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Why IVRs Are Highly Useful When It Comes to the Banking Sector

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The financial industry is known to move slowly when it comes to adopting new technologies. In the last several months, financial organizations have attempted to show adaptability and flexibility in these times by operating to protect their customers and ensuring banking services remain consistent and fully available to their customers.

One piece of technology that often gets overlooked in terms of providing a better customer experience, is an IVR solution. Leveraging an IVR solution not only reduces cost, but it also creates a seamless experience and integrates with databases, CRMs, and other systems. An IVR solution can be used to automate many processes.

Here are 5 ways implementing an IVR solution can impact the financial industry. 

1. Yields Efficient Call Routing

The built-in features of a leading IVR solution can gather the information from the caller and efficiently route the call to self-service steps or to the contact center agent already designated to handle the specific problem or question. 

2. Provides Automated Self-Service Options

Customers avoid waiting on hold for the next live agent. Rather, many callers can have their problem or question taken care of after a brief automated visit, for example, to check  account balances or activate a new credit card.

3. Customize Menu Options

Thoughtfully designed menu trees keep customers out of the dreaded mazes and dead-ends of sub-menus. A robust IVR solution allows for customized menus specific to both the business and customer needs. 

4. Offers Conversational Speech

Conversational AI within an IVR solution can recognize complex language where the caller can say specifically what type of service or problem prompted the call for a fast track to the solution or prompts for additional information.

5. Personalized Caller Information

A leading IVR solution provides the same quality service as a well-trained contact center agent. The perception of quality is all about personalized service. IVR systems can tap into customer databases to ensure the quality of customer experience for each incoming call. 

Learn more about how Plum Voice approaches the financial industry with a comprehensive IVR solution.