Engageware Offers Customer Engagement Insight

Customer engagement solution developer Engageware announced the release of the Customer Engagement in Banking Report: The Path Forward for 2022. This report dives into the professional goals for financial institutions, analyzing survey results from banking professionals at institutions managing between $500 million to $20 billion in assets. Additionally, Engageware researchers used these findings to offer strategic advice to address shared challenges.

Engageware’s report offers financial institutions suggestions in three specific areas, in order to build better customer engagement over the next year:

Reclaiming consumer trust is one of the most important goals for financial intuitions in 2022. Following two years of strict pandemic conditions and changes in the social/political landscape, consumers have become distriful of businesses and the information they provide for products and services. Financial professionals should focus on providing consumers with accurate resources and information for products and services, in order to build positive customer relationships both online and in-person.

Creating positive digital experiences should be a key focus over the next year. Pandemic restrictions are fading away, but the demand for digital support has only strengthened. Banks and credit unions should focus on developing their digital services, with a key focus on personalization and customization. With many customers working in remote settings during off-hours, the need for convenience service is also critical.

Addressing staff shortages and turnover rates is also a major area of focus financial institutions should address. Labor shortages are a problem for virtually every business sector, but for those with customer-facing roles, the issue is even greater. To provide customers with the service they expect, integrating workforce/contact center solutions may be useful for institutions with high customer volumes. However, leaders should be cautious about becoming overly dependent on technology, as low quality systems can cause frustrating experiences for both customers and service agents.

“Taking a closer look at some of the key data, we found digital continues to be the top priority for 2022,” commented Bill Clark, President and Chief Executive Officer of Engageware. “However, nearly 40% of banking professionals consider digital and employee-assisted channels to be equally important in driving their customer engagement strategy. Banks and credit unions should remain mindful that more technology does not always equate to a better customer experience, nor does it guarantee streamlined operations.”

Edited by Luke Bellos