“Make it easy for the customers to complain to you instead of feeling frustrated going to social media. PayTabs, on our support channel, you’ll find a link encouraging merchants to escalate their complaints to the senior management, which happens, and it reaches the managers and the department head. That has been one of the most valuable sources of intelligence,” said Adel Hameed, Senior Vice President, Global Customer Success of PayTabs.
The company’s approach is straightforward. It prioritises customer feedback and needs to inform the services required by the customer. The customer support team gathers data on the root cause of recurring complaints and compiles it into a list. Subsequently, the product and engineering teams adopt these issues as projects to develop features or solutions for PayTabs products.
Hameed talks to Martechvibe about the company’s product suite, technology pursuits, and KPIs. He also recommends how financial institutions should approach customer journey mapping to identify pain points and opportunities and improve CX.
Excerpts from the interview:
Tell us about your latest additions to your suite of products/services. What challenges do they help solve for banking customers?
We have two types of customers: SMBs and enterprise customers such as banks, commercial groups, and government entities. As for SMBs, we deliver the payment processing service in partnership with locally licensed banks, and we focus on scalable customer success operations. We provide our support services directly to the merchants branded by PayTabs and, in some cases, white-labelled on behalf of our enterprise customers. In addition to the payment gateway and QR payment, in 2022, we announced the acquisition of Paymes social commerce platform based in Turkey, which has gained huge popularity in Egypt.
PayTabs started with a payment gateway product focused on the acquiring side and, through strategic M&As, expanded to cover the complete payment lifecycle, acquiring issuance, and processing, which we refer to as the PayTabs orchestration platform. The orchestration platform is built mainly for our enterprise customers in the Middle East and Africa region, where they can benefit from launching their own, white-labeled payment orchestration service on a modular basis, meeting all local data fencing and security requirements. So, if a bank wants to start its own card issuing program or payment gateway, PayTabs can launch its full platform and help launch their products in the market within 5-12 weeks.
How is PayTabs leveraging technological advancements to enhance the customer success experience for its clients?
We have two categories of technological advancements: the first is PayTabs’ IP, our products, and the second is the technology tools that enable us to deliver our service.
Our formula is simple. We focus on the customer’s feedback and needs, to guide us on the services needed by the customer. The customer support team collects information on the root cause of recurring complaints and adds it to a list, where the product and engineering teams then take it on as a project to develop a feature or a solution to PayTabs products or, at times, just a tutorial that will help address this issue.
We follow a philosophy where we focus on developing the right processes, team members, and policies, then we choose a reliable third-party technology that helps us speed up the delivery of our services to merchants via their preferred channels, such as WhatsApp.
What key performance indicators (KPIs) does PayTabs use to measure and track customer success?
- SLAs on the responses and time to resolve the tickets.
- Qualified complaints trends
- Solution article views and likes
- CSAT reviews (including Trustpilot and Google reviews)
- Churn rate. Exit interviews to collect data and attempt to retain merchants
- Retention rate from our proactive retention activities.
There are other metrics we monitor to ensure continued improvement in our efficiency such as ratios of tickets to merchants and tickets to customer support representatives, which will help us maintain an accurate capacity calculator and enable us to set efficiency milestones.
Also Read: Cracking the Customer Feedback Code with AI
How should CX leaders in the BFSI industry choose the best solution for their stack?
Create a strategic framework document that outlines the services you want to deliver, the customer access channels, and the routines the team will follow to deliver the service (including administration activities such as scheduling shifts, reviewing the junk inbox, or conducting quality reviews on the responses of the team to the customers). If you’re a startup, then start simple; choose the simplest tool that will help you count and organise your work. If you already have a ticketing system and channels in place, then it’s best to focus on one component at a time to prototype small solutions.
Also, you need to make sure you have a knowledge base that helps all your customer support staff know how to use the tools and who to reach out to when they face a challenge in a specific area.
What advice would you give teams to align people and processes to get the most from your technology?
First define the service delivery framework, then align the team, and finally align the technology tool that fits your needs. There’s no one perfect software solution, but there’s an optimal one that helps your customer success representatives succeed at delivering the service and solving the customers’ issues.
How should financial institutions approach customer journey mapping to identify pain points and opportunities for improvement in the customer experience?
Make it easy for the customers to complain to you instead of feeling frustrated going to social media. PayTabs, on our support channel, you’ll find a link encouraging merchants to escalate their complaints to the senior management, which happens, and it reaches the managers and the department head. That has been one of the most valuable sources of intelligence. When the number of complaints drops, we interview and talk to customers to understand what else they’re looking for, which has been helping us prioritise our time on what matters: new features, products, and acquisitions.
We also realised that most of our SMBs don’t work directly with our support team but get their developers to work with us. That’s why we started investing so much time and effort in educating developers on the product through tutorial articles, and videos.