Whether we like it or not, money is a constant in our everyday lives. It shouldn’t thus come as a surprise that clients often want to contact their bank at unusual hours. If there are no consultants available when clients need one, they are likely to give up on trying to contact the bank altogether and soon forget what they even called for in the first place. But there is a way to ensure that clients always have access to the information they need without making them wait on a phone line when customer support agents are busy.
According to data by Forrester Research, as many as 44% of all clients believe that the ability to talk to an actual human being while considering an online purchase is one of the strongest factors influencing their buying process . Providing this option is easier said than done, especially for banks, which tend to be open roughly at the same time their clients are at work, leaving them little to no time for talking to consultants. However, thanks to solutions such as live chat, banks can be at their client’s service around the clock.
Uninterrupted and consistent omnichannel communication
When you use popular messaging apps like Facebook Messenger, it may often seem to you like the conversations never really end. After all, all messages and the entire conversation history are easily available to all parties. We can even send a message when the recipient is not active. Thanks to that, we don’t need to remember to send the message later. Our thoughts are expressed spontaneously as they come to mind. It is especially important now as, according to Brian College, millennials change the subject of their thoughts 27 times an hour on average, tending to their everyday business somewhat “by the way”, as part of a process that is long and full of interruptions .
This is precisely how Live Chat works. Now its potential can be used by banks as it is one of the features of LiveBank, the virtual bank branch solution. When the software is integrated with the bank’s website and mobile application, the client can contact the bank at any moment, whether there are consultants available or not. The client’s messages will be stored permanently for the consultant to see. Each consultant will also be able to see the messages of all consultants that participated in the conversation. When compared to a call center, this solution allows banks to spread out the workload more evenly during a day. No longer will there be a need for long meetings to be scheduled to take place before or after the client’s work. Instead, the client can simply send their message instantly and then respond to the consultant’s answers as the day goes by.
What’s more, Live Chat can take advantage of all standard LiveBank features. It means that the client can request a video conversation, share a screen, co-browse with the consultant, all the while exchanging links, files or documents.
Live Chat in practice – following in the client’s footsteps
Since Live Chat is so versatile, the number of ways in which it can be useful for both the client and bank is truly enormous. Let’s go through one of them to see an overview of its most important features.
1. The client just got a break at work and decides to contact their bank with regards to a mortgage loan, using their mobile app. They begin a text-based conversation with a consultant via LiveBank’s Live Chat.
2. The consultant readily answers all questions. However, the client is busy with their work and can only answer back every once in a while. This on and off conversation lasts a few hours.
3. The next day, the client is much more active. They return to the chat and continue the previous day’s conversation. The consultant can see the entire chat history as well. During the chat, the consultant takes advantage of screen-sharing in order to explain the offer in detail. The client also asks about the documents necessary to sign a loan agreement.
4. The client spends two days analyzing the conditions of the agreement and preparing for what comes next. Eventually, they contact their bank again—this time via a chat on the bank’s website. The consultant is now different. However, thanks to the chat history, they quickly learn all there is to know about this case.
5. The client and the consultant start a video conversation to talk about details. They soon start filling in the loan application. The consultant uses screen-sharing to highlight the most important areas of the application.
6. Two days later, the client finally gathers all the necessary documents to apply for the loan. But it’s late and the consult is no longer available. The client still uses the chat window to attach a few files for the consultant to see later.
7. Early the next day, the consultant lets the client know that everything is ok, sending a link to the loan application summary. Once the client approves it, the application is considered to be properly sent.
Innovation or standard? Either way, everyone wins
Live Chat is yet another functionality that proves extremely beneficial for both clients and banks. Clients enjoy easy access to advisors, without having to fit a conversation into their schedules. The banks are happy about increased customer satisfaction and the fact that consultants no longer need to waste time getting familiar with complicated cases all over again, irritating clients with repeated questions, but instead use the chat history to learn all the details. It’s also still a way for banks to stand out from the crowd. While live chat solutions are common in popular messaging apps, the customer service solutions typically used by businesses rarely have the ability to provide a “continuous chat” experience like this.
Every detail matters
In modern banking, flexible and convenient customer service may be the key to winning people over. Busy clients are more and more eager to use technological innovations to save time. They are often hesitant to visit a physical branch office. Solutions like Live Chat may not only help optimize important processes and increase customer focus, but also go a long way toward generating conversions in the full sense of the word. After all, like they say, time is money.