How Your Financial Institution Can Ensure Customer Satisfaction

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By: IT Biz Advisor Staff|

Ogilvy

Driven by evolving technologies and customer expectations, financial institutions must provide richer, more convenient customer experiences than ever before. Decades of secure, reliable, anytime-anywhere ATM banking have led to a competitive landscape, and your customers’ experience with mobile technology’s personal, self-service engagement heightens their expectations even further.

Momentary downtime and other technology failures are simply not acceptable. At all points, your business should continue to prove and improve its value.

The ATM transaction is a vital touch point in your customer relationships. Bank customers visit ATMs seven times a month on average. That gives you seven opportunities per customer per month to make a meaningful, brand-enhancing impression. But if your hardware doesn’t work properly — even something as simple as empty ATM cassettes or jammed thermal receipt paper — those seven opportunities are lost to customer frustration and potential long-term damage to your brand’s reputation.

In a worst-case scenario, downtime can mean lower revenue, as customers move their accounts to your competitors. Limiting your ATM and mobile downtime is essential to giving your customers an effective, consistently positive experience. Your IT infrastructure depends on an active IT maintenance strategy to operate correctly and consistently.

Many institutions operate with IT infrastructures that combine new technology with legacy equipment built by various vendors and maintained by a complex, costly network of manufacturers that each support their own hardware and software issues. Such complex IT operations can challenge your efforts to put your customers’ needs first.

Establish Vendor Support

Managed support can offer a more efficient, economical strategy for ATMs and branch services. With an outsourced maintenance and support strategy, your business assigns one third party vendor as a single point of contact to oversee and maintain all hardware and software from multiple vendors. A vendor that uses predictive maintenance and analytics can help you keep your branch equipment in operation by identifying potential problems before they happen and scheduling interventions in advance, rather than reacting to disrupted service.

Finding those hidden issues reduces unscheduled hardware or software downtime before it harms your customers’ self-service expectations. A powerful data-driven analytics approach to support can also help your business, storing detailed information about each ATM in your network so you can uncover insights such as cash management and early-emerging anomalies.

Using analytics can also uncover broader insights about consumer preferences and profiles, letting you target marketing efforts with more relevance to your customer base. Flexible, vendor-agnostic support-structure solutions are designed to grow with your business as it continues to transform its technology.

In the near term, the availability, reliability and customer satisfaction you can achieve through using a single point of contact strategy can lead to a more positive, customer-oriented brand identity — and ultimately, higher revenue.

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About The Author

IT Biz Advisor Staff

IT Biz Advisor Staff, IBM

IT Biz Advisor strives to help business professionals – C-Suite and IT business decision makers – on their journey from idea to reality, and beyond, providing them with mentorship, tools and inspiration they need to succeed.

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