Transform Your Overdraft Experience
Common Challenges
Financial institutions are seeing a rise in customer dissatisfaction and attrition due to poor overdraft experiences. Customers today prioritize speed over price and rely on your brand for communication when it matters most, like alerts related to overdraft.
Traditional methods are often:
Slow: Many customers aren’t aware of potential overdrafts until after the fact, causing feelings of helplessness and frustration that lead to lost loyalty.
Unhelpful: The current system can make customers felt like they lack control over their finances, especially in hard times. Multiple shocking overdraft fees in a short period can create financial strain, which means decreased customer spending and lost revenue.
Generic: Customers have limited options for managing overdraft challenges and resolving fees, often resulting in a call to an agent who is not empowered with contextual information about the customer.
Proven Results
How CSG Xponent Can Fix This
Xponent connects easily with your existing systems to provide a personalized and proactive overdraft experience, all while keeping security a top priority:
Proactive and Personalized Communication:
CSG Xponent triggers instant two-way communication upon overdraft, prioritizing the fastest response channel (voice, SMS, email) based on individual preferences. This enables compliant, real-time digital connections, giving customers a chance to avoid fees.
Empowered Agents: Agents receive access to a real-time customer profile. They can offer relevant solutions like overdraft protection, or exceptional service, such as waiving fees.
Contextually Prioritized Engagements:
Xponent considers a customer’s complete data and background to draft more relevant and helpful outbound communications, such as financial planning suggestions or a targeted marketing campaign for impactful engagement.
Financial service institutions using Xponent have achieved significant improvements:
Increased Revenue: Improved transaction approvals help avoid overdraft, leading to higher customer spending— including on additional products or services.
Improved Retention: Customers are more loyal when overdraft concerns are promptly addressed, resulting in higher brand trust and fewer closed accounts.
A Better Agent Experience: Agents that can resolve issues effectively on the first call improve team efficiency. When well-equipped, agents achieve higher job satisfaction and provide positive customer interactions.
Xponent puts the customer at the center of your overdraft experience, creating a win-win for both you and your customers.
Let‘s discuss how Xponent can help you build long-term customer loyalty.