Consumers in the UAE increasingly want to be able to resolve their basic banking issues without having to speak to a bank adviser by phone, according to a new survey from Avaya.
The findings reveal that customers’ most preferred channel for accessing banking services is via a mobile app, contacting bank advisers only for more consultative engagements like applying for loans or addressing fraudulent activity.
The Customer Experience in Banking Survey, conducted with YouGov, queried more than 5,000 banking customers in four countries – the UAE, UK, Australia and India.
The latter is the only country with a stronger preference for mobile banking than the UAE, preferred by 26 percent of respondents compared to the UAE’s 24 percent.
Consumers in the UAE had a stronger preference for mobile apps.
“For banks in the UAE today, delivering a superior customer experience requires coordination across all customer touchpoints – whether online or offline,” Yaser Alzubaidi, Avaya’s engagement solutions sales leader for Asia Pacific, Middle East & Africa, said. “It really comes down to personal autonomy and being able to choose the way you interact with your bank depending on the situation at hand. We do see that mobile platforms are increasingly popular channels through which to engage banks as technologies like voice and video move digital. Yet while we may reach customer support through a mobile app, I think customers will always want to be able to speak to a live person.”
Getting the customer experience right is vital to UAE banks, as 41 percent of respondents said that they would change their bank as a result of bad customer service – the highest of the four countries surveyed.
Around the same percentage (38 percent) would also share their bad experience with their friends and acquaintances, with nearly half indicating that they would lodge a formal complaint with their bank.
Regardless of how they choose to contact their bank, the majority of UAE customers want the same level of experience and service across all channels.
Following that, other top asks from UAE banking customers include the ability to switch between contact center channels without having to repeat themselves, that any person who answers their phone call is fully competent to handle their request, and that bank advisors know not only who they are, but what their outstanding problems are.
A fifth of those in the UAE would still prefer to visit their bank’s branch and speak with a relationship officer for services. Moreover, the UAE still has the highest percentage of banking customers who would prefer to chat with a relationship officer over the phone, with 14 percent choosing this channel compared to just 11 percent in India and 7 percent in both Australia and the UK.
Virtual Financial Advisors (VFAs) – representatives from the bank who engage customers through virtual means and service them remotely with online tools – seem to be an ideal solution based on the preferences of UAE respondents. According to the survey, the most valued benefit of having a VFA is being able to get faster resolutions of their banking inquiries regardless of the contact center channel they use.
Furthermore, customers in the UAE by and large prefer not to be contacted by their bank for basic services. Problematic or potentially fraudulent transactions are the number one reason why UAE customers would want their banks to contact them. Only 40% of UAE customers would want to be notified if their credit card or banking service is up for renewal, with the same number interested in personal offers and only a third wanting to know about new launches or services.
