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BEST PRACTICES IN WEB SELF-SERVICE IS MISSING LINK TO LOWER ONLINE BANKING SUPPORT COSTS: SAFEHARBOR WHITE PAPERIt takes more than technology to cut support costs and satisfy customersATLANTA, Nov. 5, 2002 - The missing link to lowering costs and increasing customer satisfaction with online banking support is an easy-to-use and well managed Web self-service environment, according to a white paper released today by SafeHarbor Technology Corp. at the BAI's Retail Delivery Conference & Expo 2002. The paper outlines best practices for successful Web self-service support for online banking.Although online banking transactions cost a fraction of what in-branch or ATM transactions cost, many banks are still losing money on their online banking endeavor, according to the paper. The problem, according to SafeHarbor, is that many banks assume that text-based "Frequently Asked Questions" and an e-mail application constitute Web support, and it isn't working. "Technology alone is not enough to reap the cost savings Web self-service can bring, because it's only 33 percent of the solution," said Bo Wandell, president of SafeHarbor. "An online customer support environment must include the other 66 percent, which is technique - the creation and continuous optimization of the content - and the talent and experience to deliver it effectively." SafeHarbor's study claims customer preference for Web self-service increases substantially with the right environment. Most banks experience on average the 10 to 30 percent usage typical of an all-text knowledge base. However, SafeHarbor's clients are achieving Web self-service usage of 83 percent on average. The study says self-service adoption for SafeHarbor's clients rises 304 percent in the first nine months after launching Web support services. This high level of self-service adoption can yield significant cost savings. Industry research shows that a customer support session typically costs $5 to $33 for assisted support via telephone or e-mail and less than $1 for a self-service session. According to the SafeHarbor paper, a successful Web self-service environment must have the following components: * No fees for services * Easy to use and navigate * Show versus tell (graphical interface) * A complete Web support environment - not just FAQs * Self-service integrated with assisted support channels "With current studies showing clearly a trend towards increased consumer usage of online banking, and with customer resistance to additional fees, banks must use Web self-service to keep customer satisfaction high and support costs under control," said SafeHarbor's Wandell. About SafeHarbor Technology Corp. SafeHarbor is the leading Web self-service provider, empowering people on the Web to help themselves. A business process outsourcer, it is the only company that provides support as a service, with an integrated support solution combining Web self-service and assisted support with data warehousing and analytics. SafeHarbor's Support Services is proven to reduce cost, risk and time to market, while improving customer satisfaction. SafeHarbor drives self-service success by leveraging cutting-edge technology with proprietary techniques and human intelligence. SafeHarbor currently provides Web support for some 6,500 end-users every day for such clients as Washington Mutual Bank, American Airlines, NTT/Verio, TiVo, Adobe Systems, and the State of Washington. SafeHarbor's corporate headquarters are in Satsop, Wash.- 90 miles southwest of Seattle. The company also has offices in Seattle and New York. To learn more, please visit www.safeharbor.com. Editorial Contact: Margaret Dawson The Silver Company (206) 624-0388 margaret@thesilvercompany.com top of page |
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