Financial Services KPIs Have Changed: Here’s How and Why

Financial Services KPIs Have Changed: Here’s How and Why

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Welcome, esteemed partners of the financial services realm, to a journey that promises to illuminate the path to customer service excellence.

 In the dynamic world of banking and financial services, every interaction with a client holds the potential to forge an unbreakable bond or lead to a missed opportunity. That’s where key performance indicators (KPIs) come into play—your guiding lights in the pursuit of unparalleled customer satisfaction. Embark on this enlightening expedition with LiveVox as we delve into the seven customer service KPIs you need to track to amplify your customer service strategy.

Cost per resolution

In the complex terrain of financial services, where every choice reverberates with financial implications, the significance of each dollar becomes undeniable. Guiding your expedition towards operational excellence is the cost-per-resolution financial services KPI. This important metric not only points you towards pathways streamlined for efficiency but ensures that every customer interaction serves as a testament to both effectiveness and value.

It’s imperative to recognize that this focus transcends mere expense reduction; it’s about the intelligent allocation of resources to generate substantive value. By meticulously monitoring and optimizing the financial services KPI of cost per resolution, you are actively steering towards the realization of cost-effective objectives while concurrently upholding a standard of premier service for your esteemed clients.

Customer satisfaction score

Visualize a customer stepping out of a branch, their authentic smile reflecting the radiant glow of a sunrise. In the realm of financial services, this scene embodies the essence of the customer satisfaction score—a quantification of such moments of gratification. This financial services KPI goes beyond numeric figures; it encapsulates the essence of outstanding service that resonates through each interaction. Operating as a steadfast compass, this metric consistently directs you toward the paramount goal of customer delight. Embrace it wholeheartedly, nurture its growth, and witness the blossoming of your brand in unprecedented dimensions.

Knowledge base views

In the world of financial services, knowledge is a prized asset. Each interaction that guides clients through your knowledge base acts as a stepping stone toward empowerment.

In the world of financial services, knowledge is a prized asset. Each interaction that guides clients through your knowledge base acts as a stepping stone toward empowerment. The tally of knowledge base views isn’t just about engagement; it offers insights into what captures your audience’s attention. This financial services KPI goes beyond numbers and embodies the power of informed decisions. Think of it as a guiding light, helping your customers navigate through uncertainties. It reminds us that the ability to make informed choices is a valuable resource we provide to our clients, enhancing their financial journeys.

Customer retention rate

Loyalty, intangible yet invaluable, is nurtured through meaningful experiences. The customer retention rate isn’t just a statistic; it reflects the strength of bonds formed with clients. Each retained customer signifies trust, reliability, and a commitment to their financial well-being. It’s a reminder that loyalty isn’t confined to transactions; it’s about nurturing lasting relationships. In the financial services realm, this rate stands as evidence of the trust you’ve cultivated over time.

Average resolution time

In financial services, time holds more significance than a mere number—it’s the pulse of trust, the rhythm of confidence, and the cornerstone of security. Your average resolution time offers insights into the efficiency of your support system. Quick resolutions not only demonstrate your dedication to seamless financial experiences but also reinforce connections. Every moment becomes an opportunity to reassure clients and instill confidence in the services you offer. In a world where trust is paramount, time becomes a currency of its own, an investment to strengthen relationships.

Customer effort score

Envision a customer journey characterized by its tranquil flow, akin to a serene river winding through a peaceful landscape. This imagery should describe the essence embodied by your customer effort score—a journey that seamlessly navigates through intricate financial scenarios. In a realm where complexity often reigns, each interaction should stand as a testament to the simplicity with which you handle complex financial matters. This financial services KPI underscores the principle that sophistication lies in simplicity. Your commitment to unraveling complexities echoes through every interaction, offering clients an effortless voyage through their financial concerns.

Channel performance

Imagine a symphony where each instrument contributes a unique melody, converging to create a harmonious ensemble. Your customer service channels operate in a similar vein, each channel delivering a distinct experience. The channel performance KPI acts as the conductor, harmonizing these distinct experiences into a coherent whole. It’s about tailoring experiences that resonate with clients, whether through the warmth of human interaction or the efficiency of technology. Just as every note contributes to a symphony’s grandeur, each client interaction contributes to the symphony of satisfaction. In this orchestration, every encounter becomes an opportunity to compose a resonant sense of contentment—a financial services KPI that unites the art of service with the science of satisfaction.

Dear trailblazers of the financial services landscape, armed with these seven essential customer service KPIs and LiveVox at your side, you possess the tools to sculpt exceptional experiences. Remember, these aren’t mere metrics; they’re the building blocks of relationships, the foundations of trust, and the catalysts of growth. As you navigate the intricate tapestry of financial services, let these KPIs be your guiding stars, leading you to a realm where customer satisfaction reigns supreme and excellence is the norm.

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About LiveVox

LiveVox (Nasdaq: LVOX) is a proven cloud CCaaS platform that helps business leaders redefine customer engagement and transform their contact center’s performance. Decision-makers use LiveVox to improve customer experience, boost agent productivity, empower their managers, and enhance their system orchestration capabilities. Everything needed to deliver game-changing results can be seamlessly integrated and configured to maximize your success: Omnichannel Communications, AI, a Contact Center CRM, and Workforce Engagement Management tools.

For more than 20 years, clients of all sizes and industries have trusted LiveVox’s scalable and reliable cloud platform to power billions of omnichannel interactions every year. LiveVox is headquartered in San Francisco, with international offices in Medellin, Colombia and Bangalore, India.

To stay up to date with everything LiveVox, follow us @LiveVox, visit or call one of our specialists at (844) 207-6663.

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