What Is Customer Service in Banking?

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Customer service in banking is one of the most important ways to keep customers coming back. It includes responding to customers’ questions and complaints in a thorough and timely manner and interacting with customers through face-to-face meetings, telephone, mail, fax and email. Most if not all bank employees are involved in some aspect of customer service.

The Facts

  • Because of increased competition, banks are required to become more and more customer-focused, according to Washburn Financial Services. It is more costly to acquire new customers than it is to retain existing customers. Retaining customers requires customer service staff in banks to provide service that is quick, error-free and convenient.

Bank Tellers

  • Bank tellers are the first point of contact for many customers. Tellers who are friendly, quick and knowledgeable are a definite tool for customer service in banking. Many customers make a decision on whether or not to do their banking with a particular institution based on the personalities and expertise of bank tellers. On-the-job training is usually offered for bank tellers, including emphasis on customer service skills.

Call Centers

  • Many banks, particularly large banks, employ customer service representatives in call centers to be the initial point of contact for customer inquiries. Call center representatives may try to solve problems or they may be responsible for directing calls to specialists within the banking organization. Call center representatives should have good communication skills, good listening skills and problem-solving abilities.

Other Jobs in Banking

  • There are many other staff members who offer customer service in banking. Branch managers may be able to soothe an irate or dissatisfied customer. Customer service representatives are able to perform more complex transactions such as opening accounts. Loan officers offer customer service to customers, both consumer and commercial, who wish to borrow money

Considerations

  • Good customer service is the heart of banking. Today banks have a wide variety of competitors for business. For example, many department stores and grocery stores offer financial services such as cashing checks and selling money orders. Because of the amount of competition, unique products in the banking industry aren’t as important as outstanding customer service. Banks continually strive for improvements in this area. Examples of such techniques include taking customer surveys and monitoring calls that come in through the call center. Incentives, such as customer service awards, may be offered to encourage staff members to improve the customer support they offer.

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