Ivr Solution Gives The Banking Industry A Healthy Boost

By Author: Harold Vance
Total Articles: 104

In the post-crisis banking environment these days, it has become more critical to maintain the strong relationships with their customers. On the other hand, pressure to increase the profitability and reduce costs is more critical. The effective capability of engaging and providing the services to the customers will efficiently acquire more customers and their lifetime loyalty.

The Interactive Voice Response Solution enables the banking industry to make use of the latest technology and standard advancements so that the industry can deliver better customer loyalty. The IVR Solution improves customer services by means of personalized service, ease of use, measurable competitive benefits and proactive outreach.

The Interactive Voice Response Solution is tailored with the banking standards support that allows smooth call routing to the desired personnel or department. It enables the improved customer experience while driving the measurable performance and cost savings. There are a plethora of applications where the IVR System can be utilized in its best way:

Auto Attendants:
IVR Solution can be used as a voice driven auto attendant to make your customers connect with your bank by simply speaking name of the person, department or branch. With IVR Software, your bank can greet your caller with a warm welcome message and route the call to the extension desired by that caller. On the other hand, the Auto Attendants can also be connected with a series of call management functions such as:
Voicemail
Directory Access
Attended Transfer
Blind Transfer, etc.

Informer of Your Bank:
The IVR Solution can be utilized by a bank by enabling the callers to access several elements of information such as different branches of your bank, ATMs, bank’s working hours, etc. If you will consider the finance aspect, you would be astonished to hear that to have a human agent can cost you many times more than an IVR Solution, to handle, understand and provide the information that a caller wants. You can enable your customers to use the IVR Solution to conveniently find their closest ATM of your bank. It would be possible for your mobile customers to instantly access their current locations which can easily fasten the customer interactions.

Personal Bank Account Management:
The IVR Software enables your bank customers to operate their accounts. For example, it helps customers check their account balance, know about their latest or recent transactions, etc. However, a certain security extent is required; IVR Solution can help the customers even in transferring the money, making a payment and requesting a statement.

Customer Surveys:
IVR technology can be used to collect the basic information or feedback from your bank customers. You can also ask them for answering some simple questions covered in your Customer Survey. They have to do nothing but to follow the pre-recorded questions and press the respective telephone buttons to submit their answers. In this way, you can ask your customers for suggestions and feedback about the bank, thereby establishing a transparent relationship.

Moreover, the IVR system differs from the Voicemail system in a way that Voicemail Solution is a one-way communication tool where the caller can leave a message, whereas IVR system is a two-way communication tool where the message can be passed from both the sides in a predefined way. However, IVR solution does not cost much, ACD (Automatic Call Distributor) is often placed as a primary point of contact, in case of expensive IVR Solution. The IVR Solution is usually placed at the front end of the bank’s call center so that at a primary stage only, it can be identified what the caller really wants from you. Also, an IVR Solution can be used to take out the numeric kind of information from the customers such as their account numbers. In case of providing them some basic answers, such as their account balance or something else, the information through voice prompt can be provided.

In a nutshell, the IVR System is used by the Banking Industry to keep the customers up-to-date about their account information and bank updates without wasting their time in talking to the bank personnel again and again. And by getting their answers quickly, the customers will also feel satisfied and be associated with your bank for a longer.

Harold Vance is working on promotional campaign of a Dynamic IVR Builder which is an easy to use GUI based software solution to create nested Interactive Voice Response System.