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Infographic
Jul 11, 2022

the high cost of poor, and significant benefits of good, tech provider service and support

Explore the Good and Bad of Service and Support

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Executive Summary

The quality of the service and support offered by your technology provider has real- world, bottom-line impacts on your financial institution. On the debit side, it can affect everything from productivity to accountholder loyalty. On the credit side, it can help you build your brand and avoid regulatory scrutiny.


serious impacts of poor service and support

Impact Why It Matters
Reduced Productivity When your people spend too much time dealing with technical problems instead of focusing on strategic goals, productivity suffers.
Operational inefficiencies Frequent disruptions caused by unexpected core outages, lagging or glitchy systems, or breaches can result in significant operational inefficiencies.
Subpar Performance Inadequate support can extend outages and performance issues, affecting both your operations and accountholder experience.
Accountholder Dissatisfaction Inadequate support can extend outages and performance issues, affecting both your operations and accountholder experience.
Regulatory Scrutiny Delayed resolution may result in non-compliance, which could expose your institution to fines, legal consequences, and increased oversight.
Stagnant Innovation When key staff are tied up managing service problems, they’re not innovating, adopting new technologies, and remaining competitive.

dollars-and-cents benefits of exceptional service and support

Exceptional service and support from a technology provider who acts as a trusted adviser can create significant benefits for your financial institution.

Benefit Why It Matters
Increased Efficiency Reliable systems and timely support help you to operate more efficiently, enabling staff to focus on serving accountholders
Enhanced Reputation Robust and responsive service and support will help keep your operations running smoothly, which can strengthening your brand.
Boosted Revenue Exceptional support helps you keep accountholders happy so they’re more likely to stay and use more of your products and services.
Competitive Advantage Well-supported systems make it easier to retain loyal accountholders and attract new ones, including Gen Z, small business and commercial clients.
Heightened Regulatory Compliance Reliable, high-quality service ensures systems stay aligned with regulatory requirements, reducing the risk of non-compliance brand damage.
Reduced Costs Proactive support and maintenance helps prevent costly system failures and reduces the need for costly emergency fixes

what’s the key point?

Poor customer service from a technology provider can reduce your bottom line while exceptional service can enhance it.

discover the value of high-quality service

Is service and support from a technology provider really that important? Hear what your peers have to say in this short video.

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