of 3

Live Chat: what is it and why it’s important in banking

Live chat technology has been one of the most important additions to the customer service tool box in recent years. Enabling advisors to instantly communicate with visitors via text dramatically improves the speed, efficiency, and quality of the customer-advisor exchange. Live chat allows banks and financial institutions to meet the changing demands of customers who, nowadays, won’t settle for waiting.


In retail banking or insurance, live chat allows agents to offer guidance on customer’s finances whenever they ask for it. Customers no longer have to visit their branch for expert advice - it’s all available online. Live chat allows client and advisor to chat and make financial decisions together without having to be in the same location. If the client wants to, they can then even move to video chat to gain that extra reassurance.

There is clearly a big difference between a live chat handled by a human advisor and an automated chatbot conversation. Chatbot interactions often only provide generic answers, without customers being able to then speak with an agent, leaving them frustrated and dissatisfied. Humans are social creatures, reassured by person-to-person contact. But they also want efficiency, speed, and convenience.

Why Unblu live chat is a good option for financial services

Live chat brings multiple benefits to banking and insurance companies. It uses high-tech to enhance customer service, building better relationships which in turn means happier customers who are more likely to return.

LiveView: Live Chat together with Co-browsing

The time spent on customer support is dramatically reduced by using live chat and even more so when live chat is used in conjunction with co-browsing. Advisors are able to see exactly what the customer sees and identify the specific problem. This reduces the length of a support chat session by more than 50%. Advisors can get inside the context of a conversation and then chat with customers in real-time. The overall result is an accelerated sales process.

Prompt support

The Chat Concierge functionality asks visitors for their information before the chat begins. This allows requests to be prioritized and assigned to the relevant agent. Similarly, chats are automatically assigned to active agents or departments. This means customers receive support promptly and aren’t left waiting around. Equally, agents don’t become overwhelmed with too many conversations to handle.

Automated responses with personal touch

Live chat makes conducting a conversation and communicating with clients quicker and more efficient with tools such as canned responses and macros. These use automation to speed up the writing of messages by agents. More importantly, they still come from a human advisor rather than a chatbot so are far more likely to be the correct response and to feel personal and reassuring.

Secure communications

In the world of financial transactions, all data must be handled securely and meet financial regulations. On-premise and cloud deployments guarantee control over data flow and storage, as well as meeting the requirements of security compliance. Furthermore, all conversations are archived so they can be used in the case of a claim by the customer.

Trusting relationships

With live chat, agents can see what is going on and proactively respond to problems, guiding customers at the very moment that they are needed. This builds trusting relationships that converts visitors into customers. Leads are generated in a speedy and efficient manner, with customer interest maintained at points where they might otherwise drop off.

Save time and costs

Customer service is vastly improved as advisors can respond promptly to problems. The chance of repeat problems is smaller as advice is specific rather than generic. Advisors can even speak to multiple customers at once - which is far more productive. Finally, customers leave satisfaction ratings which can be used to further improve the service. All in all, this means savings on support time and costs.

Live Chat and Unblu

With a conversational interface like Unblu, technology can be used in banks and financial services to enhance and facilitate human relationships, rather than leaving people alone and lost in a digital disconnect.

Learn how to strike the right balance between digital efficiency and human expertise by booking a Live Chat demo.

Conversational Banking,Customer Experience,Unblu Platform,Live Chat