Are you putting your customers’ best interest first?

Posted on: August 24th, 2016 by Art Barger

Each day, banks should set out to earn their customers’ trust. This is not to say that they don’t, but focusing on creating a trustworthy and reliable brand is different than bringing real value to your hardworking customers. Here’s why.

Building customer confidence and brand loyalty comes down to how you treat your customers. Utilizing processes that have your customers’ best interest in mind are more meaningful to customers than simply focusing on how to enhance your brand reputation.  

Take the call center, for example. Using a caller identification tool that doesn’t respect your customers’ time and questions who they are each time they call sends mixed messages that can damage your profitable bank-customer relationships. While traditional knowledge-based authentication (KBA) solutions appear to create a trusted customer environment by asking callers a bunch of security questions, these methods for identifying callers can undermine your efforts to boost customer confidence and serve their needs in a timely manner. 

Everybody’s time is precious, and in today’s contact center environment, identifying customers already on the line takes too much time and can damage the goodwill of your customers. 

One of the things today’s on-the-go consumers value most is a positive experience. This means no interruptions to the banking journey. When your identification process requires agents to interrogate callers before addressing their needs, you no longer have their best interest in mind. Instead, the focus is back on you, and customers see that. 

In the article, “This is the Worst Customer Service Mistake You Can Make,” delivering a positive customer experience helps customers reach their goals and creates stronger brand loyalty. According to the article, when customer service is done right, 69 percent of American’s will recommend others to you. On the flip side, poor service will send 89 percent of your clients to a competitor. 

With customer identification tools like the TRUSTID® Physical Caller Authentication, banks put the customer’s best interests first by removing unnecessary barriers that can negatively impact their overall banking experience. TRUSTID uses telephone network forensics to automatically pinpoint the location of the calling device while the phone is still ringing. By identifying where the call is coming from, a credential is issued to let the bank know if the Caller ID or ANI is spoofed or if it’s coming from a genuine customer. With this information, the bank can act on the risk of the call in real time to automatically remove bad calls from the phone system or instantly route a verified good calls to an operator, who can begin addressing the caller’s needs rather than initiating a lengthy and costly telephone interrogation on calls that have not been verified.

With automated caller authentication, contact center agents don’t waste time interacting with impostors. This frees up phone reps to answer more good calls faster. Along with speeding up caller resolution times and providing better protection for your private banking assets, TRUSTID’s cost-effective authentication process provides a positive customer experience that’s in the best interest of your customers and your call center operations.