Importance of Customer Servicing

Topics: Customer service, Bank, Customer relationship management Pages: 3 (776 words) Published: December 18, 2012
The Importance of Customer Service in Banking
A large amount of bank customer service takes place by telephone. Excellent customer service can improve the bank's ability to lure affluent prospects, elevate the bank's profitability, lower bank operation costs, and/or create greater customer loyalty. When a bank invests in training its customer service staff, impressive results may follow. Customer service management software, sometimes referred to as CSM software, helps banks accomplish these goals. Customer Service Via New Technology: Customer service is obviously important to Citibank. According to Bank Technology News, "Citigroup's 'smart banking' branch design and strategy integrates the ultimate in self-service branches with plans for seamless connections to anytime mobile, ATM and Internet services." The state-of-the-art facility, which opened in Tokyo, Japan in 2010, includes self-serve customer workbenches, tabletop electronic kiosks for browsing products, ATM stations with video links to a teller or call center specialist, small conference rooms for in-person or video-linked banker conferences and a touchscreen media wall. North American banks have begun following Citibank's lead. Customer relationship management software handles the routine customer service so staff members are free to sell more effectively to the savvy, affluent market targeted by today's retail banks. Convenient Days and Hours of Operation: Chuck Salter, author of "Customer Service: Commerce Bank," says Commerce Bank is "America's most convenient bank, with a fanatical commitment to 'wowing' its customers." Commerce opens its branch offices seven days a week. Weekdays it opens at 7:30 a.m. and closes at 8 p.m. with shorter weekend hours. The bank always opens 10 minutes early and stays 10 minutes late. Commerce's astonishing service record has made them one of America's best-performing banks, with their stock increasing 2,000 percent in 10 years. Commerce Bank's positive results...
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