Try as they might, financial institutions aren’t succeeding at their attempts to prioritize customer satisfaction.

It’s not for lack of financing, though. Retail banks spent $250 billion on information technology in 2022, up 4% in 2021. Unfortunately, digital technologies layered onto phone-based infrastructure only serves to create silos and inefficiencies. On the other hand, the right single, cloud-based customer service platform creates a seamless customer experience. Some of the specific perks of this type of system include:

• A decrease in average customer service handle time by 21%
• Smaller customer service staffs that can handle 13% more customer engagements
• Faster resolutions that translate to a decrease in customer wait time by 40%, coupled with more valuable and personalized service