To keep up with ever-evolving consumer expectations, financial services are becoming more intricate. Financial service leaders are reimagining their customer journeys from delivering mediocre services to creating memorable experiences at every customer touchpoint. This transition to digital engagement is delivered through modern cloud contact centre technology providing innovative opportunities for growth.

Flexible, powerful and well-suited to the unique needs of financial services, cloud technology creates better experiences for both agents and customers.

Here’s how Cloud Contact Centre technology delivers quality and success for financial services.

What is Cloud Contact Centre Technology?

Genesys Cloud CX software is ideal for organisations wanting an affordable and quick-to-deploy contact centre solution. It is a fully-featured, configurable solution delivered with the simplicity of the cloud, enabling you to delight customers with rich, personalised experiences. It is the ideal solution for contact centres with 10 to 500+ seats.

Like all cloud solutions, Genesys Cloud CX is designed to be simple. It doesn’t require expensive hardware upgrades to manage calls, improve agent productivity or create unified communications; services are provided digitally, so all you need is internet access. Furthermore, Genesys Cloud CX can be deployed quickly in your contact centre with ready-to-go software — no extensive personalisation required.

Contact centre technology, then and now 

Even with cutting-edge technology, a financial service company’s contact centre may still be at a disadvantage if its solutions are exclusively on-premise. Cloud-based contact centre software delivers a consistently superior customer experience and brings together expertise, ongoing innovation and mature processes.

Here’s how the approaches compare:

On-premise contact centre solutions

In our survey from November 2021, “The State of CX 2022: A survey of the Australian financial services industry,” GSN found around 32% of survey respondents were still using outdated contact centre technology. This makes them vulnerable to a number of limitations, including:

• Rigidity: New solutions can’t be easily integrated into on-premise technologies resulting in bottlenecked processes when systems are incompatible and difficult implementation of new CX services.
• Long lead times: Deployment of on-premise contact centre solutions tend to be lengthy. This interrupts internal operations, CX efficiencies and impacts operational spend..
• High costs: Outdated technologies are expensive to implement, maintain and manage.

Cloud contact centre solutions

Unlike on-premise solutions, cloud contact centre software is quick to deploy, scalable and evergreen.

Here are some notable ways it differs from on-premise solutions:

• Better customer experience

When you can address customer issues and concerns quickly, on the channel of your customer’s choosing, you create better experiences and happier customers.

Genesys Cloud enables a 24/7 self-service experience with chatbots to handle simple customer enquiries or tasks and initiates context-aware transfers to agents for high-value interactions. The fully-featured out-of-the-box solution includes auto attendant, speech-enabled IVRs, call routing, call-back and reporting.

•  Reduce handle times

Solving problems faster reduces call durations and lowers internal operational costs. Route the right information and the right interactions to the employee best suited to help.

Integrate Genesys Cloud with your CRM so you can provide personalised, context-aware experiences.

•  Find new revenues

Customers will likely spend more when the experience is great. Connect buyers with the right agent at the right moment to increase conversions and sales.

How cloud delivers better CX in financial services

The transition to modern cloud contact centre technology requires a strategic approach and thoughtful deployment across the organisation. Once deployed, cloud solutions deliver a wealth of advantages for CX in financial services, including:

Better workforce management

Your frontline teams are responsible for significant portions of customer interaction, experience and overall satisfaction. Cloud solutions help empower these teams with a variety of tools, including staff scheduling products, AI-powered tools, employee engagement and performance improvement.

Better customer engagement

Sixty-nine percent of Australians say up-to-date technology is an important consideration when choosing financial service providers, according to PwC Australia. Further, KPMG reports 76% of Australians preferred digital service delivery — but GSN’s research shows most companies still rely heavily on phone and email.

To address this gap, contact centre software must provide efficient customer interaction in ways users actually prefer to communicate. This includes self-service options like chatbots and virtual agents — options that can be unified via cloud solutions. The result is better, more revealing engagement and, ultimately, improved customer satisfaction rates.

Channel integration

Genesys Cloud service enables your customers to interact with you across multiple channels: voice, SMS, email, web and social. At the same time, it enables you to integrate these different touchpoints under a single platform to provide employees with the necessary real-time and contextual data to offer personalised services for your customers.

Make your contact centre software more powerful and customised. Easily deploy and administer out-of-the-box integrations for your CRM solution and other critical business tools. Create transparency and visibility and give agents access to every step of the customer journey and history, enabling informed, personalised customer service.

Complaint management

Gain powerful insights with Genesys Cloud software. Dashboards with real-time data and historical reporting make it easy to understand your business and manage customer experiences across all channels. Cloud contact centres can handle their complaints more effectively as AI solutions automatically predict customer pain points, suggest action during complaint management processes and provide quality assurance throughout every customer interaction.

Simplified compliance

Navigating security and privacy regulations without interrupting efficiency or limiting CX personalisation, Genesys Cloud makes it easy to manage data from across the organisation. Cloud-based contact centres can also easily adapt to new regulations regarding customer complaints.

Start delivering better CX today

On-premise contact centre solutions are inherently limiting. Modern financial organisations need simpler, smarter ways to empower employees, unify disparate data sources and deliver unforgettable CX. Cloud solutions can do all this and more, digitising contact centre solutions with fast, affordable and user-friendly tools — all delivered and deployed over the internet.

If you’re ready to upgrade your CX, contact us today to begin the transition to contact centre technology like Genesys Cloud CX. With local expertise GSN can respond to your needs quickly – whether that be feature development, bespoke customisations, service and support, training or simply expert advice.