Mobile applications have made the processes of mundane tasks faster. Technology & Innovation are driving the digital transactions- bank payments gateways to seamless website connectivity.
Similarly, the Fintech Industry has revolutionized the way people access various financial services across the globe.
What is Fintech?
Fintech or “Financial technology” refers to a business that uses technology to automate financial processes. Fintech for small businesses enhances investment applications, mobile banking, and insurance capabilities.
Thanks to fintech businesses, banking functionalities have been automated in the field of investment and loans. It has enabled customers to be less reliant on financial institutions and services for managing their finances.
But as the fintech industry is escalating to a billion dollars, dealing with the customer requests and handling the customer services operations have become difficult. According to the Fintech Report by Capgemini, FinTech firms have increased by over USD 109.8 billion.
IVR solutions automate the call management solutions that personalize the interaction with customers. For instance, if the customer contacts to register a complaint, the customer will be contacted with a pre-recorded message and provided a range of options. They will be asked to press 1 for the product information and to press 2 to interact with an agent. After the customer makes a choice, the IVR deviates the call to their experts.
IVR manages 24×7 customer support via recorded messages and provides instant solutions for queries. An IVR number can help improve customer service and fintech services. Why does this Fintech Industry need Strong Call Center Software?
Knowledge about Loans:
Bank loans are a key financial responsibility so customers need advanced research. To get the advanced information, sometimes customers contact these call centers.
The most common inquiries are about loan specifics like interest rates. So, callers must be redirected to the right expert to ensure they get comprehensive knowledge. The IVR system redirects the call with the customer’s input to the right representative.
IVR solutions for small businesses also enable callers to talk to experts as per the options selected from the offered menu of IVR.
Verify account credentials and balances:
For any basic task, such as checking one’s account balance, changing one’s debit or credit card pin, or changing their address, having to go to the bank can be inconvenient.
Thanks to IVR, users can follow just a few steps. After that, the customer’s credential gets validated. They can also update or access their account data with IVR.
For instance, IVR providers in India provide voice SMS, read and write the IVR data and transfer the call.
Addressing the Customer’s Complaints:
Customers often complain to call centers about their unsatisfactory services. Because of these complaints, the fintech businesses get informed of their loopholes and strive to improve these problems. IVR providers smoothen their process of complaints by both parties.
For instance, A customer can register a complaint with their contact center if they do not receive a notification when they are paid via mobile wallet.
With IVR contact center services, consumers get secured with all the financial services.
Sending Notifications to Customers:
IVR solutions do not just receive complaints from their customers, but IVR Solutions also send out reminders. Financial technology companies can extend out to their customers in terms of financial delays.
Customers that have missed their installments date can be reminded via call. Or, record the installment statement and schedule them to be sent to a customer near the installment due date.
- Easier Payments Process:
In the past, making payments was a mediocre process like standing in a line and waiting for hours. However, in today’s era, payments have been made easy and automatic through IVR. Customers can call their bank directly, choose the option from the IVR menu, and provide the requisite information.
Debit/credit card issues:
Unfortunately, some accidents take place where customers lose their debit/credit card or misplace it. Therefore, to combat these issues, the cards should be blocked immediately. You can utilize an IVR menu to ask for the blocking of the card straight away.
IVR services make the process simple, quick, and efficient.
Fintech technology has innovated a new path for managing financial services. Moreover, IVR solutions have escalated the Fintech industry with more advanced services.