How FinTech Companies Can Improve Their Customer Experience

No areas of business are straightforward. The finance and banking industries are some of the most challenging to navigate. However, navigation is slowly becoming more straightforward since the two sectors \ constantly evolve to accommodate change and the future of the financial services industry.

One of the most significant evolutions is that of financial technologies, otherwise known as ‘FinTech.’ This has provided companies operating in this industry with various benefits, one of the biggest being an optimized customer service experience. But how can FinTech companies improve it further? We discuss this in more depth in our article below.

Improve User Experience

Bad user experience can be infuriating, especially with finances involved. You want to avoid your customers having the same experience. This is why user experience and customer experience are linked. Ultimately, you want a platform that is easy to use, accessible for everyone, able to be used across all devices, and has a reputation for not having any issues.

If you struggle to find a solution, you could expand your knowledge of the technologies and innovations setting the future of FinTech by achieving a FinTech certificate. By completing a FinTech course, you will be awarded a FinTech certificate. This can be applied to your organization to enhance your current customer experience. It will help ensure customers will not get frustrated due to not having the latest tech gear to access your products/services. Overall, improving your customer satisfaction levels and your credibility.

Handle Customer Queries ASAP

Experiencing an issue with an account can be concerning for customers. The issue can be heightened if they cannot speak with anyone to resolve it. If the issue involves their personal finances, you will find that they will be very eager to resolve the situation as soon as possible. If not, they will likely find an alternative FinTech company to handle their affairs.

To prevent this, it is essential that you provide around-the-clock customer service. This way, you can handle customer queries at any time, even when your customer service team isn’t on the clock. This is where artificial intelligence (AI) comes into the picture, which can help you answer customer queries without human interaction. According to studies, one out of three consumers says that chatbots were helpful in resolving their issues. Failing this, you might need to implement a system that facilitates transfer to a live agent should they not be able to answer their query.

Don’t Send SMS Alerts Only

While sending alerts can be incredibly helpful for reminding customers of things or alerting them of changes, your organization should avoid sending them solely over SMS and email if you want to optimize the customer experience. Since people can receive hundreds of emails/texts a day, it’s easy for SMS/email alerts to get lost in the backflow, which is less than ideal.

One of the best ways to ensure important notifications are noticed is by sending them via another channel like WhatsApp since it has a noticeable pattern of reminding people when messages have yet to be read. Therefore, it mitigates the risk of customers not seeing important alerts and ensures high satisfaction levels.

There are plenty of ways for FinTech companies to improve their customer experience. The ones mentioned above are just a handful worth considering.