By Joel Sylvester, Chief Client Officer, Five Star Call Centers
The financial industry is rapidly changing and many companies are struggling to keep up.
Customers seeking financial services can choose from myriad banks, wealth management companies, insurance agencies, mortgage brokers, and more. Additionally, there are virtual agencies, brick-and-mortar, and combinations of the two. Retaining current clients and reaching new ones hinges on customer service, technological advances, and omnichannel capabilities
To stand out, you must embrace current financial business trends and deliver exceptional customer service. Call centers in the banking and wealth management sectors provide solutions to help all financial institutions streamline operations without interrupting business continuity.
Read on to see why financial companies rely on call center services.
Want to experience outsourced customer care with Five Star Call Centers? Contact us today to learn more.
What is a Financial Services Call Center?
Financial institutions are consumer-driven agencies that prioritize high-level customer services. Current business trends in economic sectors point to the need for more technology-focused operations and enhanced consumer service.

Call centers for financial institutions deliver expert customer care while supporting internal operations 24/7. Banking and financial institutions partner with call centers to navigate labor shortages, improve communications, streamline operations, and to take advantage of the latest technology
Call center outsourcing can help leverage the newest tech and provide excellent customer service, helping your financial company flourish.
Top 3 Trends in the Financial and Banking Sectors
To see how inbound call centers can help your company, let’s examine some top trends that affect modern banking and what customers expect from their financial institutions.
1. Financials on the Go
Mobile banking is on the rise and today’s customers are looking to take care of their finances from the palm of their hands. Secure apps allow financial institutions to reach a broad base of new clients by delivering mobile capabilities. 66% of unbanked global citizens own cell phones. This means the banking sector has the chance to capture first-time customers by leveraging mobile devices.
Mobile tech also reduces the need for a large workforce, helping businesses struggling with talent shortages. Customers can make deposits and payments, apply for loans, access their 401k and life insurance information, and more without going through a teller or making an in-person appointment.
2. Artificial Intelligence and Interactive Voice Response Technology
The financial industry is no stranger to advanced tech. It has adopted automation services to assist with routine tasks, fraud protection, and risk calculations. It’s no surprise that financial companies will employ AI and IVR to streamline operations and improve customer service. Worldwide, AI spending is predicted to reach $204 billion, with financial institutions contributing an estimated 14%.
3. Multi-Platform Customer Service
Technology and automation improve the overall customer experience, especially for younger generations. For example, 64% of Generation Z consumers feel AI provides faster service and has an overall positive impact. 37% prefer to open a banking account through a mobile app.
Omnichannel financial services provide various platforms for customers, allowing them to manage their money and private information on their terms. Positive customer service is essential to attracting and retaining clients. Utilizing call centers offering email, phone, SMS, apps, and other forms of communication boost the client experience.
Benefits of Inbound Call Centers for Financial Companies
Here are just some of the reasons why monetary-driven companies partner with call centers.

Modern Convenience: Inbound call center services allow customers to get questions and concerns met quickly and professionally. Call center agents are available 24/7 to field a wealth of consumer needs—including deposits, payments, loan information, and more.
Omnichannel Capabilities: Call centers manage various communication platforms like social media, SMS, live chat, email, phone, and IVR. Agents can direct priority communications or digital interactions so they can be quickly resolved.
Versatile Financial Management: Agents come highly trained in all manners of financial duties and can carry out responsibilities such as:
- Debit and credit card inquiries
- Loans
- Check cashing
- Payments and accounts receivables
- 401K’s
- Health plans
- Life insurance policies
- Prepaid and rewards cards
The Promise of Security: Financial customers want assurance their information is safe from theft. Outsourced call centers handle sensitive material safely to prevent data breaches.
Partner with Our Financial Services Call Center
Five Star Call Centers isn’t your ordinary call center. We provide agents that are experts in your field, so your clients will always receive professional care. We use the most powerful contact center software, manage communications across platforms, offer on-site IT support, and have outstanding quality assurance.
Our award-winning company is here for all your needs. Contact us today to learn more about our financial industry services.
Learn more about Five Star Call Centers. Check out these case studies showing how we help our clients find solutions to their call center outsourcing service needs.
Click to View or Download Our Checklist