Is your institution prepared for the stress of a conversion?
Banking is evolving… quickly. Keeping up with the expectations of today’s consumers involves some hefty initiatives that, inevitably, will stress your staff – and your customers.
- Mobile conversions
- Online Banking conversions
- Rolling out new features and upgrades – Online Account Opening, Mobile Deposit, Bill Pay etc
- Mergers & Acquisitions
These projects involve heavy resources internally and create a lot of internal stress during the planning and implementation phase. And of course, they always take longer and cost more than expected.
But the high stress really begins when you switch your customers, or soon to be new customers during a merger, move over to a new mobile and online banking application. Overnight, everything changes. For your consumers and your employees. When these disruptions happen, concerned customers (and employees) need your help. Everything they knew has changed. They need answers from you and your team.
The trouble is: consumers all come calling at once. Depending upon the event your call center often gets slammed with 300% and as high as 1200% increases in call volumes, sometimes sustained for months (see real-life example above)
One of the most common fixes that good (honest) conversion consultants will advise you is to staff up accordingly. While an easy recommendation, it’s not going to be your CFO’s first choice.
Another typical “fix” is to bring in the cavalry of your “key staff” to help, delaying other strategic projects and employee needs in the process.
Either way, you’ll soon have furious and in some cases, soon-to-be-former customers + frustrated employees.
The alternative is providing your consumers with self-service support answers on the channels they are using most – mobile and online banking.
Learn how SilverCloud’s Consumer Self-Service can has helped dozens of banks and credit unions thrive during conversions.