A banking intranet that drives better customer and employee experiences

Darian
By Darian Mavandad
March 8, 2023
5 min read
Blog
Engagement

Last week, we looked at how a banking intranet can provide strategic value to executive teams by benefiting key organizational processes. Digging a bit deeper, we at IC know that the goal for almost all executive teams is providing both their employees and their customers with the greatest experiences possible. In many ways, one is not possible without the other—a great customer experience is due to a great employee experience. Both of those areas are where a banking intranet can elevate and enhance experiences across the board, and help executives reach their organizational goals.

Let’s take a look at how a banking intranet can impact your customer and employee experiences. For a more in-depth look, be sure to check out the free eBook which this blog series is based on.

How a banking intranet can support and improve customer service and experience

Intranets are internal-facing channels aimed at the workforce, but they can have a significant impact on external customers too. The strategic investment you make in your intranet can result in tangible improvements to customer service and satisfaction. This happens in several different ways, from providing relevant product and services information to empowering frontline staff to serve customers better, through to general improvements in employee experience.

Empowering frontline staff with product and services knowledge

Customer-facing staff on your frontline often need to refer to up-to-date and accurate information about products and services to be able to provide accurate information to customers and resolve any queries and issues. Being able to access this information quickly and easily is paramount and can even be a source of competitive advantage; for example, customers will just go elsewhere if they are left waiting by contact center staff.

Frontline staff are empowered to help customers by leveraging a powerful banking intranet so they can find the information they need immediately. An intranet can also help establish an online community for frontline staff where they can ask questions and get answers quickly, again improving customer support.

Nurturing a customer-first culture on your banking intranet

Banking intranets are channels that can help establish and nurture a culture of customer service within any organization. Internal communications and messaging can emphasize your values, sharing inspiring examples of customer service across staff. You can also celebrate success by publishing positive feedback from customers. Events and learning that enable staff to improve their customer service skills can also be publicized on the intranet homepage via an events calendar, again contributing to an organizational culture where customers and excellent service comes first.

Download now: The Ten Essentials of a Financial Intranet [Free eBook]

Improving employee experience to improve the customer experience

As we have already discussed, investing in an intranet can lead to an improved employee experience. Research at MIT has shown that companies with strong employee experience also have higher levels of customer satisfaction than those that don’t. When your employees are happier and enjoying a working environment with less stress and higher productivity, it is reflected in the care and service provided by customer-facing staff, particularly in high-touch sectors like financial services, retail, hospitality, and leisure.

Group of business people in an office

How a banking intranet can help improve employee experience

Now that we know how engrained the customer and employee experiences are at a financial organization, let’s take a look at how a banking intranet, as a vehicle for communications from senior leaders, but also a channel for dialogue, plays a key role in driving an improved employee experience.

When you have a positive and open culture, where employees feel listened to and valued, and where there is a real sense of connection and community, then people feel proud to be working for their organization. That’s when the magic happens; research from Gallup suggests organizations where more employees are invested in a company’s mission or purpose can enjoy reduced absenteeism, greater safety records, and improved quality.

Reflect and amplify your culture

A purpose-built banking intranet helps to mirror and amplify the positive aspects of your culture. Internal communications can disseminate and reinforce your values by focusing on examples of them in practice, such as items detailing good customer service or innovation. You can celebrate company successes and showcase inspiring stories from right across a diverse workforce.

You can also focus on leadership communications which are both formal (such as announcements) but also use more informal formats such as blogs and videos, which can resonate more with employees and better reflect the passion of senior leaders.

Provide clarity and transparency via a banking intranet

Your banking intranet is a channel that provides essential information on all aspects of your organization including performance, current strategy, and future plans. It also gives everybody in the company access to this information, providing an essential level playing field so that all employees are kept informed. When you have more open access to information, it establishes a culture of transparency as well as providing clarity for employees, which in turn can also support more accountability across different divisions and locations.

Give employees a voice on your banking intranet

Your banking intranet is not just about top-down messaging; they are also channels for two-way dialogue where employees can express themselves through blogs, discussions, commenting on news items, and more.

Giving employees a voice is an important dynamic in employee engagement, as employees are more likely to feel they are listened to and that their views are valued.

These various intranet features also provide a unique opportunity for senior leaders to directly engage in dialogue with employees, get feedback on initiatives, and gather opinions on a variety of different topics. Understanding employee sentiment and engaging in direct conversation has enormous benefits for leadership, supporting better decision-making and allow them to get closer to the workforce.

Executives can begin improving customer and employee experiences today

To learn, in detail, how a banking intranet can provide value across all areas within an organization, download our Intranet guide for executives eBook for free! And when you’re ready to explore a robust banking intranet solution, the team at IC is ready to help!

Darian
By Darian Mavandad

Darian has a degree from McGill University, and joined IC to empower internal communicators by creating content that inspires. In his free time, he loves traveling, reading, and skiing.