AI is Key to Elevating CX Quality for Support Channels for Fintechs

Written by Can Ozdoruk on Apr 6, 2023

Even Fintech companies are not immune to financial crises. In the last few weeks, we’ve seen banking systems collapse with yet another rise in interest rates by the Fed. Global financial regulators agree that the banking system is secure, healthy and flowing with cash. However, while that may be so, all that borrowing and decrease in consumer confidence shows just how much strain is on the financial system – and fintech customer experiences.

As the world settles into this new reality, customers are demanding more than ever. Providing consistent, high-quality customer service is now on equal footing with product or service quality. How are fintech companies performing when it comes to customer service? And what opportunities are they missing to meet their customers’ expectations?

In the latest edition of the Netomi Customer Service Benchmark Report, we set out to find answers. Our research focused on 11 fintech companies of different sizes; publicly-listed enterprises, private enterprises, and private mid-market companies. The goal was to get a deeper understanding of how companies like Visa or Mastercard’s customer service holds up against smaller ones like Sigue or Borrowell. We observed performance across the three most popular support channels – phone, email, and web chat.

The findings show that by incorporating AI into customer support channels, the overall quality of support increases and customers are more likely to have their issues resolved.