The pandemic has intensified an existing challenge for financial services businesses – specifically how they handle the crisis and build solutions for this ‘new normal’. But while it’s recognised as a challenge, it has also provided a great opportunity with respect to how they can innovate and drive a return to profitability in what’s recognised as a tough economic period.
Customers are already engaging more and more with brands online. But
while apps, chat, web journeys and bots all have their place, the individual
channels have limitations and when journeys get more complicated, it can be
difficult for customers to get support without switching from the channel they
are in, calling the brand or visiting in person. This is expensive for the
brand to support and frustrating for the customer. And it’s often leaving money
on the table in terms of missed sales opportunity. At Vizolution, we
give frontline staff the digital tools to bridge the gaps across all of the
traditional contact channels and to support the more complex customer journeys
in a streamlined way, just as they would in a face-to-face experience, but
remotely. Our technology lets the agents engage customers, share screens,
exchange documents, and collect e-signatures just as if they were
there in person.
We work with major global enterprises across financial services, telecoms and insurance and, on average, our clients typically increasing sales (with conversions up by 40%), reducing costs (with transaction times cut in half) and improving CX with Net Promoter scores of 80+ with the additional benefit of guaranteed compliance.
At RBS: we’re powering the world’s first paperless mortgage,
facilitating £20bn of offers and shaving 11 days from the mortgage application
· At Santander: we’re driving a 45% increase in conversion rate for credit card applications.
· At HSBC: we’re enabling a 90% reduction in transaction completion time for unsecured loans applications.
But across the board we’re seeing significant conversion rate improvements in sales journeys, efficiencies in bereavement journeys, greater returns from collections journeys, revenue uplift in cross-sell journeys, higher scores in customer retention journeys and so on.