Improve the Customer Experience with Lighthouse for Finance

When a client calls his financial provider with an inquiry, he isn’t just calling to chat; his livelihood is hanging on the line. If a finance agent has the slightest hesitation, pause, confusion, or lack of information to relay to the client, the client will begin to panic. For this reason and many others, it is crucial for finance agents to have quick and easy access to all of the information they might need to assist their clients – from the very first ring until the phone is hung up.

Financial institutions

Enjoy the following benefits while using Lighthouse Knowledge Management

  • Human errors are reduced with access to the right information at all times
  • Fewer calls and less communication time are required with accurate knowledge accessible within a few seconds​
  • Unified answers to complex processes can be provided, including step-by-step guidelines
  • Easy and quick distribution of information about regulatory guidelines and information on specific changes in financial regulations using a single platform
  • Easy and quick implementation
  • Almost no training is needed
  • A business solution that requires no computer coding

But here’s the problem:

Today, more than ever, financial institutions are in constant competition for the heart of the consumer. Any customer can easily switch between banks and insurance companies. In order to excel in customer retention, these companies are required to provide personalized service, tailored to the needs of their customers.

Today, many financial client care centers are suffering

Financial providers are expected to provide the ultimate client experience, delivering fast and accurate information, however existing search result processes are often slow, cumbersome, and often produce too many irrelevant results. Updated the CSRs with new information can take a very long time and prove to be quite complex.

These service centers are constantly struggling with the integration between their various systems which are unable to streamline the entire service process. Additionally, creating and maintaining documentation of knowledge items can be extremely complicated.

But it doesn’t have to be that way.

Your institution can easily turn these challenges around by implementing Lighthouse.

Customers are looking for service that allows them easy, quick and simple access to their account from a variety of channels (by a call, at a branch or online) in a unified manner and in the highest level. With Lighthouse, banks cut costs, improve customer service, keep up-to-date in a changing environment and manage all of their “hard” and “soft” knowledge together.

How is it done?

The Lighthouse platform helps to improve financial client care by streamlining data management, minimizing human error, and easing the client-provider interaction.

Let’s get into the details

1. Streamlining data management:
How data is stored is important, but so is how it is retrieved. Lighthouse offers a way to increase the speed and accuracy with which financial providers deliver information to their clients. GetAnswer, a patented Lighthouse technology platform retrieves any information from the knowledge base in mere seconds, negating the need to search through long documents for a single answer.

2. Minimizing Human Error:
In finance, minimizing human error is crucial. That’s why Lighthouse implemented triggers for acknowledgements into its platform, requiring employees to sign off when they review specific new information added into the knowledge base. This is even more important when it’s a process or regulation. Guided scenarios take staff through a checklist of processes for any given interaction. Step-by-step instructions at their fingertips greatly reduces human error.

3. Client-Agent Interactions:
Lighthouse can make agent-to-client interactions quicker, more accurate, and more convenient. Financial providers can be sure that any information they pass to their client is up-to-date. On the other hand, clients will appreciate the speed with which their answers are provided. Furthermore, clients feel secure that the correct information is being shared by an informed employee.

Some of the results

That most financial institutions obtain when utilizing Lighthouse Knowledge Management System:

  • A business solution that requires no computer coding
  • Faster and more accurate information retrieval processes
  • Improved “First Call Resolutions”​
  • Reduced total call duration and average holding times​
  • Reduced training curve for new agents on procedures, regulations, rates, products, etc.​
  • Reduced interactions in which inaccurate information had been provided to consumers​
Company-Wide Knowledge Management System

Who exactly is Lighthouse?

KMS Lighthouse’s next-generation knowledge management solution enhances every engagement by empowering providers and end-users with real-time access to accurate and consistent knowledge to improve provider and end-user experience alike. The powerful search functionality dramatically improves engagements across all service and sales channels.