The banking landscape has changed over time and FinTech has established its footprint in the market with a strong digital foot to meet the unmet financial needs. The majority of financial service providers share a common strategy of transferring control to the customer. While poor people, immigrants, students find the door of the banks closed for them, FinTech proves to be a savior to these borrowers.
And, customers’ demands vary from region to region where Fintech has to deliver the needs of the customers who have no access to the formal banking system and the ones who turned into tech-savvy and want everything on their tips. To help the unbanked manage their finances better, FinTech industry needs a stronghold of a call center software that pacifies the growing needs of these people.
According to World Fintech Report by Capgemini, more than 7,500 FinTech firms, combined, have raised over USD 109.8 billion.
But, Why a Call Center Software?
The answer is simple, consistent services that address the changing expectations of the customers.
1. How to get instant loans?
When a student is coming in for a loan, she can update the documents through the mobile app but the journey does not end here. The student seeks assistance from an agent about the terms and conditions, the policy amount, the installments to be paid and in-app chat does not suffice her needs.
When the money is involved, it becomes a critical issue, let a call center agent serve the students’ need instantly and assure her of the best services.
2. How do customers reach out for complaint redressal?
Ron feels disappointed when he paid money for a product/service through mobile wallet but it does not reflect in his notifications. When the money is deducted, it leads to so many queries and Ron have no clue about whom to reach, where to register a complaint, whom to call?
And, that’s when his customer experience is compromised. A call center software for his complaint redressal will drive Ron’s faith and he will become a loyal customer when an agent is there to resolve his problem.
3. How do customers decide which loan to opt for?
Each customer is unique in their own way and so are their needs. Once the customer decides to opt for a loan, the bundle of queries should be addressed instantly. When the customer can’t find answers on the website, they seek assistance from the financial service provider. Provide gates for the customer to reach you and walk them through the entire process while simplifying their journey. With prompt response via Email notifications, chat, and call, deliver the experience that they are looking for.
According to a study by Google, 61% of mobile users still prefer to call the business when they are in the purchase phase of the buying cycle.
4. How to remind customers of paying the installments?
Yes, text messages work but you know what works better? A call. If a customer is reminded of the installments or introduced to a new exciting offer, customers feel valued and they take interest in your services. An intelligent debt collection software can streamline the collection process and customers could be notified with a quick call before the deadline approaches.
How does a call center software solve these problems?
Millennials, who have more power, look for their choice of the communication channel to do the banking. And FinTech sees these underbanked as a missed opportunity to establish the delivery of high-quality service. Give power to your agents with a call center software solution that surpasses all the competitors in the market.
Let Agents Know Their Customers: A safe banking environment promises that agents are well equipped with tools like CRM Integration. When a customer comes in to know the status of their loan approval, an agent should not sound confused about it. A preview of customer’s information that includes the type of loan opted for will help the agents resolve the queries at a fast pace.
Connect Customers with Right Agent: Customer experience is not an easy game but you can benefit with an Automatic Call Distributor (ACD) to route the callers smartly to the right department thus ensuring first call resolution. Route callers to agents on the basis of their data, IVR selection, defined business hours, agent’s availability and customer’s preference with ease and deliver a smooth experience to them.
When customer A calls in for loan approval status and customer B calls in for the verification process, they both have different needs, thus they could be routed to the best-suited agents.
Provide a Safe Banking Environment: Customers provide their critical information and invest their money for loan requirement only if they trust the brand. Customer acquisition and retaining is a challenge for the financial service provider because traditional banks have an edge on the security of their information. With a PCI-DSS Compliance ensure that your customers’ data is secured and their investment is taken care of at every step of the business.
FinTech Industry sees the underbanked as a missed opportunity and is setting the foot in the market while disrupting traditional banking. This gives more power to millennials who look for dedicated services at every point of their banking experience. A call center software solution ensures that the students, immigrants and poor people are met with the financial banking system that connects the borrower and investors.
In addition to these factors, explore how you can choose the call center software that fits your business needs.