The Role of Case Management in Banking

Case management is paramount in digital banking, as it is one way to streamline the highly complex network of operations you handle daily. It lets you eliminate human error, find bugs, look for potential problems in your procedures, and even aid your communication with third-party integrations. Most importantly, it reduces the need for traditional communication in your organization.

As such, effective case management should be a priority of any organization operating in finance and should affect most ongoing processes in it. With all of its impact on different areas in banking, it shouldn’t surprise you that case management affects customer service as well, though it often does this indirectly.

Effective Case Management as a Way of Boosting Customer Service in Banking

If you measured the effectiveness of your customer service and found out that it underperforms, it might be that the issues lie in your case management. The better it is, the higher your customer satisfaction will be. How does it work? Let’s look at several examples illustrating the link between customer service quality and effective case management in banking.

Faster Responses = Better Customer Experience

For starters, effective case management means that you solve your customers’ requests and queries faster since the whole process is optimized. As a result, your clients are happier, and your teams can service more customers in less time.

Customer-Friendly Procedures

Banking is highly regulated, which means that… you implement many procedures to stay compliant, right? At the same time, clients perceive this completely differently—they see inconvenient, long processes that, in their opinion, could be shortened and made significantly easier. How do you find a golden means?

With an effective case management system. When using an IT tool for case management in digital banking, you get a full overview of your operations. You can spot bottlenecks and processes that are the hardest (or most discouraging) for the customer and improve them.

Streamlined Communication

Real-time data integration is one of the current trends in case management, and adopting it can do wonders for customer service teams (and not only) in banking. Why is it so?

Many cases from different departments overlap. This means that various teams in your bank require the same pieces of information. Ultimately, those teams that acquire that information directly need to exchange it. With digital case management, this becomes easier since all data is integrated into a single source of truth. As such, the customer won’t get frustrated by being asked about the same things over and over again, and your teams will be able to solve particular cases much more efficiently without errors resulting from traditional communication.

How to Achieve Effective Case Management?

Knowing the benefits, let’s talk about making your case management more effective. What do you need to know and do? Here are some of our tips in a nutshell.

• Implement standardized workflows.
• Monitor and analyze your performance.
• Use good case management software.
• Open multiple channels of communication for your clients.
• Train your team in the new software and best practices.
• Stay flexible, especially for non-standard cases.
• Use case prioritization to ensure that every case is handled, but the most critical ones will be processed first.

The Takeaway

With effective case management, your banking customer service will become better and better. After all, using specialized software and improving the way you handle each case will help you accelerate your customer support, make it less strenuous for the clients, and enable your team members to access the most up-to-date, accurate information. Hence, implement measures to boost your case management (whether they will be software components or special procedures) and reap the benefits of such efforts!

Read more about our customer engagement platform—read our entry on how to use LiveBank for case management!