Retail Banks are Well-Equipping their Workforce to Rethink Customer Experience

Banking CIO Outlook | Monday, July 08, 2019

To improve customer experience, retail banks need to collaborate with a fully-equipped workforce, driven by advanced technologies.  

FREMONT CA: A global consumer banking survey of 55,000 consumers reveals that retail banks must rethink their approach to consumer relationships. Significant customer experience across all channels is essential to meet consumer expectations and building a successful business. Customers expect the business models to create a seamless experience, meaning financial service landscape is fast changing, and bank workforce need to change with it.

Building a secure, robust wireless infrastructure across the brand network can be a significant asset that is necessary to engage with customers inside the branches through their mobile devices and applications. To this end, financial firms must tap into the full capabilities of new technologies. Banks must also digitize their processes involving complex financial transactions to make it frictionless and faster than ever for customers. This will be a smart move for customers to engage with bank professionals.

Employing technology also means staying on top of security standards to protect sensitive data. To deliver personalized services, banks need customer data, but only with concerns about how to engage with customers because obtaining personal information is a top responsibility. For financial institutions, customer trust stand top of priority for changing the dynamics of customer engagement.

Success in customer engagement also requires the workforce to understand new technology. Training and webinars can be provided as technology training solutions. Smart organizations are making initiatives too, backup these progressive training methods to relay the importance of these training to their teams. Regardless of the modes of delivery, it is critical that financial firms ensure the workforce is appropriately trained in the technical and soft skills required to deal with customers at the retail branch.

Financial institutions across the world are making investments in changing the nature of engagement inside the branch, physically and digitally. These efforts are resulting in more efficient practices that are capable of delighting their customers consistently.

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