Stop the Chaser Calls that are Bleeding Your Business

Disjointed systems, lack of automation, and manual processes are all too common for small to mid-sized financial services organisations. Often, customers are left in the dark waiting for status updates. If chaser calls are jamming your contact centre, you cannot scale cost-effectively. Here’s how to prevent chaser calls.

Take a Leaf from a Digital Leader

Plenty of digital-first businesses make it impossible or nearly impossible to speak to a human. Their strategy for scale is to avoid costly, resource-intensive human-to-human interaction.

Small to mid-sized financial services organisations don’t want to be this kind of faceless “Don’t call me, read our FAQs” corporation. They built their business on the pillars of convenience, customer intimacy, and expert service.

But customer intimacy and locale are diminishingly relevant. What’s more convenient — heading into town for face-to-face service from your local branch or a few taps on your smartphone app?

Customers that prefer the former to the latter are literally a dying breed. Any business that wants to scale cost-effectively needs to embrace digital self-service. 

That doesn’t mean neglecting your in-branch experience and hiding your phone number. However, the benefits of channel shift should mean shorter queues at counters, fewer calls to your contact centre, lower operating costs, and the ability to assign customer service staff to more value-generating activities.

How Interact Stops Chaser Calls

Here are just a few of the ways that Interact will have your customers reaching for their browser or smartphone rather than clogging the phones of your contact centre:

Customer Onboarding
Account opening and onboarding
Digital Laggards — without Interact
Digital Leaders — with Interact
Digital Laggards lack integration and automation. They often use paper-based application forms and web forms that result in little more than an email to a shared inbox. Applicants wait while staff perform slow, repetitive, and error-prone tasks. Decisions can take days, and the execution cost is sky-high, especially considering the high abandonment rate. Integrate your web and mobile customer onboarding experience with back-office systems. Use third-party AI-powered web services for KYC and AML checks, credit risk checks, and more. Automate every step of the onboarding process—making the customer experience lightning quick and the straight-through execution cost minimal.
Customers are very prone to make chaser calls. And they may need to visit a branch to prove their identity. 100% digital. No need to call the contact centre or visit a branch.
Product Maturity Switches
When savings products or fixed-rate mortgage periods mature.
Digital Laggards — without Interact
Digital Leaders — with Interact
Laggards use a chaotic combination of core systems, data extracts, spreadsheets, marketing/email automation systems, web pages, online forms, and shared email inboxes. Such friction-filled chaos wastes human resources and is a compliance risk in waiting. Many customers switch to alternative lenders — especially when fixed-term mortgage periods mature. Leaders provide a frictionless experience integrated across email and self-service channels. They provide all the information needed to compare mortgage account offers side-by-side. Personalised illustrations and the acceptance process are automated, secure, and compliant. Switching is easier for customers, retention rates are higher, and operating costs are much lower.
Customers are likely to call or go elsewhere due to an awful experience. Customer service staff cannot prioritise whom to call. Most customers switch products digitally. Fewer inbound calls. Customer service staff can see who’s interested and prioritise productive calls.
Self Service Banking
Current accounts, Savings accounts, Cards and Mortgages switching
Digital Laggards — without Interact
Digital Leaders — with Interact
Digital laggards lack integrated self-service options. Internet banking and mobile banking user experiences are disjointed, uncompetitive, slow to change, and expensive to maintain. They might need to manage multiple log-ins. Back-office integration is lacking, leading to delays and manual work for the operations team. Digital leaders provide everything you’d expect from the best online and mobile banking experience. Unified, secure access to all accounts, cards, savings, and mortgages. Back-office integration ensures frictionless service. And it’s quick and cost-effective to update whenever new products or marketing changes require.
When your digital experience is poor, channel shift goes the wrong way — more phone calls and counter visits. A brilliant digital self-service experience delivers a channel-shift advantage — helping your business scale cost-effectively.
Self Service Collections
Allow your customers to resolve overdue payments anytime, anywhere.
Digital Laggards — without Interact
Digital Leaders — with Interact
Digital laggards struggle with collections. Attempts to help customers in arrears lack automation and self-service capabilities. Manual processing is both inefficient and adds compliance risk. Cases are slow to resolve, and less debt is collected. Digital leaders provide self-service guidance to customers in debt. Automation makes it cost-effective and easy to comply with regulations. Agents have more time to resolve complex cases and help vulnerable customers. Cases are faster to resolve, and more debt is collected.
Laggards cannot afford to help distressed clients. Given the current cost of living crisis, profits will suffer. Leaders use digital self-service and automation to help distressed customers and collect more debt cost-effectively.

Savings, Online Apply and Servicing Portal for Cambridge & Counties Bank’s Business Customers 

In this short case study, learn how ieDigital helped Cambridge & Counties Bank launch online savings self-service for SMEs using the Interact application suite. Benefits include 100 percent digital onboarding, financial crime protection, frictionless self-service options, and increased capacity for the operations team.

Read the Case Study

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