Skip to main content

Guide/Report/White paper

Financial Services Contact Centre Report

The second edition of ContactBabel’s UK Financial Services Contact Centre report is now available to download. It explores the structure, growth, technology, HR and commercial issues found in contact centres within the UK financial services sector.

The report contains data from multiple large-scale surveys of hundreds of contact and call centres carried out since 2010. It covers banks, credit card companies, building societies, collection agencies and credit reference agencies.

There has been considerable cost-cutting and consolidation across branches and back offices. However, technological investment is increasing in across Financial Services contact centres, driven in part by the move to digital self-service. This is because of increasing customer familiarity with self-service and digital channels, especially for web chat.

However, due to the complex nature of financial enquiries, many customers continue to prefer calling for additional reassurance and compliance.

In addition, the continued rise in self-service, mobile banking, loan and credit card comparison sites and online banking means that a typical call dealt with by the finance sector is becoming more complicated and requires greater skills from the agent.

Significantly, personalised communication remains important within this sector, especially for cross selling and upselling on inbound services calls. While this usually results in longer call lengths, it continues to generate significant revenue for finance organisations.

Similarly, there is increased interest in video agents too, especially for high net-worth customers. As a result of the pandemic, many customers are more familiar with video calling, making this channel a reality for some businesses.

We invite you to download the full report of this definitive financial services market’s customer contact operations study.