What’s stopping FIs from fixing poor customer service?

Both banks and credit unions are driven by a mission to help and invest in the communities where they do business. Unfortunately, a consistently poor customer experience often prevents them from serving their members the way they envision. Here are the three biggest issues stopping financial institutions from fixing poor customer service issues.

1)  Clunky core banking systems.

A lot of banks and credit unions rely on decades-old core banking software that doesn’t play well with other, more modern solutions, getting in the way of an ideal customer experience. The hitch is that core systems cost millions to update, are a challenge to convert, and there’s always a risk of losing information or having crucial data get mangled.

2)  Scattered customer data.

Not having customer information stored in one central place makes it difficult to locate crucial customer details when you need them most. This often leads to longer wait times for customers, as employees hunt for critical data before being able to help. For your customer or member on the phone, these waits can feel like an eternity and won’t win you any points.

 

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