May 11

Is Customer Service Valued in the Banking World?

Posted by Rachel Brink on May 11, 2015 9:44:00 AM

Confronted with unsteady economic conditions, advancements in technology, and increased regulations, the banking industry has undergone a large transformation over the past few years, as have its customers’ needs and preferences. What was once a process requiring customers to visit their local bank and speak with bank tellers to address their various needs (deposit checks, take out money, set up accounts, transfer money, get advice, etc.), banking can now be done virtually without any human interaction thanks to the various online banking and virtual wallet apps that have been made available to consumers. And with the ability to self-service their own needs via computers, tablets, and mobile phones, do customers still value/take into consideration a financial institution’s customer service when deciding whether or not to bank with them?

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Topics: customer service, customer experience, banking industry, financial services industry