Banks and Financial Providers Can Meet Consumer Demands for Convenience with Live Chat Software

Banks and Financial Providers Can Meet Consumer Demands for Convenience with Live Chat Software

Traditional banks and finance providers should take a look at how digital-first banks are connecting with customers after a survey revealed younger generations prefer their approach. Click4Assistance, which provides the tools to integrate live chat into an organisation’s current systems effectively, is urging organisations to assess their points of contact now.

Research from FIS’s Performance Against Customer Expectations 20181 study revealed that digital-first banks are playing an increasingly important role in the economy. More than 66% of UK respondents were found to be using alternative financial services, with them proving more popular among millennials. One of the key priorities the report found for banking providers was embracing the digital transformation. The study noted that consumers now expect banks to offer the same digital capabilities they’re seeing from challenger banks and providers that are taking a digital-first approach.

Gary Martin, CEO of Click4Assistance, said, “When investing in a digital transformation, there are many areas to consider, such as mobile wallets and account openings, but one area that must not be left by the wayside is communication. The FIS report highlights how vital trust is to UK consumers and the way banks connect with their customers is a critical part of this. Live chat software allow banks to add another communication channel to their options, utilise digital technology, and capture a younger market. Millennials, in particular, prefer to communicate digitally, thanks to the convenience it offers, and it’s an expectation that will only grow as Generation Z comes of age.

“There are countless other benefits of using live chat too. With the ability to effectively handle multiple chats simultaneously, customer support staff can significantly reduce wait times and businesses can save money,”

Click4Assistance works with a wide range of organisations to offer a diverse range of online communication tools, including those suitable for financial firms and providers. Dawn Gregory, Business Development Manager at Sheffield Mutual Friendly Society, commented, “Click4Assistance has enabled us to interact with those clients who don’t like picking up the phone or just have a quick question, which can then be dealt with quickly and effectively via the online chat facility. We have also found the out of office ‘leave a message’ facility very useful.”

The FIS survey also highlighted the importance of security and compliance for banks. While most participants said they were happy with their current bank in this aspect, they stated they would move if any issues occurred. With so much regulation covering the financial sector, adding a live chat solution can seem like a minefield. However, Click4Assistance’s expertise and experience in the field mean that advance chat routing ensures customers are connected to the right departments, and security policies guarantee full compliance with the FCA and GDPR.

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