Customer-centric means putting customers at the center of creating products and services to deliver the best possible experiences for them. This definition has become a frequently mentioned term in recent times, but many banks are struggling with the operational challenges of turning this concept into reality.
Within the scope of this brief article, Bellsystem24 Vietnam would like to outline the first steps to support banks in transitioning their operations to a customer-centric model.
1. Build, integrate, synchronize, and unify customer data
Banks regularly collect vast amounts of data throughout different stages of the customer journey—sales cycles, introductions, customer service requests, etc.—across multiple channels, including hotlines, email, tellers, social media, third-party resources, and more. Not to mention that during customer interactions, a great deal of data from many different departments accumulates.
However, this abundant data source will be meaningless if it is not synchronized, processed, and analyzed. Banks need a highly secure, integrated multi-channel solution to store, synchronize, and process information and data.
For example, the solution Integrated multi-channel call center Telehub will help centralize the storage, management, and monitoring of all customer data at the bank in a single location. It will also standardize work processes between specialized departments. Some other advantages of the system:
- There is clear decentralization for many departments in the enterprise. Allows decentralization & personnel management according to specific & individual needs.
- Customize the functionality and operations of the management reporting system to ensure a high level of management precision and task implementation.
2. Commitment to gaining a deep understanding of customers through accurate customer segmentation and personalization of customer needs
Many businesses fail at this step. Without systems, technology, and effective analysis from experts to classify and identify customer profiles among massive amounts of data.
Or using incompatible systems and technology. Many traditional banks have lost customers due to a significant decline in customer experience when, during the same period, a customer was bothered by advisory calls from different teams such as the Insurance team, the Investment team, etc.
First, banks can segment their customer base using general demographic data, then gradually move on to building detailed individual customer profiles. Typically, customer profiles will include the following information:
- When learning about "Attitude," the bank may ask customers whether they feel confident about financial matters. If their answer is "No," that customer may be a prime candidate for financial advisory services.
- With "Personal Preferences," the bank can ask customers whether they want to handle customer service requests themselves or need assistance. If they want to handle it themselves, the bank can encourage them to use self-service options such as the mobile app.
- With "Milestones," if customers say they just got married, the bank can target them for marketing campaigns about low-interest home loans.
With its diverse range of products and services, including insurance, credit, loans, credit cards, investments, etc., building and maintaining customer profiles will help banks develop accurate customer engagement strategies that reach the right people at the right time, thereby improving their ability to close deals.
Personalization and a convenient experience are also among the driving forces behind Bellsystem24 Vietnam's continuous research and innovation in technology and processes.
For example, Bellsystem24 Vietnam can help banks create separate web portals for each customer. Customers simply scan their own QR code, and a dedicated web portal for them will appear. With this web portal:
- From the customer's perspective: All service information that the customer uses with the bank will be displayed. Customers can easily find out which insurance package or corresponding bank service product package they are using.
- From the Bank and its partners (e.g., Insurance Partners): Easily view customer profiles on a unified, synchronized interface. The web portal not only provides transaction history information, but also offers suggestions and 360-degree customer analysis based on personal preferences, spending habits, family status, special desires, or motivations for using banking services. From there, both the Bank and its partners will know how to best suggest, interact, cross-sell, up-sell, and serve customers.
- Automate and simplify certain procedures such as debt reminders and payment reminders. For example, the web portal system can send payment schedule reminders to customers. This helps reduce operational pressure.
3. Proactively predict behavior and develop appropriate activities to enhance the customer experience.
Another way to combine strategy and technology to make banks more customer-centric is to use predictive analytics. When accumulated over time, data in CRM systems can be used to identify behavior patterns and build predictive models that reveal insights about valuable or underperforming customers. For example:
- After reviewing transaction history, if a customer has a recorded history of visiting a branch location in person, they are likely to do so again in the future.
- After monitoring customer interaction history, if customers frequently call with simple questions, and the average hold and wait times reach 20–30 minutes, the Banking Operations Division may propose building a separate Knowledge Base page with relevant FAQs and an intelligent chatbot so customers can quickly find the answers they need. At the same time, this solution ensures that only complex service requests are transferred to the call center, helping to reduce call volume and wait times while improving customer satisfaction.
Providing valuable assessments and predictive analyses is also one of the many strengths that partners in the Finance and Banking industry highly value in Bellsystem24 Vietnam.
In addition to providing predictions based on CRM, Bellsystem24 Vietnam also offers numerous recommendations to enhance and optimize workforce productivity, leverage technology to improve business processes, thereby delivering a seamless, fast service experience for customers. Providing valuable pieces to create a professional, in-depth workflow, helping banks accurately assess and predict.
For example, implementation consulting, providing additional tools to receive feedback and measure customer satisfaction levels such as Happy Call/Happy Survey via Contact Center, Net Promoter Score (NPS).
4. Retain customers
Once customer satisfaction has been achieved to some extent, the bank can fully enhance customer retention and loyalty through appropriate follow-up customer service activities. Use data-driven analysis to determine what types of incentives will attract customers. Develop a user-friendly portal that allows customers to easily track and redeem the points they have accumulated.
Throughout the process of acquiring and retaining customers, banks often implement appropriate incentive programs and promotions. To reduce the pressure on operations staff and deliver information to customers as quickly as possible, banks should apply tools that automate messages according to predefined scripts and timeframes, such as AutoEmail, AutoSMS, and Auto Social Chat.
5. Connect with partners who prioritize customer-centricity
For 16 years, Bellsystem24 Vietnam has possessed in-depth knowledge and experience in consulting, implementing, and successfully operating dozens of projects in the Finance and Banking industry. We identify and deliver professional processes that closely align with business requirements, creating superior operational experiences for both internal employees and bank customers.
We are confident that we can help the Bank successfully implement a customer-centric model with the most optimal, convenient, and easiest resources. Contact us now!
