Designing Customer Support for Neobanks/ Fintech
How much time we would have spent on IVRs on telecoms and banks getting a resolution on our queries. It is important for neobanks and fintech to redesign customer support.
1. Make support available 24*7
Working professionals find it frustrating that customer support is available for a specified time duration on weekdays. With neobanks completely digital, it is imperative for neobanks to provide support 24*7.
2. No menus, IVRs or protocols
It is frustrating when customers have to go through extensive menus, IVRs or protocols. The menus and IVRs is either asking to input their debit card or account numbers or going from one menu to another menu.
Enable customers to raise ticket through email for non-urgent tasks and have defined SLAs for the tickets.
3. Provide live chat along with email
Neobanks should support live chats at the minimum as the generation today it is much more intuitive and personal way to chat.
4. Update knowledge base and customer education
Reduce ticket volume by building a knowledge base. This would enable customers to find answers on their own and not reach out to customer support. The effect of incorporating knowledge base on reducing ticket volume should be measured.
For frequently asked queries, neobanks and fintechs should educate customers on the use-cases through emails or videos.
5. Minimize reply time
It is important to templatize the first response time to be able to reply to the customer at the earliest.
Neobanks can do this by including some common questions or a link to the knowledge base in the first response the customer even if they are not able to resolve the problem immediately.
When there’s a known issue, update this reply with details on the issue to get ahead of customer inquiries.
6. Provide digital self-service
If the debit card or credit card expires or new credit card is issued there should be the option for customers to input of updated address before the card is shipped. Customers should be able to change address, mobile number, order a credit card with ease on the app and net-banking
Banks should make a repository of use-cases which come to customer support and include in their product roadmap.
7. Measure metrics
It is important to measure metrics through a dashboard and then take action from the data to improve customer support.
Ticket volume, Ticket backlog, Average resolution time, Average reply time, Average first response time, Customer satisfaction score, Average handle time, First contact resolution rate, Net Promoter Score, Replies per resolution,
8. Implement queues
Nubank has implemented a queue management system which identifies the specific domain against each query and thereafter assigns a trained agent against each query.
When the agent is assigned a task/ query their skills pop up on the screen with all the relevant information about the customer. When the agents finish, they click on “Finish” and the next job pops up on their screen.
It is also important to track ticket volume as per days of the week and time of the day to plan customer support staff.
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