Simpler the processes, happier are the customers. But, it’s easier said than done. Financial executives are working towards creating a perfect, continuous customer experience that rides on digital. They are striving to deliver targeted, cross channel, just in time product buying or service journeys. As credit cards are one of the most popular, profitable, consistent growth products for financial institutions, it makes sense to design convenient, effective seamless credit card journeys.
Age of self-service:
For customers, today is the age of instant fulfilment. Thanks to smartphones, they demand hassle-free, seamless and straight through experience. Designing personalized digital credit card journeys with self-service capability will deliver a truly digital experience.
Here are a few journeys to make credit card customers’ life easier:
Modifying Credit Limits:
While this activity might sound quite simple, ask anyone who wanted to modify their credit limit. They have no idea who to talk to. Net banking may offer a limited approach. While it is the bank who decides the maximum credit limit for a customer, wouldn’t it be simpler if the customer was in control, within reasonable credit limits? A robust digital journey can reduce this task to a few simple steps wherein a request can be raised at the press of a few clicks.
Address, phone number change:
How simple is changing your registered address and phone number? Customers stuck with legacy systems often has to deal with cumbersome offline methods. With codeless digital journeys with straight-through processes, customers can themselves change the details themselves and submit proof right in the journey.
Card Upgrades: John is on a business trip. He lands at Heathrow Airport and walks through the terminal for his connecting flight to Mumbai. As he passes a billboard for his bank, he receives a text message offering him a credit card upgrade, one with better dining, travel and reward perks. When he opens the message, he is taken to a personalized web page that provides benefits and features based comparison of his existing card and the new one the bank is recommending. He simply taps an “apply” button to start the upgrade process. When he does, another message appears prompting him to take and upload a “selfie” so the bank can authenticate her with digital scanning.
Resolving cases: Raising a case for an issue often takes a lot of time. Most of the time the method is not clear, and it creates unnecessary problems for customers. Having a simple journey that can help your customers solve a problem and they can have an option to get an assured callback. In this journey, customers can also verify their identity, raise their issues and then get prompt responses that will ensure that a quality experience is always maintained. All these self-service options are important for the customer and they want to be able to do these themselves without wasting time and waiting for processes of banks. If customer requirements are taken care of as and when they demand, financial institutions can enjoy automated, consistent retentions.