5 Best Live Chat Software for Banking Compared in 2024

When it comes to live chat software, there are countless options out there, each offering a variety of benefits. When you’re looking for the best live chat software for banking, many special considerations come into play. It’s not just about offering quick responses—it’s about ensuring robust security, maintaining regulatory compliance, and providing a seamless, personalized experience that keeps customers coming back. 

In banking, trust is everything, and the right live chat platform can make all the difference in building and maintaining that trust. A recent study found that 75% of customers prefer live chat for quick responses during their banking interactions (Source: Econsultancy) In this article, we’ll explore 5 best live chat software specialized for your bank. So, let’s dive in. 

Key Factors to Consider Before Choosing Live Chat Software for Banking

When choosing live chat software for banking, you must consider key factors that can make or break your customer service experience. Here are some essential things you should keep in mind:

1. Security and Compliance

First and foremost, security is everything in banking. Your live chat software must comply with industry regulations like GDPR, PCI DSS, and other financial privacy laws. In addition, make sure it is ISO certified for information security which is crucial to maintain banking compliance. 

Also, you should look for end-to-end encryption, secure data storage, and user authentication features to protect sensitive information. If the software isn’t secure, your customers won’t trust it—and neither should you.

2. Co-browsing and Screen Sharing 

Co-browsing allows customer service agents to view and interact with a customer’s browser in real time. This personalized live chat feature plays a key role in providing direct guidance through complex banking tasks like online transactions, filling out any form, and loan applications. 

This feature makes customer support hassle-free by reducing confusion. It offers a hands-on experience for faster resolution of customer queries, in particular, for users who need extra help navigating banking platforms.

Moreover, screen sharing allows agents to view a customer’s entire screen to assist with technical issues or step-by-step tasks, such as document submission or security setups. It helps agents quickly diagnose problems and guide customers more effectively. This feature makes interactions more efficient and transparent for troubleshooting or navigating detailed processes.

3. Customer Support and Training

No matter how great the software is, issues can arise. Before choosing a live chat software for banks, you need to ensure the provider offers excellent customer support and training for your team. A reliable support system will help you get the most out of the platform and address any technical problems quickly.

4. Audio/Video Call

Integrated audio and video calls provide a more personal touch to customer support. While live chat is great for quick interactions, audio/video calls are essential for addressing more complex or sensitive matters, like investment consultations or fraud alerts. Video calls, in particular, build trust by offering face-to-face communication. It makes customers feel more connected and reassured during critical banking interactions. So, when it comes to choosing a live chat software for banks, you must focus on this service. 

5. Deep System Integration

Integrating deep systems with your existing banking systems can be another key consideration. The live chat software you choose should easily integrate with your current banking systems—like CRM, payment gateways, and customer data platforms. It ensures that your team has a 360-degree view of the customer and makes it easier to offer personalized support and fast resolutions.

6. Customization and Branding

Like other industries, branding is also crucial in banking. Your live chat should feel like an extension of your bank’s brand. You need to find software that allows you to customize the chat interface, language, and tone to match your brand identity. A cohesive experience helps reinforce customer trust and loyalty.

7. Ease of Use

Your customers and support staff should find the live chat software user-friendly and easy to use. Undoubtedly, a complicated interface can slow things down and frustrate both sides. So, you can select a platform with a clean, user-friendly design that makes it simple to start and manage conversations.

8. Cost-Effectiveness

Finally, it’s important to balance your budget with the features you need. Based on your budget for the tool you should find a solution that offers flexible pricing plans and matches your specific requirements. Always remember that the right live chat software can bring you a strong return on investment by enhancing customer experience and boosting retention.

9. Analytics and Reporting

When it comes to live chat software for banking reporting is a powerful thing to consider. A good live chat solution will provide you with in-depth analytics and reporting tools. You’ll want to track key performance metrics like response times, customer satisfaction rates, and chat volumes to continuously improve your service. These insights can help you refine your support strategy and better allocate resources.

