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Call center

5 Reasons To Look For Financial Call Center Services

Banking and finance customers always look for fast, secure, and convenient financial platforms to take care of their savings and make an investment in productive activities. After the 2018 recession, financial institutions were more focused on securing their businesses. The rise in demand for impeccable customer experiences and the need for customer awareness has compelled them to come up with more customer-centric approaches.

The BFSI industry is constantly opting for financial call center services to streamline customer support operations. The Allied Market Research report shows that the BFSI BPO market was valued at $85.12 billion in 2020 and is estimated to hit $174.94 billion by 2028, with a CAGR of 9.7%. The statistical data thus underlines the fact that there will be exponential growth in the BFSI BPO sector in the near future.

Now, let us shed some light on why the banking institutions are desperately looking for reliable BPO partners. This will highlight the services for which the industry is relying more on these third-party call center agencies.

5 Reasons to look for banking and financial call center services

  • 24/7 customer service:

    Customer service is a vast thing in the BFSI industry. It is not just about dealing with customers facing issues with transactions. There are many other reasons for which the customers reach out to a bank or a financial institution. This includes checking bank balance, opting for a loan, looking for productive investment plans, financial planning, internet banking problems, ATM-related issues, opening and closing accounts, and many Mersinde Escort Bayan more.

    The BFSI industry takes leverage of the financial call center services to handle all the customers tactfully. While the well-equipped call center agents address the customers’ problems, the banking institutions stay more focused on monitoring the assets and other core activities.

  • Managing complaints:

    Complaints are inevitable in a banking and financial institute. No matter how good your services are, some customers are always there to lodge complaints. BFSI call center agents follow each complaint and deliver accurate responses in no time.

    Complaints can be regarding server failure, transaction issues, product-specific complaints, credit card bill issues, hidden charges, and so on. The moment the customers raise a complaint, the call center follows each complaint across all the channels and notify the organization immediately. This gives you a greater scope for improvement.

  • Monitoring and managing compliances:

    When talking about banking and finance, compliances play a bigger role. Although managing compliance in banks is quite challenging, a call center’s compliance management team can perform the job with perfection. It monitors whether the banking processes are complying with the industry rules and regulations. Be it is during processing information, tax evasion, or laundering money, the team manages and mitigates the risks associated with it.

    The call center assures 100% data security, thus protecting the bank from administrative and financial losses. While opting for the ensure they are efficient at administering compliances.

  • Collecting feedback:

    Customer feedback matters a lot to a bank or insurance company. This is why many banking websites have a separate page to submit feedback and share opinion. These pages are created so that they get a clear insight into the customer behavior, their demands, and priorities. Similarly, the contact centers use various channels like email, call, text messages, etc., to collect feedback from the customers immediately after the call ends.

    The feedback and suggestions shared by the customers can be both positive and negative. With these customer opinions, the financial institutions get the flexibility to learn about the customer experiences and identify the strengths along with the areas that require further optimization. Call centers can ideally collect this feedback and work on them with utmost care.

  • Managing loans and claims:

    Beside managing bank accounts, the BFSI industry is also responsible for handling loans and managing claims. Talking about loans, from finding prospects to verifying the loan documents and processing them, involves plenty of steps. However, the financial call center lowers the burden to some extent. The call center agents connect with potential customers interested in opting for a loan, providing them proper guidance, and processing the loan after proper verification.

    Similarly, the insurance call center agencies take care of the claims. They verify the documents and offer a seamless service to the customers who are waiting for claim compensation. The call center thus has a significant role to play in managing loans and claims.


With the advent of new technologies and the need for operational efficiency and transparency in business processes. The BFSI industry has witnessed many changes. As a result, the BFSI BPO services in USA and other countries are forecasted to exhibit significant growth in the market.

Find a reliable BPO partner for your banking institution that is proficient in personalizing your customer support services. A certified customer support partner will leave no stone unturned to deliver better customer experiences on your behalf.