Financial Services Industry

Financial service firms are constantly striving to improve intricate business process such as attracting and retaining customers, sustain and improve internal operations, and enhance organization’s ability. Some of the key dimensions in financial service industry include reliability, responsiveness, and empathy. Reliability at financial industry means ability to perform promised service dependably and accurately. This is probably the most important quality the customers look for when they want to start a relationship with a financial company. Provide service at the time promised to do so with error free records is what all companies strive for. Responsiveness is the willingness to help customers and provide prompt service to customers. Everyone is busy with the day-to-day work, but what the customers want is the willingness we show. Empathy is not as important as the other dimensions to define quality of service, however, this is table leg for the service. Give customers individualized attention and understand the specific needs makes a big difference in client satisfaction.

It is widely believed that clients compare pre consumption expectations of the service with their post consumption perceptions of performance, and the clients’ perception towards service quality is driven by the gap between expectations and performance. In my department, we have monthly/quarterly meetings with the client to discuss what their needs are and if there is anything we can change to add more value. On top of that, we try to answer any client inquiries in a timely manner, as we are never too busy to respond to clients.           

At my organization, we have multiple ways to train employees to demonstrate client service excellence. One of the most recent trainings I participated was client service excellence workshop, where I learned about proactive services, which is an approach to customer support in which business make the first move to help customers. Theoretically, proactive service takes clients’ experience to the next lever, because we anticipate our clients’ needs. Proactive service is not mind reading, it is as simple as recognize opportunities and respond with best practices.