Financial services competitive advantage through streamlined customer experience

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Customers have come to expect online transactions that are fast, secure, and available to them at all times, across all of their digital devices. And, like most industries today, the financial industry needs to provide excellent customer service in order to keep a competitive advantage.

Traditionally, financial services businesses have been concerned only with transaction-centric methods of customer service, but the marketplace has changed and now demands a more customer-centric focus that builds trust and strong relationships.

What is clear now is that understanding the needs of customers is pivotal for success in the financial services marketplace. In this blog we look at not only the importance of this but also at how to achieve this understanding.


Customer service processes

By focusing on customer service processes you’ll ensure your customers are delivered the best service possible. So how do you do this?

  • Monitoring customers can help build a robust roadmap that enables businesses to get greater insight into online behaviours. Businesses can then provide services that are segmented and personalised for individual user needs, making for easier future communications management.
  • The increase in the use of mobile phones to interact with financial service providers means it’s increasingly important that businesses find ways to stay in touch with customers on the move.
  • Any offline services provided must merge seamlessly with online offerings to ensure information is shared quickly and with little risk of error. By providing a flawless user experience, customers are less likely to seek out the offerings of competitors.

In the fast-paced financial services environment, businesses should be increasingly looking to cloud software solutions that allow them to innovate and grow, while still meeting regulatory demands. They must focus on putting customer needs at the forefront of their strategy, and create systems that are connected, with less touchpoints for customers to navigate.

Customer relationship management with Dynamics 365

The changing needs and demographics of customers require services that are agile enough to fit in with their busy lives, and personalised enough to make them feel cared for by businesses that they trust with their livelihoods. Dynamics 365 enables financial service providers to fulfil and exceed these demands.

Dynamics 365 technology can help financial services businesses build a powerful customer relationship management (CRM) system. By integrating its powerful cloud software technology, businesses can transform their manual processes with automated systems that ensure they are able to deliver the best customer service possible.

The customer relationship management (CRM) software gives a “360-degree customer view” that builds a complete picture of an individual. It allows businesses to provide customers with offers and services that are pinpointed to their individual needs and financial aspirations.

Financial advisors or customer service agents can make use of the highly efficient tools provided to reduce administrative tasks and overheads. This gives the ability to focus on maximising time building solid relationships with customers.

Firms can create streamlined automation processes for their teams and quickly build frameworks to provide solutions for compliance, risk management, and other possible scenarios.

Dynamics 365 software provides a cost-efficient solution for financial service businesses to achieve quality relationships with their customers. By streamlining operational processes and integrating cloud technology across all channels, financial services specialists can adapt quickly to the changing needs of both customers and the industry landscape while maintaining a competitive advantage.


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Financial services, Customer service