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Tuesday 25 June 2019


UK banks web chat use to triple by 2020

Written by Peter Walker

UK financial services firms expect their use of web chat to grow from 24 per cent today to 89 per cent by the beginning of 2020, according to new research.

A survey of over 200 UK contact centres by ContactBabel found that the use of interaction analytics is expected to rise from 33 per cent to 77 per cent in the next two years, while automated speech recognition is expected to increase from 17 per cent to 52 per cent over the same timescale. Much of the latter is being used to reduce fraud and the time required to take phone customers through security.

Due in part to this increased automation, the sector will see a drop in contact centre employment of around 7,500 jobs by 2020.

The report’s author and ContactBabel principal analyst Steve Morrell said: “With average call lengths in UK financial services contact centres having risen by over 50 per cent since 2010, the industry is looking for ways to manage their costs while maintaining the quality of customer service, and making each customer more profitable.

“AI-enabled web chat can handle a large proportion of straightforward customer requests, while automating the customer identity process will shorten call times and reduces fraud,” he continued, adding that analytics provide opportunities for growth through providing contact centre agents or the automated channel with timely and relevant cross-selling and up-selling offers.

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