Question

Explain how the service quality delivery in financial products is improved by technology

Answer 1

 

 


 

 

How to Use Technology to Improve Customer Service

More companies are using technology to handle customer service in an efficient and cost-effective way. Here's how you can use data management and analytics and insight-driven marketing to improve your customer care systems.



 


 

 

There's no denying the fact that customer service is important to a small or mid-sized business. The quality of that service will either enhance or degrade customer loyalty to your brand and your business. With the economy in recession, customers have more alternatives than ever. The business that proves to be responsive to customer questions, complaints, or other needs can gain a clear competitive advantage. That's why it's so important to understand how new technologies can help you anticipate customer needs, tailor business processes to best serve customers, and ultimately improve the efficiency of your business – the latter of which can keep costs down.

Customer Service Technology

There are a few major areas in which technology now is able to help provide key advantages to businesses in engendering customer loyalty by improving customer service:

Websites. Providing areas on your website where customers can answer their own questions or seek answers from others.E-mail. Using e-mail as a way to improve customer service and more quickly respond to certain needs or help requests.Communications. Unifying communications so that you know that the customer who left a voice mail also sent an e-mail with the same request a few days ago.Software. Better managing customer relationships with more sophisticated data-gathering tools, such as customer relationship management software.

Answer 2

Technology helps with improving on the service quality of financial products by automated methods which enable faster and effective forms of online transactions.

Explanation:

• Technology has brought in vast improvements in the service quality for the customers and it has greatly helped in faster methods of financial transactions and interactions with the customers.  The customers do not have to visit the banks or be physically present for transacting with the companies.  
• Technology has helped with automation of the systems and procedures and it has helped in bringing down the costs. involved with the services. It has helped the companies in analyzing the data of the customers for being able to support them better.
• The service quality of financial products have become easy with the new technologies and the ability to  interact with the customers online. They are able to sell more products across large areas and countries which have improved with methods of communication through the latest technologies

To know more about service improvement due to technology

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