Elevate your customer's financial journey with the Cloud

Building more meaningful personal relationships with customers could help banks boost their revenue by up to 20%.

By moving your contact centre to the Cloud, you will have access to the tools you need to provide more human experiences that not only meet customer expectations but exceed them – leading to a positive impact on your business.

Moving to the Cloud will put an end to difficult upgrades, rigid functionality, complex integrations, expensive maintenance and the need to use multiple vendors. Instead, you'll gain the flexibility and scalability required to meet your customers’ needs.

By moving to the Cloud, Capital One reduced transaction errors and time to resolve critical incidents by 50%.

With access to streamlined and efficient tools, your agents will feel empowered to be more connected, empathetic and able to focus on your customers during every interaction.

A hybrid approach

Digital transformation in the Cloud is increasing across the board. The global Contact Centre as a Service (CCaaS) market is expected to grow to $16 billion by 2032. But two thirds of banking customers still visit their local branch if they have a specific and complicated problem.

So, financial services providers need to upgrade their online and in-person services to be able to meet customer needs.

Legacy systems are difficult to update, clunky to operate and unable to provide the experience customers have come to expect.

Moving to a cloud-based contact centre is the logical path forward. Cloud-based customer experience (CX) technology supports customer and agent needs for speed, channel choice, personalisation, and system cohesiveness.

Cloud-based systems streamline the integration of CRM and unified communications (UC) tools with the contact centre, bringing data from multiple systems to one screen and simplifying your agents' ability to deliver successful customer experiences.

These systems also streamline in-person customer services, enabling agents to quickly process and resolve the customer’s challenge. The agent can log the customer interaction on the CX platform, so if the same customer ever uses a different method of communication for the same challenge, the agent will be able to see the previous interaction.

Offer personalised experiences

Personalisation is considered highly important to 72% of financial services customers. In addition to helping retain customers, personalisation lowers acquisition costs by up to 50%.

Personalised experiences could include offers and discounts for customers to spend on the brands they love or recommending financial products based on individual preferences and transaction history.

These experiences are made possible through data analysis. With the Cloud, financial institutions can analyse data at scale. For example, since migrating to the Cloud, HSBC has analysed 100 Petabytes of data, which is 100 million Gigabytes – a huge degree of insight into their customers.

Integrated AI and machine learning capabilities enable you to analyse customer data and create experiences specifically tailored to each individual.

But these personalised experiences are only successful if they reach your customers where they engage with you. With over 60% of web traffic originating from mobile devices, omnichannel, multi-device digital journeys are vital.

The key is to seamlessly connect and unify every step of the journey, allowing customers to transition between channels effortlessly.

Moving to the Cloud provides the means to meet these expectations. Cloud-based CX software tools enable you to create a coherent, uninterrupted dialogue, even as customers move between different channels. You can seamlessly integrate personalisation into every interaction, across every platform.

Take inspiration from different industries

Almost half of banking customers would leave their primary bank for a better digital shopping-like experience. But only 20% of banks continually optimise their customer experience.

Customers are becoming used to easy and quick communication with brands and businesses across industries and across platforms. It’s no longer a given that you have to sit on hold for hours to get in touch with customer services, but the financial services industry is a little behind the curve.

The good news is that banks that do consistently optimise the customer experience will grow three times faster than those that don’t. So, providing a great experience isn’t just a way out from your competitors, it’s the key to business growth.

Delighting customers might seem challenging, but it's a worthwhile investment for your business. Positive experiences can improve your reputation, equity, and market share.

Modernise your contact centre

Banking customers still value in-person interactions, but that doesn’t mean they don’t want a modern experience. They still want to be able to resolve challenges online or seamlessly move online after an in-person interaction. And they still value personalisation.

You can meet and exceed your customers' expectations by moving your contact centre to the cloud, giving your business access to advanced tools like AI-driven insights, seamless omnichannel integration, and personalised interactions. This shift enables you to provide the fast, convenient, and human-centric service that today’s customers expect. Alternatively, sticking with your legacy system may leave you struggling to keep up with evolving demands. As competitors embrace modern, cloud-based solutions that offer flexibility, scalability, and superior customer experience, you risk falling behind your customers and may seek out those who can deliver the service they expect.

Five9 is revolutionising the way businesses engage with their customers. By meeting customers on their preferred communication channels, streamlining operations and harnessing the collaborative power of intelligence, AI, automation, and cloud technology, we empower your business to enhance agility and scalability.