Call centre for the financial sector: Impacts and Benefits of outsourcing your customer support

Silvia Planella/ April 16, 2018/ blog

Diversification of services and products in the financial sector is growing rapidly. Every day there is a larger number of financial options offered to clients (e.g. mortgage options, saving accounts, current accounts). But it is a fact, that customers are slow changing financial institutions. In 2015, the Independent reported that “we are more likely to get divorced than change banks”.  However, new technology (online access, apps…) are bring a lot of competition to achieve customer loyalty. The role of call centres for the financial sector is developing and requiring a more technical solution for delivering effective customer support service.

As the economy expands and our country is recovering from the crisis, customers are looking into better opportunities to invest their money. Therefore, there is a high requirement for customer support. A call centre for the financial sector can provide professional 24/7 customer care with ease to support this growth. At this point there are two choices for the business:

  1. To invest your time and money in hiring and training new staff
  2. Outsourcing to a call centre

Customers should be the number one priority in the financial sector. It is important for financial companies to deliver the highest possible standard of services for their clients to increase loyalty.

Impact and Benefits of the call centre for the financial sector

A call centre can support your in-house financial team on their day to day activities. The integration of their services should support your operations, but also your business growth and customer perception of your brand.

Provides Professional Services

In call centres, staff are trained to deliver adequate and accurate service information for the clients of the financial industry. Therefore, call centres help to resolve your customers’ queries in a professional and effective manner. It gives customers the good feeling for the business brand.

Customer Brand Awareness

Call centres generate professional customer service which creates brand awareness. If the customer service is good, your client will be your best brand advocate and they will recommend your financial institution to friends and family. Brand awareness is extremely important as it attracts more members/customers to your sector.

In call centre for the financial sector, employees are carefully trained. Agents are aware of the client’s brand, providing customers with brand quality assurance and accurate customer information. Call centres build trust between customers and the business. And obviously, trust has a huge impact on the financial sector and business loyalty.

Problem Reduction

In every business, problems are going to arise no matter what. For example, problems include customers waiting on the line for too long or getting no answer. When a customer isn’t happy or have a problem with your products or services, they should know that you are there for them. This translates to offering fast and accessible help through their chosen communication channel at any time.

Call centres are moving fast and there is a high increase in 24/7 customer support. Call centres are the solution to this demand increase. Financial companies can concentrate on completing their core operations – as their customers are supported by their call centre team.

Cost-Effective

Call centres have become the means for financial sectors to cut business costs and improve customer service satisfaction. Every business benefits from having a low business cost while providing the best in class customer support. A call centres for the financial sector is a smart solution as they take care of all the responsibilities including hiring and training agents. They provide well-experienced agents to deliver a high customer service level to meet the satisfaction of customers. This has a huge impact on the financial companies.

In conclussion…

Overall more and more businesses in the financial sector are not afraid to invest in call centres. In today’s world call centres are essential as is saves businesses money and time. They also improve relationships with customers.

For further information on the benefit of the support service that we provide for our financial client please check our latest case study “Customer Support for the Financial Sector”

About Blessing…

Blessing Kumi CIT intern and Arema Connect call centre agent

 

Blessing Kumi – “I am a student at Cork Institute of Technology studying Bachelor of Business in Business Administration.
As an Intern here at Arema Connect, I have gained so many experiences and improved my skill set. I first started off as a part time worker during the Christmas period and was given a huge opportunity to do my internship here in Arema Connect, and that was an honour.
By the end of my Internship I hope to successfully complete all projects assigned to me. Working in the Human Resource and Management department is something that I am interested in for the future. Arema Connect is a pleasurable place to work.”