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Life Events at Banks and Credit Unions (Part 1)

Life Events at Banks and Credit Unions (Part 1)

Life is challenging. To break beyond the status quo of today’s banking almost always involves some hefty initiatives that, inevitably, will stress your staff – and your customers.

Here are a few of those Life Events (i.e. high stress moments):

  • Acquisitions
  • Core conversions
  • Home banking conversions
  • New product sales
  • Endless launching of new technologies
  • The government coming in to help

Life Events come in many forms. And of course, they always take longer and cost more than expected.

But the high stress really stems from the unplanned disruptions to your organization. When these disruptions happen, concerned customers need your help. They want to know what’s going on. They really 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 100% and as high as 1200% increases in call volumes, sometimes sustained for months (see real-life example above)

So, let’s track the problem a little further.

When your frustrated consumer gets through, will your service reps quickly and accurately respond? Chances are, even your best reps are overwhelmed with new products, new information and new procedures. Furthermore, your Call Center or Branch Manager is overwhelmed with training new bank employees.

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.

So, what have we got? Furious soon-to-be-former customers + frustrated employees = high stress moments. Life.

Are any of the life events mentioned above in your future? Come see how your life can be different. Discover Digital Enablement.