The Race to Find a Faster Solution: Knowledge Management for Financial Service Providers

As little as a decade ago, good customer service meant being able to offer products and services people cared about. It was about meeting demand, presenting a friendly face, and filling needs.

The digital revolution has changed all that, and it’s left financial organizations searching for better, faster solutions to take care of their clients.

The Shift in Customer Experience

Today, customers have more options at their disposal. The internet and mobile devices have made it possible for someone in Florida to use the financial services of an organization in California as though they were in the same community. A local brick and mortar financial institution isn’t necessary to take out a loan, open a checking account, or plan a financial future.

Because of this, customer service has lost its competitive edge for many because good service is automatically expected. Customers demand products on their terms, around their schedule, and will take their business to whomever can align with their expectations. In short, customer experience has become an arms race of sorts, and the right knowledge management could be your best defense against attrition.

Why Knowledge Management Matters More Now

With customer expectations at an all-time high, financial services companies can better meet them by delivering faster, more accurate results. KM tools, such as Panviva’s ready-to-install cloud-based software, can help you create processes to promote consistency in how you operate.

Your team can spend less time searching for answers because everything they need to know can be found in a few simple clicks. From interest rates and savings account information, to client profiles and current promotions, your team won’t miss a beat when you systematize your data and make it usable for the people who need it most.

As a result, it creates a domino effect of reduced waiting time, quicker resolution, upsell opportunities, and a higher level of service clients not only expect, but also appreciate.

Like it or not, your clients are in control. It’s up to you to find the best ways to service their needs — before someone else does.  Take a free test drive of Panviva’s Knowledge Management solutions and discover how you can empower your team to exceed expectations in every client interaction.