Banking by Phone: Top 5 Ways Retreaver Fixes Most Common Customer Frustrations

November 2, 2016 | Lucy Leiderman

A relationship between a customer and their bank can last a lifetime. Actually, it can last generations. Banking has grown to include online and telephone options, savings and mutual funds, international currency accounts, and dozens of different types of services. The clientele has also grown to encompass hundreds of languages, dozens of types of daily services required, and an overall array of customer types. Customers of 20+ years are no longer okay with still have to press 1 for their main language choice, when this is the longest relationship they’ve had with any brand. So how do big banks still treat every person with a degree of personalized care and support when they’re getting tens of thousands of calls per day?

The key is not in buying up more call centers or trying to make as much of the banking process as self-serve as possible. Certain types of customers (for example, those without easy access to Internet) or anyone needing immediate attention for a complicated issue will always end up calling. The solution is actually in using existing resources like phone lines, call centers, and other assets to just work smarter. And that’s what Retreaver does. 

Here are some top ways Retreaver is currently working with banking clients and the resources they already have to solve some of banking’s most challengeing customer experience issues. 

What customers say: “I got an email while abroad telling me to verify the last charge was me, but when I call the number right there in the email, I’m just sent to the regular IVR and have to wait on hold while using up my long distance!”

1) We connect email context to calls: Banking customers often receive emails with a specific call to action from their banks. Perhaps they’re travelling and need to verify the last charge on their card is not fraud. Or perhaps they just received a card in the mail and need to activate it. With Retreaver, you can seamlessly insert dynamic, custom numbers into emails that will not only grab the context of the email (travel alert), but will also securely attach the information vital to verifying that user. When the customer calls, they will skip the regular customer service IVR and be sent to exactly the right place using Retreaver’s routing capabilities. It’s an easy way through which organizations can leverage call context and set up improved customer experiences.

What customers say: “I’ve been researching mutual funds on the website for hours – why do I have to answer all the same questions on the phone as I already did online just to get some answers?”

2) Save on operations costs for call centres while increasing customer satisfaction: Retreaver allows you to understand exactly what each customer was doing on your website, packaging that information and sending it on to the call centre agent as they answer the phone. The agent saves time by addressing the customer’s concerns immediately, while the customer feels like they have received a customized experience. 

What customers say: “My account has over $350,000 in it and I get sent to the same customer support as my teenaged daughter.”

3) Prequalify leads and customers: Retreaver uses a tagging system to identify customers based on given data and behaviour. Now, before you direct where their call goes and an agent picks up the phone, you can pre-qualify your customers by whether or not they match certain tags. This will help the system understand where to send the call and what kind of experience to navigate this customer into. Callers may be a high value investment customer that requires special attention or a student calling about a checking account. Retriever’s system fills out the tags for each caller and packages the information into the dynamic number so that they go to the right place and save you time and money on resources. 

What customers say: “I have to press about 12 buttons before I actually get to where I need to be. Surely this isn’t the best system that’s available.”

4) Create custom “routes” across your existing IVR: With the context of what your customer is calling about and who they are, you can use Retreaver to quickly and easily set up experiences. You can either create an IVR with a unique voice and set of choices (perhaps for a special campaign or activation), or just use tags to set up the navigation of where this call with go within your large network. If it is a traveller currently calling about a frozen card, for example, you’ll want to send them to the right department right away so that they can get back to enjoying their vacation. 

What customers say: “I already know what I want to buy, butmy bank makes it so hard to get in touch with the right person that their customer service is the biggest reason I’m looking somewhere else.”

5) Support brokers and advisors both in branch and out: Retreaver allows you to use your number pool and integrate with your digital advertising. You can use this advertising to localize the phone-in numbers to your customers’ general area, and set up a chain of call recipients based on top-performers. For example, if you want to connect someone browsing a mortgage with a mortgage advisor in your area, instead of calling a branch and hoping to be transferred, customers will be able to dial the number for the advisor, that will connect them to someone in their area. And if that person is busy and doesn’t pick up, Retreaver’s continuous ringing feature can go down a recipient chain ensuring that someone will receive that lead and ultimately win the conversion of a prospective customer into a qualified home buyer. 

For more on how Retreaver does banking or to schedule your free demo, get in touch today with mark@retreaver.com