Financial Industry Call Centers Face Need to Embrace Digital Transformation

Financial institutions are a cornerstone of the economy yet they are one of the last institutions to fully embrace digital transformation in the modern age.

Financial institutions are a cornerstone of the economy yet they are one of the last institutions to fully embrace digital transformation in the modern age. While many offer website and mobile apps, their customer service contact centers and data operations remain woefully behind the curve.  

A lack of unified data and outdated tech for agents contribute to the reputation for poor customer service many financial institutions face. To top it off, customers are much more likely to reach out when experiencing something negative and stressful, such as fraud or a lost or stolen card. This combination of an already unhappy customer and an agent that doesn’t have all of their information or ability to solve their issue results in an unsurprising increase in customer dissatisfaction. 

Today’s customers want digital solutions and self-service options but many financial institutions fall short of their expectations. The key to fixing this is to accelerate your digital transformation through investments in cloud-based, AI-powered technologies. Unfortunately, common barriers to this are a lack of clear strategy for AI technologies, limitations in flexibility and scalability presented by legacy systems, and a failure to centralize and share key data between backend systems. 

To overcome these challenges requires a shift in focus from legacy to the cloud. Cloud-based contact center tools enable you to improve process efficiency and free up resources, all while improving both agent and customer experiences. Many organizations talk about omnichannel communication with their customers, but this is the way to fully deliver on that promise. 

Process Improvement and Automation

A key element of increased efficiency is a unified data infrastructure that makes all of your data actionable across the organization. AI-powered workflows can intelligently automate processes and adapt to your business needs while keeping you informed on all of your key metrics. 

Efficient and Flexible Resource Allocation

Investment in effective cloud-based technologies unlocks the level of flexibility and rapid scalability that is made unattainable by legacy systems. By upgrading your tech tools, you empower your agents with everything they need, no matter where or how they work.  

Improved Experience for Customers and Agents

Unified data means you can give customers what they truly want – a true omnichannel experience. Create a seamless experience no matter how they connect and interact with your business, whether online or in-person. AI tools ensure that agents not only have the data they need but also contextual guidance to provide exemplary service by rapidly identifying and solving customer problems. 

Leveraging the cloud can help you overcome the biggest barriers to digital transformation faced by financial institutions and level up your customer experience. SuccessKPI can help you reach your digital transformation goals faster with the cloud-based, AI-driven contact center of the future. 

Check out our infographic to learn how SuccessKPI can help with your Call Center digital transformation goals:


About the Author

Nathan Anderson is a Senior Strategic Consultant at SuccessKPI focused on expanding the footprint of SuccessKPI’s next generation pure cloud pure SaaS advanced experience analytics platform. Nathan graduated with a B.A. from Gustavus Adolphus College and more recently completed the courses, “Artificial Intelligence: Implications for Business Strategy” and “Organizational Design for Digital Transformation” at MIT’s Sloan School of Management. Nathan serves on ACA’s Technology and Innovation Committee, RMAI’s Artificial Intelligence Working Group, and RMAI’s Editorial and Social Media Committee. Nathan is also a regular speaker on Artificial Intelligence, Digital Transformation, and Analytics. In his spare time loves to cycle, golf, and be silly with his two girls.