In response to the COVID-19 pandemic and its economic repercussions, the banking and financial services industry has been hit with an enormous influx of customer calls and requests. Banners span the tops of websites, notifying potential callers of extra-long wait times, and encouraging anyone that can use a self-service option to log in instead.

It’s not just volume—a study cited in Harvard Business Review found that the percentage of customer calls that were ranked ‘difficult’ to resolve more than doubled for most companies—in the first two weeks of the coronavirus pandemic alone. Some average hold times rose 2000% as CSRs also found themselves working from home for the first time, without the infrastructure and support they usually enjoyed at a contact center.

BFS have been using automation successfully for a long time to improve customer service—attended and unattended. RPA has applications in delaying payments, restructuring loans, approving applications, tightening security, adjusting compliance regulations, and supporting day-to-day operations affecting hold time, resolution time, customer onboarding, and real-time CSR support. Join us for a discussion around the applications of automation in customer experience that enable teams to better react to and overcome challenges—present and future.