Putting on the pressure

“It was a key criteria that the partner selected could not only support and maintain our existing contact centre systems and applications, but also strategically guide us on technology adoption to improve our internal processes. This is the extra mile that we found in Sabio and its team of consultants which we believe will help us to drive our business forward and achieve long-term business goals." Network Manager, Scottish Widows

The financial services industry has been under enormous pressure recently, caught between customers with ever-higher expectations and continued unrelenting competition forcing lower margins. Companies in this sector have, in the main, turned to technology to increase their efficiency and lower costs whilst improving the customer experience through more personalised interaction.

Looking to the future the industry is facing more of the same challenges over cost and customer expectation, but now coupled with the high cost of complying with new regulations. In response to a number of well publicised scandals the government is significantly increasing the burden on financial services companies through the imposition of comprehensive and tough governance. More than ever, new technology is needed to reduce the cost of compliance.

Most companies are beginning to think about Customer Interaction Management and how they might improve and differentiate their customer’s experience. Other companies are identifying callers in order to differentiate service based on the profitability of that customer. In addition, customers are becoming more used to self-service, web collaboration and email as methods of communication. It is therefore vital to offer an appropriate and consistent service across these channels.

The bottom line

At Sabio, we have already helped a number of financial services companies differentiate themselves, improve customer service and increase profitability using technology as the enabler. Through our experience and knowledge, we have a clear understanding of the issues facing the financial services industry and can create a solution that will deliver results.