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Improve the customer service experience with Co-Browsing


Providing high-quality customer service in a financial context is an ever-shifting game that requires understanding current preferences and expectations, predicting future ones, and providing holistic solutions to meet every eventuality. 

In fact, customer care leaders listed retaining and developing talent, simplifying CX while reducing costs, and evolving their digital care ecosystems as their top three priorities in 2022. This comes as no surprise given the undeniable benefits of a strong one-on-one customer service experience both as a means of cost management and new revenue generation.

For example, in a cost-center scenario, the ability to unify communications and simplify system architecture is an increasingly popular method of reducing costs. Another Forrester report takes this a step further, claiming that a contact center should become a source of revenue, determined by the strength of your customer service. This is also true in a wealth management context, where more than four client-advisor interactions per year improves client satisfaction with the service, which has a direct impact on revenue. 

What do customers want? 

While no two contexts are exactly the same, there are key trends we can identify that constitute a strong customer service. For example, although a private wealth situation often differs from insurance or retail banking, factors such as speed and quality of service, security, and an appropriate service level all influence the overall experience. 

Simple experiences are routinely carried out using digital channels, such as paying bills, making transfers, or depositing money. What’s more, these channels also serve as a preferred intermediary between the customer and a human agent. According to one Deloitte survey, 30% of millennial and Gen X respondents would opt for digital channels, such as mobile apps or online portals, to connect with a customer support agent or financial advisor.

This situation highlights the importance of omnichannel capabilities across the entire customer journey. No one touchpoint is enough to meet the ever-shifting demands that characterize the industry. Customers or clients need to move seamlessly from self-service support to Live Chat or Secure Messenger channels or to more complex forms of customer interaction. 

Once we get to these more complex service needs, the requirements of different targets often merge, in terms of the level of service and types of communication channels they need. Whether applying for a loan or discussing investment options, the advice the customer or client receives needs to be in-depth, actionable, and collaborative. 

Phone calls or video chats, while integral to this stage, often fall short in terms of delivering the expected service. When we compare video & voice to an in-person scenario, both parties are limited in what they can achieve. 

It’s in this context that Co-Browsing sessions become essential to provide an excellent service experience. We’ve spoken before in detail about what Co-Browsing is and how it differs from screen sharing, but essentially it is a tool for next-level collaboration that allows both parties to securely interact with a specific document or browse the internet, and includes whiteboard capabilities and the ability to legally sign documents.

Co-Browsing benefits from the organizational side

When looking at it from an organizational standpoint, Co-Browsing sessions positively impact the areas that are most important to customer care leaders.

Co-Browsing sessions leverage the best of human expertise

Unlike with screen sharing, Co-Browse technology amplifies human expertise to the highest level possible in real time. As advisors or agents are able to interact with the document, web page, etc. alongside the customer or client, they are better able to explain the situation in the most effective way possible. This is particularly useful in a service context as it allows the customer service  agent to address not only the issue at hand but also to explore common repeat issues. In this way, they’re able to reduce channel congestion in the long run as fewer people will need additional support. 

It reduces costs while simplifying the experience

Customer service has the unfortunate reputation of being a resource drain on a company. While, as the Forrester report mentioned earlier points out, excellent customer service can represent a revenue stream, it is true that there are always going to be costs associated with it. 

Expenses are unavoidable – but how much an institution spends can be reduced. With Co-Browsing software, there are potential cost-savings thanks to a more efficient experience that resolves issues quickly and preemptive education to avoid repeat callers. In fact, Unblu’s Co-Browsing helped one retail bank to reduce call duration by 40%, freeing agents up to spend time elsewhere.

The reason that Co-Browsing technology works so well is because it’s easy to use for both the agent and the customer. When integrated as part of the entire Unblu Conversational Platform, it provides an out-of-the-box omnichannel experience that can be fully leveraged with minimal training.

It strengthens the overall service ecosystem

Co-Browsing solutions strengthen the overall ecosystem in a number of ways, particularly when it comes to security for both banks and customers. Agents and clients alike are able to see the website or application and nothing else. Unlike screen sharing, they can only see the shared browser, rather than any open browser tabs or application. Furthermore, the field masking function governs what an agent can see when customers are inputting their personal information during a session. These stringent security and compliance measures is why Unblu was awarded SOC 2 Type 2 compliance in 2023. 

The impact of Co-Browsing on the customer

Of course, the true test of any customer service tool is in its ability to improve conversions, boost customer loyalty, and drive revenue. The situations that require more complex support are generally key moments in the relationship for customers. Use cases such as providing digital advice, supporting the sales team, or ensuring customer experience are make-or-break scenarios for financial institutions – and these are exactly where Co-Browsing really comes into its own. 

Essential visual context

Providing a visual experience for complex issues means agents witness issues as soon as they arise. Customer onboarding is simplified and problems can be rectified quickly and agents can guide customers through points where they might otherwise leave the site – or drop off.

Swifter issue resolution

With agents able to see exactly what is going on, customer issues can be dealt with much faster than with a phone call or chat without any visual representation. Customers and agents can collaborate in real time so they can highlight specific problems and bring the average resolution time down. This enables both customers and agents or sales reps to get to the point quicker and find a solution faster.

Better customer satisfaction ratings

Customers feel engaged and energized when they interact with a customer service team who can offer a personalized experience. Co-Browsing sessions allow agents to customize their advice and feedback to suit each person’s specific problems. Compared to an impersonal automated service, collaborative browsing offers a solution that is the high-tech version of a face-to-face interaction.

Customer engagement for stronger relationships

With customers running into less issues, they are less likely to abandon and drop-off. This means greater customer satisfaction which, in turn, means they will respond to calls-to-action with increased frequency. In other words, better conversion rates. Simply by engaging with them at the right time and guiding them through tricky stages of the process, agents can improve conversion rates and encourage repeat sales, and create loyal customers.Want to experience Unblu Co-Browsing or other customer support tools first hand?

Request a demo and one of the Unblu team members will reach out to help you get started.