Why Customer Service Will Always Be Prevalent in Financial Services

Financial advisor with customer

Technology has played an enormous part in making financial services more accessible. For example, automation has been baked into anywhere money is being managed lately, and people now have more options than ever when it comes to looking after their funds. Automated accounts, credit checks – it’s all stemming from the latest and greatest technology.

There’s a degree of optimism and apprehension around the most recent developments here, and it’s all understandable. As with most things, there’s a limit as to how much technology is effective. For example, can it replace traditional customer service?

Well, the answer is an ardent no, and here’s why.

Trust and care

People are understandably very protective and concerned over their finances, no matter what level of luck is coming their way. When they’re moving larger amounts of money around or making extortionate and risky investments, a person can do what a machine cannot; reassure, smile and offer some comforting advice.

Put simply, the human touch is key. Serious money queries can’t be effectively answered with a hollow machine firing back pre-scripted answers; instead, a qualified professional with interpersonal skills will be required. It’s what makes people confident to follow through on expensive decisions and can be what ultimately turns a frugal person into a big spender.

Report with new clients

There’s the business perspective to consider too; financial services need clients to not only approach them but return for business too. For this to be possible, a successful report needs to be established between financial advisors and their clients. Once again, things like warmth, empathy and personality are required here to see this all through and establish a solid working relationship.

Once that dynamic has been built, customers and clients will circle back to the same businesses for their financial needs. This in turn keeps everything in demand, people in work, and money circulating around all areas of the economy. In many cases, customer service is the much-prized starting point for many triumphs in financial services.

Building a reputation

Of course, when enough clients are satisfied, word of mouth will surely spread. While people might be impressed with automation for ease and convenience for some services, it’s often used as a supportive measure; a nifty perk, rather than the core of any financial service or business. If customers are handed off to machine when they’re panicked and fearful, it can possibly be interpreted as belittling or underestimating their issues.

Human interaction through customer services shows that the client is valued and worth the time of the financial service. Showing that level of understanding is key to building the reputation of the service, and also ensuring it’s longevity.


Ultimately, people depend on their money for their lifestyles and very survival. Therefore, handing off their concerns to machines or software in these circumstances could be construed as insensitive. It’s a topic that’s almost too important for a robot to assume control over, so customer service will always be at the fore to provide reliable guidance and support.

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