Independent Banker - June 2023 - 22

PORTFOLIO
FOCUS COMPLIANCE
How to see the value
of customer complaints
No one likes customer complaints, but they can provide a wealth of
information that can improve both your community bank and your
customers' experience. By Jen A. Miller
ommunity banks hope that every
customer is 100% satisfied with
every single interaction, but that's just
not possible in the real world.
But even if negative feedback is
hard to hear, customer complaints
shouldn't be avoided or dismissed.
Instead, they should be seen as an
important tool in building better
customer service. By listening to pain
points and fixing issues accordingly,
community banks can reduce risk and
improve customer satisfaction.
Getting any kind of feedback
C
" gives us the opportunity to help
funnel changes and improvements
that a community bank might want
to make to be competitive, " says
Michelle Fernandez, senior vice
president of customer insights, quality
and performance at $4.7 billionasset
Broadway Bank in San
Antonio, Texas.
Four years ago, Broadway Bank
launched its Voice of the Customer
program, which uses tools such as
surveys and social media monitoring
and employee feedback to help
the community bank keep tabs
on customer sentiment. Feedback
forms are automatically sent to
customers at important stages of their
banking journey, whether it's seeing
how they felt about the mortgage
loan experience or their recent
loan interaction.
" The intent is to capture feedback, "
Fernandez says. Whether it's good
or bad feedback, it is automatically
collected and added to Broadway's
workflow to make sure that customer
praise, along with criticisms, pain
points and customer frustrations,
are identified and addressed. For
example, if feedback indicates that a
customer is going to leave the bank, a
banker follows up with that customer
within 24 hours.
Using digital forms can make it
easy for customers to give feedback,
22 // ICBA Independent Banker // June 2023
Artwork by Aleksei Derin/iStock

Independent Banker - June 2023

Table of Contents for the Digital Edition of Independent Banker - June 2023

Contents
Independent Banker - June 2023 - Contents
Independent Banker - June 2023 - Cover1
Independent Banker - June 2023 - Cover2
Independent Banker - June 2023 - Contents
Independent Banker - June 2023 - 2
Independent Banker - June 2023 - 3
Independent Banker - June 2023 - 4
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