Home CSP Insights
Blog Detail

3 Hybrid Banking Trends

21 February, 2023

Most executives and leaders at financial institution are constantly trying to weigh the efficacy of a human touchpoint versus a digital offering.

Humans offer the ability to train, solve complex scenarios, adjust on the fly, solve multiple problems as universal bankers, and provide an exceptional customer experience.

Meanwhile, digital offerings have the ability to utilize customer data, automate communications and control costs.

The reality is that the “sweet spot” is a combination of the two forms of communication and interaction, knowing when and how to utilize one versus the other, and how to get them to interact in a way that enhances the customer experience.

Consider the following ways that hybrid communication, or the combination of human and digital, can create the best possible customer experience.

Complex Situations Need a Human Touch

When a customer is experiencing a particularly frustrating issue, they’re at risk of developing a negative opinion of your brand. Typically, complex problems such as account problems, major financial issues, extremely complex issues or any technology issues that aren’t quickly solved are best handled by a human representative.

When thinking about your hybrid model, human interactions are a great option as a last resort. This isn’t to say human interaction should be reserved for last resorts, but rather, they are good options when all other tech-enable options fail. Always make sure that a human can be reached when a customer becomes particularly escalated so they can set the situation right and avoid attrition due to a particularly negative experience they can’t get resolved.

Straightforward Scenarios Create Valuable Self Service Opportunities

The ability to self service isn’t a burden, but in fact, is preferred by a large breadth of consumers, particularly when it comes to relatively straightforward questions regarding accounts and technology. On top of FAQs, tutorials and informational pages, chatbots are an increasingly sophisticated and viable option to solve everyday problems and tasks.

Video is Valuable

An increasingly popular option for human interactions is through scheduled video interviews. On top of being able to avoid waiting times, the convenience of getting the personal touch of a human while the convenience of being within one’s home is a win-win.

Most consumers express dissatisfaction with long wait times, but only do so when they feel speaking to a customer service representative is the only way to solve an issue. Whether it be a complex account problem or something such as a business loan or other offering that requires consultation, make sure your organization is making the most of scheduled, human-facing, one-on-one video calls to optimize the hybrid customer experience.