Dive Brief:
- Even though 4 in 5 consumers prefer to pay their credit card bills online or via mobile app, more than half want phone support for customer service, according to a survey of more than 1,500 credit card holders by TD Bank and Big Village Insights released last week.
- More than half of respondents say the digital experience comes into play when choosing a credit card, while over two-thirds say customer service quality is a factor.
- Digital tools are on the rise, particularly for simple tasks like paying bills, but customers still want the reliability and personalized assistance live agents can offer over the phone, according to TD Bank.
Dive Insight:
Customer expectations call for financial service companies to provide a combination of useful online tools for everyday tasks and friendly customer service for more advanced issues.
Banks and credit card providers can integrate personal finance management tools into their online offerings to create an optimal digital experience, according to Cassandra Happe, analyst and communications manager at WalletHub.
Key offerings include credit score monitoring, spending analysis and budgeting features.
“Research shows that when customers engage with three or more of these tools, customer satisfaction increases, underscoring the importance of personalized financial management in enhancing the user experience,” Happe told CX Dive in an email.
Virtual assistants are gaining importance as well, particularly among younger consumers, according to Happe. These tools can help with basic transactions like checking balances while providing personalized guidance.
However, live agents remain an essential part of the banking experience. Robust phone support helps ensure customers feel heard and supported when it matters the most. This can include billing disputes, fraud concerns and assistance with personal financial management tools.
“While digital assistants can handle routine tasks effectively, customers facing nuanced issues often need the reassurance and tailored solutions that only a live agent can provide,” Happe said.
Companies need to offer a seamless support system that offers a good experience no matter how customers choose to engage, Happe said. This includes investing in comprehensive training for agents and prioritizing security and personalization for digital tools.
