, but what does this mean?Of course, to have an efficient self-service portal you need the best technology. Yes, to integrate this service into your banking you must acquire digital software. And which one?At GB Advisors we recommend you one of the most demanded tools in the market, Freshservice. This service desk is a feature-rich ITSM software for organizations. With it you can:
- Get visibility of all your company's assets to better manage them.
- Integrate a ticketing system to manage incidents and automate repetitive tasks.
- Manage multiple SLAs and keep track of these agreements while monitoring the performance of your agents.Improve the management of your IT projects.
And, of course, with Freshservice you can offer your customers an easy-to-use and easy-to-configure self-service portal.If you want to know more about this or other solutions, GB Advisors will be happy to advise you and answer all your questions. If you want to take your business to the next level, contact us!
