Enhancing the customer experience: How financial institutions use Hyland’s Content Composer
The banking and financial services industry is right in the middle of a competitive landscape driven by the demands of customer personalization and smoother digital experiences.
As technology quickly evolves, so do the expectations of financial services customers.
While some customers are comfortable with a paper-based model, many more want to communicate via the channels with which they are most comfortable.
That could be email, web chat, text or social media. They want communication that is digital, personalized and consumed on-demand.
That’s why 72% of businesses say improving the customer experience is their top priority, according to Forrester. But how will organizations do it?
Elevate your customer communications
Customers receive separate communications from various functions, products and channels within the financial services organization — each with different messages, purposes and formats — rather than coordinated, consistent and personalized communications.
This lack of consistency and governance is only the beginning.
Most organizations don’t have the technology necessary to support the effective use of multiple e-delivery channels, such as web, mobile and social media.
Content assembly processes cling to labor-intensive legacy processes, and outdated systems make it difficult to reuse or share content with different business units and roles.
Content Composer by Hyland provides a complete customer communication management (CCM) solution. By creating and managing personalized communications and omni-channel delivery, Content Composer helps financial services organizations increase engagement with external parties.
Designed to integrate with enterprise applications and office productivity software, Content Composer features powerful creation, distribution and management tools to improve customer communication efficiency, productivity and consistency.
Content Composer is unique. Purpose-built for financial services organizations of any size, the product has helped banks, credit unions and wealth management firms optimize correspondence and connect with customers and members from start to finish for more than 20 years.
It provides a single platform to create rule-based correspondence and deliver communications in all three customer correspondence types: Batch, on-demand and interactive.
Connecting with customers from start to finish
Customer and member communications touch every aspect of the financial services organization, including customer onboarding, client self-servicing, statement generation and compliance.
Customer onboarding
This is every financial institution’s best chance to make a great first impression — and today’s digital savvy customers demand it. Get this right and improve customer satisfaction, lower churn, reduce costs and enhance compliance.
Content Composer helps with:
- Welcome packets
- Banking statements
- Terms and conditions
Customer self-servicing
More than ever, customers want to manage their own financial services products and online experience. Ensure personalized self-service options by making information available to customers when and how they want it.
Content Composer helps with:
- Loan applications
- Loan documents
- Annuity processing
- Online banking/financial management
Compliance
Maintaining regulatory compliance remains a top priority for financial service institutions of every size. The solution streamlines compliance by making it easier to insert language across multiple templates and documents while reducing manual data entry.
Content Composer helps with:
- Regulatory standards
- Disclosure documents
- Privacy notices
- Data security
Statement generation
Extend the customer experience by delivering meaningful financial statements. Whether digital or traditional, the banking statement is your monthly connection to the customer. Make it count.
Content Composer helps with:
- Consistent company branding
- Flexible use preferences
- Customizable templates
- Batch processing
- Multiple output formats
- Omni-channel distribution
Benefits of the Content Composer for financial institutions
Create timely, personalized customer communications
From customer onboarding through statement generation and compliance, there are very few places in a financial services organization where customer and member communications aren’t critical.
When a bank, credit union or wealth management firm generates customer communications across multiple departments and systems, it can be inconsistent and impersonal.
Content Composer improves customer engagement by providing timely, personalized communications designed for the customer’s preferred format and device.
Utilizing data from multiple sources, Content Composer is able to create the most accurate and up-to-date correspondence.
Customers want a personalized banking experience, from the moment they open an account or apply for a loan, and this expectation is only increasing over time. Soon, customer experience will overtake price and product as the key brand differentiator.
Single enterprise-ready solution
Companies with the strongest omni-channel customer engagement strategies retain an average of 89% of their customers, compared to 33% for companies with weak omni-channel strategies, according to studies by Aberdeen Group Inc.
Proven for high-volume and complex production output and distribution, Content Composer consolidates communication applications with a single enterprise- ready tool able to manage high output volumes, complex document formats and omni-channel delivery.
Direct integration with core business systems
A modern CCM solution should integrate into any existing and future business processes and access data from multiple sources, including retail banking, loan servicing, collections and operations.
Content Composer supports the creation of communications through direct integration with core line-of-business applications, which creates a familiar and intuitive experience for the users.
This eases the administrative burden by allowing the template authoring, editing and general creation of correspondence to get back into the hands of the business users, as opposed to bogging down valuable IT resources.
Business owners can author templates in Microsoft Word, an application most users are very comfortable with, allowing them to create and update their own templates.
Communicating effectively with customers will always be a critical component of an organization’s success.
Whether you are a bank, credit union or other financial institution it is critical that you take control of your customer interactions.
An effective customer communication management strategy can increase engagement, retain and grow your customer base and drive profitability.
Leverage the power of an industry leading software solution to help you manage and automate this complex challenge.