My Banking Odyssey: How a Simple Task Became an Epic Quest

So, I've been banking with this large private-sector bank for the past 25 years. I also had a home loan with its sister company, which recently merged into the bank. Sounds simple enough, right? Wrong.

 I decided it was time to repay part of the principal on my loan. Naturally, I reached out to my Relationship Manager (RM) and asked him for the process. His response? "I have asked someone to connect with you." Famous last words.

 Three days passed, and nothing. Nada. Zilch. So, I took matters into my own hands and filled out a query on the bank's chatbot. I waited, hoping for enlightenment. Instead, I got a call from a sales guy trying to convince me to take out a loan. I explained that I was an existing customer wanting to prepay. He said he was a sales guy and couldn't help but suggest I call another number and press 1 to get to the loan team.

 Fine. I can do that. I waited another day, called the toll-free number, and finally connected with a human. They told me I could only repay up to 25% of the outstanding amount online. For anything more, I had to visit a branch. Great. Just great. When I hinted at moving my loan to another bank, suddenly, they offered me a lower interest rate if I paid an X amount. How thoughtful!

Being a premium customer, top-tier, and all that, I expected better. But I decided to let it go and visit the nearest branch. I walked in, was told to wait, and then generate a token. After a wait that felt like an eternity, they told me it was month-end and they could only accept cheques on the 1st of the next month. I lost it a little, raised my voice, and magically, they agreed to take the cheque today. Ah, the power of volume.

They made me fill out an elaborate form and hand over the cheque. Just when I thought it was over, the lady asked for a bank statement. I bank with the same bank, remember? But I didn't have a statement on me. Cue another round of raised voices, and she finally accepted the cheque. I was told I'd receive a receipt on the 1st, along with the revised EMI details.

Couldn’t someone have told me the branch wouldn’t accept my cheque when I called? Why can’t the bank digitize this process and create a more seamless experience for customers like me?

 Here’s a thought: What if banks used a solid CPaaS platform to smoothen these interactions? With digital processes, all the information would be readily available, saving everyone’s time and sanity. Let’s face it – banking shouldn’t feel like an epic quest.

 Furthermore, why isn't the front line better trained to respond to customer queries effectively? Why doesn't the contact center have comprehensive and updated information? And why can't the bank's website push crucial information through messaging platforms like WhatsApp, outlining the steps or process of prepayment?

 Improving these areas could revolutionize customer service, making it efficient and hassle-free. It’s high time banks embrace these changes to provide the seamless experience customers deserve.

Have you had a similar experience

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