In today’s ever-evolving world, customer communication is transitioning and the demand for implementing digital channels is surging. Digital banking is accelerating and customer experience in the banking sector is digitally transforming to consistently utmost level of satisfaction. For more information: Blog: https://www.novelvox.com/blog/top-8-trends-that-enhance-customer-experience-of-digital-banking/ Email: marketing@novelvox.com Phone No: +18885448081

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Top Trends
Revolutionizing the CX
for Banking Industry

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Overview of the Current Scenario
With the surging demand for implementing digital channels, customer communication is
transitioning and has become mandatory for the leading sectors including banking & financial
institutions to implement digital solutions to offer new-age CX.
It has been identified that the majority of the customers prefer a mix of digital and traditional
channels for banking needs and only 16% are interested in interacting personally at a branch.
This is a significant reason why banking service providers have no option except to adopt new
trends.
Digital banking is accelerating and customer experience in the banking sector is digitally
transforming to consistently utmost level of satisfaction.

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Stay Ahead of Change in Contact Center Industry
Today, around 50% of customers are of a view that instant support is a key to building loyalty and
banks offering real time support by leveraging live assistance tools stay ahead in the competition.
When Digital Banking Report asked financial institutions across the world about their top
priorities in the year 2021, the answers were astonishing.
The focus to enhance the CX was ranked second whereas, the topmost priority listed was digital
transformation. This is sufficient to acknowledge that the immediate shift to digital channels is
giving tremendous results.

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Top Customer Experience Trends in Banking sector
Analysing and understanding the banking customer journeys is requisite for a deeper understanding of
customers’ expectations. It helps banks to discover common queries, gain better insights, and identify the
touchpoints between customers and banks for offering the accurate solution.
Live Assistance
There is much more than just knowing about customers. Financial institutions need to map past
interactions, internal and external insights to customize the customer experience. Adopting ML or AI is the
perfect partner to help organizations grow.
Proactive Personalization Required
Chatbots have direct impact on customer experience as they are available to assist in real time. They are
considered as the best digital channel to automate regular tasks where human involvement can be
avoided. Bots can be leveraged to handle multiple conversations in different languages and time zones.
Use of chatbots

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Furthermore, mapping customers journey is a big advantage for staying competitive in the digital banking
experience. Improving retail banking experience requires truly understanding of customers and relating to
them in ways that they understand. Big data analytics is a vital aspect to enhancing operations of financial
services and making better decisions. The rising fluctuations in customer needs bring in the vitality of
leveraging big data analytics to gain deep insights into the same.
Leverage big data and analytics
Customers of modern times prefer multiple channels and platforms to connect their banks and financial
institutions. They are likely to perform the same banking operations on websites, apps, or more. Hence,
superior customer service is about consistently delivering omnichannel banking customer experience. The
actual omnichannel banking service allows real-time data synchronization across the channels and
customers can seamlessly perform multiple functions on their own.
Omnichannel customer experience

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Today, technology is the most crucial element of customer service industry.
According to PWC, “Customers expect technology to always work according to them. From website designs
to the latest applications, they want to feel familiar.” Hence, banking sector needs to adopt new digital
strategies for staying competitive and leading the industry by offering best-in-class support to its
customers.
Technology as an Enabler of Superior CX
With the surge in the number of customers interacting digitally, financial institutions are implementing
stringent processes for data privacy and identity authentication.
Maintaining the privacy and safety of data by ensuring a seamless digital customer journey is required.
Considering the threats, biometric-based security solutions are being leveraged across the sector.
Identity Verification Across Digital Channels

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Well-Designed Agent Desktop brings drastic results
Agent desktop is considered as a robust solution in today’s time allowing the banking sector to
establish a centralized control over banking operations.
Agent desktop for leading contact centers like Avaya improves agent productivity to serve
multiple customers efficiently.
NovelVox's Avaya Agent Desktop is a capable tool that can easily optimize data fetched from
multiple third-party applications as per the business requirements. The customization can be
done without running codes or performing complex data operations.
Avaya Agent Desktop also offers industry-specific agent desktop templates optimized for
businesses, dynamically populate relevant information for every call as per the IVR inputs, and
displays the relevant customers details even before answering the call.

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Close connection between customers & banks is Pivotal
Today’s tech savvy customers look for real connections with their banks and credit unions.
Customer experience in the Banking industry largely depends on efficient and prompt service.
Dissatisfaction in this sector is not unknown as major turnoffs are related to delays in handling
transactions, updates, password issues and more.
Hence, generating a well-designed digital customer and AI-powered journey is vital for banks to
get the best outcomes from their interactions.

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Biggest Library of Cisco Finesse Ready Integration

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NovelVox is among the leading contact center solution
provider in the world, having 5 global offices located in the
United Kingdom, United States, United Arab Emirates,
Kingdom of Saudi Arabia, and India.
With more than a decade of hard work in providing best-in-
class industry-specific solutions, we have made customers in
16+ countries with 150+ global deployments across many
business verticals, including Banking, Telecoms, Logistics &
Travel, Healthcare, Government, Education, and Retail.
NovelVox creates industry-specific Agent Desktops with further
optimization option to enable agents to offer personalized
experience. The solution results in having meaningful
conversations with the customers or citizens.
About NovelVox

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info@novelvox.com www.novelvox.com +1888544808