Why Banks Should Be Using WFO

When there was a run on the bank in the movie It’s a Wonderful Life, George Bailey used his significant people skills to convince the building and loan’s customers – who were his friends and neighbors – not to panic. My, how times have changed.

On the positive side, we now have the FDIC to insure deposits in U.S. financial institutions in the event of bank failures. On the negative side, we tend to have much more impersonal relationships with our financial institutions and those who manage and work at them.

But, many banks are working to create stronger relationships between themselves and their customers. The fact that there’s very little difference between the services offered by competing banks makes such efforts a business imperative.

One way banks can improve customer experience is by employing workforce optimization software. Research firm Ovum (News - Alert) says integrating WFO across back offices, contact centers, and regional hubs can drive branch transformation.

WFO software help ensure these touchpoints have scheduled the staff they need to address bank customer requirements. Those requirements may include requests for help with transactions, inquiries to check accounts for fraud, and details about new products and services.

Beyond ensuring adequate staffing, WFO software can record customer interactions. That gives financial institutions a way to gauge branch employee and contact center agent performance on the phone. They can then use that intelligence to coach these customer-facing workers to deliver better service. Plus, WFO software can assess customer satisfaction and predict customer behavior and needs.

“A workforce optimization solution helps assure every customer and potential customer receives the efficient service they deserve,” says Monet Software. “Plus, with WFO you’ll learn something from every customer engagement.” 

Edited by Erik Linask