How a web portal can improve your financial business in 2023

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How a web portal can improve your financial business in 2023

Financial organisations such as investments, regulatory, pensions, banking and insurance need to maintain competitive, meet compliance obligations and efficiency to reach strategic objectives. Digital tools, when implemented fit for purpose, can help to achieve these goals and overcome organisational challenges. These industries are increasingly leveraging Web Portals to provide these advantages, some of which we have picked out below.

Self-service options

A web portal can provide customers with self-service options, such as the ability to view account information, make payments, and access documents online. This can reduce the workload of customer service representatives and improve the overall customer experience. For example, if a customer needs to view their account balance or make a payment, they can do so through the web portal rather than calling customer service. This can help to reduce wait times and improve the overall customer experience. In addition, a web portal can be used to provide customers with access to educational resources and tools, such as budgeting calculators and financial planning resources. This can help to improve financial literacy and empower customers to take control of their finances.

Communication

Web portal can be used to communicate with customers, such as by sending alerts or updates. This can help to keep customers informed and improve the overall customer experience. For example, a financial business could use a web portal to send alerts about changes to account terms or interest rates, or to provide updates about new products or services. This can help to keep customers informed and improve their overall satisfaction with the business. In addition, a web portal can be used to provide customers with access to a knowledge base or FAQ section, which can help to answer common questions and reduce the need for customer service interactions.

Streamline Processes

Efficiency can be improved through the use of a web portal to automate routine tasks such as account management and document management. For example, a web portal can be used to streamline the account opening process by allowing customers to complete and submit an application online rather than in person. This can save time and reduce the workload of customer service representatives. In addition, the web portal can be used to automate document management tasks, such as storing and organizing customer documents electronically, saving time and reducing the need for paper-based storage.

Improved data management

Web portals can be used to store and manage customer data, which can help to improve decision-making and risk management. For example, a web portal could be used to store customer account information, transaction history, and other data, which could then be analyzed to identify trends and patterns. This can help a financial business to make more informed decisions about how to best serve its customers and manage risk.

Marketing Support

Marketing efforts can be improved through the use of a web portal to deliver targeted campaigns and offer personalized products and services to customers. This can increase customer satisfaction and the effectiveness of marketing efforts. For example, a web portal can be used to segment customers based on their characteristics and behaviours, and then create targeted marketing campaigns for each segment. In addition, a web portal can track customer interactions and preferences, allowing the financial business to personalize product and service recommendations to individual customers. Automating marketing processes, such as email campaigns and social media marketing, can also be done through a web portal, saving time and improving the efficiency of marketing operations.

Financial businesses need to have visibility and transparency with digital tools available to customers to remain competitive in this decade. Web Portals are a powerful solution to meet upcoming challenges and growing expectations of customers.

January 4, 2023
Dan Norris - Communications Manager ServerSys

Daniel Norris

Daniel Norris is the communications manager for The Portal Company. His role is to bring you the latest updates, tips, news and guides on Dynamics 365.

If you have any questions, please get in touch with us at [email protected]

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