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Three Things Banks And Credit Unions Can Do To Improve CX

Three things banks and credit unions can do to improve CX

“Ensuring teamwork — across all channels, locations and job functions — is crucial to providing an optimal customer experience.” — Steve Pappas, Panviva SVP of North American Operations

With competition from online financial providers ever encroaching, it’s becoming increasingly important for banks and credit unions to deliver optimal service at all times. There are three key lessons every financial institution can learn to improve the customer experience:

#1 – Strong teams are crucial

It’s important to get all of your employees working toward the common goal of serving your patrons, regardless of whether they interact with customers directly. Your agents may be the face of your company, but they’re supported by an entire team of employees your customers may rarely see. Ensuring teamwork — across all channels, locations and job functions — is crucial to providing an optimal customer experience. Teamwork improves the customer service, which in turn improves your bottom line.

#2 – Speed doesn’t always win

Speed is an important factor in customer service, but moving too fast can be a bad thing. The faster you go, the more susceptible you are to making a mistake. A simple error on a bank customer’s account could send them straight to your nearest competitor. Slow down and ensure that the race to finish fastest doesn’t supercede proper protocol. It’s more important for the job to be done right than fast. Customers want a speedy resolution but by following proper processes and procedures, you will avoid duplicate work, escalations to managers and costly mistakes — ultimately improving the customer experience.

#3 – Precision takes all

While it’s important to deliver fast service, it’s more important to be precise. When you place precision above all other priorities, everyone wins. Customers can rely on expert service that’s 100% accurate. They get their questions answered correctly. Most importantly, they can trust your bank or credit union to have their best interest at heart.

How Panviva can help your bank win

Panviva’s knowledge management solution puts the above three lessons to work for financial institutions of all sizes. Housing essential data in a single access point provides a common anchor for your entire team. Being able to access data quickly can help streamline customer interactions without cutting corners. But most importantly, it ensures every employee is pulling from the same information – the right information.

Take Panviva for a free test drive and discover how a central knowledge management system can help you deliver a better customer experience.


Stephen Pappas

With more than 20 years experience in enterprise software sales and operations, Stephen Pappas manages all aspects of Panviva’s North American operations. He previously served as a Director of International Sales with Harte-Hanks Trillium Software, where he took their enterprise data management offering to 54 countries. Other roles have included Executive Vice President of a SaaS software start-up and Director of Sales and Business Development at PageFlex.

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