LAST WORD Mary Pennington
The digital world needs hands-on client service The digital assets market can often be dominated by talk of technology and automation. But is there also a place for the human touch? We asked BCB’s Head of Product and Executive Director Mary Pennington.
Q: Digital assets and payments are all about tech. Is there a role for human client service in this market?
been carried out on everyone in our network. It allows us to offer products and services such as BLINC to all account holders because all our clients have been through compliance checks as part of the onboarding process. Now we are at a stage where we want to bring the compliance side, the business, and client service together to strike a better balance in how we onboard our clients. So, we are working on enhancing our onboarding process, maintaining the strength of our compliance procedures while improving the client experience. We want to get it absolutely right before we announce any details, so watch this space. Q: How important is client service to the sector and to BCB’s own growth strategy? A: It’s critical. We want to have longevity, and we want to expand as any business does. We need to be sure that what we are adding value to our clients’ business. This is going to be even more important as digital assets and payments are adopted by a wider business community. The kind of companies we want to attract are not necessarily digital natives and may be entirely new to these types of products and technologies. They may be unsure about how it all works and they may have reservations about digital assets. Helping those types of business take advantage of the new possibilities with confidence – that is where the human touch is going to be paramount. ◆
A: There most definitely is and it is arguably even more important than in other sectors. This is a nascent industry, meaning there is an element of the unknown and of risk for many clients. In those circumstances, providing a human touch can make a big difference. Most of our clients have a direct relationship with a dedicated account manager. On top of that, all our clients have access to us through their own chosen channel – such as WhatsApp, Slack, or Telegram. When clients message us, it's through their dedicated channel and we respond to them rapidly. We’ve had this client channel model from the very start, and we have maintained as we scaled up, because we think it really matters.
Q: How do clients rate the quality of your service?
A: Our clients can feed back directly through their account manager or through their dedicated slack or telegram channel. But we also carry out regular reviews, including a Net Promoter Score (NPS) survey. With our most recent survey our NPS score was 55, which is great to confirm how our clients value our service, and acts as a benchmark for how we can look to improve this overtime. Q: Onboarding in digital markets is often criticised for being slow and cumbersome. Why does it feel like that to some clients? A: Onboarding can sometimes feel protracted and that is the reality across the reputable segment of the industry. It comes back to risk. Any company like BCB, which puts compliance and regulation first, will require significant input from clients at the early stages of onboarding. By putting compliance and regulation first we give clients with confidence that robust checks have
Q: How important is client feedback to the product team provides?
A: Before we roll out new products or changes, we want to make sure we’re adding value for our clients. The best way to do this is by speaking to our clients to understand what they need. Before every major feature enhancement or product that we release, we speak to clients. We don’t aim for perfection, but if we can incorporate client feedback into each stage of delivery we’re constantly evolving and improving our product set based on what our clients need.
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