RingCentral Engage took part in the The Asian Banking Forum (ABF) in Singapore on June 20 and 21. This 4th Annual edition gave the floor to executives experts of retail banking to talk about the challenges faced by Asian banks to offer an Omni-Digital customer experience.
Gaya Guirous, Asia Chief Representative of RingCentral Engage, explained how banks can meet their customers’ expectations thanks to Omni-Digital.
He put emphasis on 3 common problems creating frustrating customer experiences and causing problems in customer care departments:
- No possibility to use the channel of his choice, not to pay for and without adapting to its operating hours
- 64% of consumers said they expect companies to respond to and interact with them in real time. However, it is common to receive answers from companies after one week
- 89% of customers feel frustrated by having to repeat their issue to multiple representatives because of lack of communication between departments
Then, he gave an overview of the latest digital market trends in Asia, with a particular focus on ASEAN:
- The 652 million inhabitants of the region include 370 million active internet users with 38% bank account penetration
- In the banking industry, 46% of consumers now interact via digital form only (vs 27% in 2012)
- 80% of adults and 90% of teenagers use messaging apps every day
- There are 4x more smartphones than credit cards in the region
- Customers have new expectations. They want to feel important, to be listened to, to feel at ease…
- Digital banks such as True Money and Big Pay have raised the bar in terms of customer expectations. Some of these expectations include simplicity and reactivity, easy subscription directly from smartphone and being able to do all operations from mobile apps
Banking behaviors of asian customers switch to digital. Thenceforth, banks have to adapt their customer care.
Gaya Guirous explained also how RingCentral Engage helps companies deploying the right digital channels throughout multiple countries and languages.
He gave a concrete example of the First Telecom bank in the World launched by Orange Bank that offers a fully digital customer experience and payment thanks to RingCentral Engage. He also explained how RingCentral Engege enables iflix, second largest video streaming platform in the world, to meet customers’ expectations. Thanks to RingCentral Engage, iflix has:
- 33% shorter response time
- +20% productivity
- 75% “very satisfied customers” rate
Here are some of the key takeaways giving you a better understanding of the new banking models and insights to develop the right strategy to match customers’ expectations:
RingCentral Engage helps companies to deal with these challenges by enabling them to manage all their digital customer care channels (messaging, social media, live-chat, mobile, email) within a single platform.
The RingCentral Engage team already has major clients in Asia, including companies like Iflix, Ooredoo and Banglalink and is strengthening its presence in the region with its new office in Singapore.
Originally published Jun 28, 2018, updated Sep 23, 2021