Knowledge Base

5 ways in which Banks and SME Loan Providers Can Boost their Customer Service

It’s the age of Digital Transformation and businesses across industry, are upping their game to stay relevant and effective. Financial entities such as banks and loan providers are faced with challenges of their own. SME pain points regarding lending establishments reflect qualities such as not being completely in tune with SME needs and still utilizing traditional sales and services models.

Let us have a look at these and a few more to know how banks and SME loan providers can boost the quality of their customer service:

1) Provide self-service and self-assessment tools

Banking is a personal matter and most consumers prefer to do their own. Luckily a large portion of the banking or loan applying consumer base is technically adept. A safe, easy and user-friendly mobile app is the solution to offering customers the self service option for most functions.

Though most banks have mobile apps, it’s important for them to gauge the effectiveness of their applications and ease of usage.

When it comes to SME loan applicants, a value-adding self assessment tool that allows customers to refine their applications, would save time in the acceptance process and avoid frustrating eager consumers.

2) Offer omnichannel communication options

Customers from various age groups, locations and socio-economic brackets, hold specific preferences to conduct their banking activities. Many still like to visit their nearest branch for issues while others opt to raise tickets or call customer support teams.

Whatever the preference may be, every financial body dealing with varied consumers must offer the facility of being available via a toll free number, chat-screen, email, or a physical outlet.

3) Give factual and updated information

Banks need to keep their customers happy by ensuring they trust and rely on them for their financial needs and security. Many consumers turned to businesses and brands for the latest updates on COVID-19 and subsequent lockdown.

Hence, regular communication in the form on notices, Whatsapp messages or emails from the company is appreciated by consumers, especially during present times. Customers also prefer positive communication rather than receiving negative updates, even though they may be true.

4) Provide resource bank of blogs, tutorials

A well stacked resource bank of interesting blogs, articles, infographics or video tutorials will advance a bank’s online standing and authority status. Participate in discussion channels such as Quora and provide original, insightful data that boosts your credibility.

5) Grow through feedback

Banks that plan their growth path based on customer feedback as guaranteed to succeed. Develop detailed feedback mechanisms and combine this with consumer data to alter, improve and customize solutions, based on consumer tastes and needs.

Tracking your customers across every touch point, offering surveys or making feedback calls can be handled and analyzed by a trained customer support team.

Syrow – Your after-sales customer support partners

Syrow is one of the top Customer Service Outsourcing companies in India, that offers a complete suite of Customer Care Services for you to take the first step towards Customer Satisfaction and Business Excellence.

Our customer care center works on behalf of clients, to manage tasks efficiently using quality processes & services. By adopting a research-led approach, Syrow equips organizations with powerful insights that can transform the way they perceive business challenges.

Our teams consists of domain-specific experts who can help companies develop innovative strategies in order to compete and win in the industry segment they operate.

For guidance or services for your customer service requirements, contact us today. Our teams are waiting to hear from you.