5 Best Live Chat Software for Banking

1. REVE Chat

REVE Chat is an all-in-one omnichannel live chat platform designed to elevate customer support and engagement across websites, social media, messaging apps, and mobile platforms. With a strong focus on live chat, REVE Chat helps businesses offer personalized, real-time customer service, particularly in the banking and finance sectors.

Tech-forward financial institutions like the Bank of Scotia, Commercial Bank of Kuwait, Southeast Bank, Lanka Bangla Finance, and bKash trust REVE Chat to enhance customer communication, increase online conversions, and deliver real-time assistance. Our live chat platform, combined with co-browsing, video chat, and screen sharing, allows banks to assist customers in important processes like filling out loan applications, opening accounts, and more.

While REVE Chat includes an AI-powered chatbot to speed up responses, our priority is delivering personalized, and human-centric customer service in banking. The platform empowers businesses to offer high-quality, immediate support where it matters most.

Key Features

• Omnichannel Engagement: Manage customer interactions seamlessly across multiple platforms, including Facebook (Messenger & Comments) and Instagram (DM, Story Replies, Mentions & Comments), unifying customer communications into a single, easy-to-use platform.
• Security and Privacy: We prioritize data privacy and security through  SSL encryption and sensitive information masking to protect customer interactions. This commitment to safeguarding sensitive data ensures compliance with industry standards and builds trust, assuring customers that their information is handled with the utmost care.
• Proactive Customer Interaction: With features like auto triggers and proactive chat, businesses can engage customers at the right time, boosting conversions and improving overall customer satisfaction.
• Collaborative Support Tools: Advanced features like co-browsing, video chat, and screen sharing enable agents to assist customers directly in real time, improving issue resolution and enhancing customer experiences in banking.
• Smart Ticketing System: Convert customer chats into tickets for effective issue tracking and follow-up. This ensures no customer query is overlooked, streamlining your support operations.
• Detailed Analytics and Reporting: Access insightful reports that allow businesses to monitor performance, track customer interactions, and make data-driven improvements to service quality.
• Mobile Support: REVE Chat’s mobile apps ensure that your team can offer customer service anytime, anywhere, maintaining flexibility and responsiveness.

With a comprehensive suite of features, REVE Chat is the ultimate platform for businesses looking to provide exceptional customer service while maintaining a strong focus on privacy and security.

Get started for Free (No credit card required)

2. Intercom

Intercom is a popular name in live chat software in banking. It offers a comprehensive suite of tools for customer communication and engagement. It is designed to provide personalized customer support and marketing automation. Intercom is a powerful solution for banks looking to enhance their digital customer service. 

This platform supports live chat, messaging, and email to interact with customers through their preferred channels. Its in-depth analytics and reporting tools help banks gain insights into customer behavior and improve service delivery.

Key Features

• Connects with customers through real-time chat.
• AI-powered bots to automate common tasks and provide instant responses.
• Targeted communication and customer segmentation based on behavior and demographics.
• Customized bots that guide customers through specific processes, such as loan applications.
• Tracks customer interactions and agent performance to optimize service.

3. Zendesk Chat

Zendesk Chat is a well-established live chat solution that integrates hassle-free with the broader Zendesk customer service platform. It offers real-time chat capabilities for banks to provide instant customer support. 

Zendesk Chat is known for its ease of use and scalability, making it suitable for banks of all sizes. The platform offers advanced features such as chat routing, analytics, and automation. As a result, banks can efficiently manage customer interactions and improve service quality.

Key Features

• Instant support to customers via a user-friendly chat interface.
• Automatically route chats to the most appropriate agents based on predefined rules.
• Set up triggers to send targeted messages based on customer behavior.
• Hassle-free integrates with other Zendesk tools 
• Detailed reports on chat volume, response times, and customer satisfaction.

4. Zoho Desk

It is a powerful, cloud-based customer service platform that includes live chat as one of its core features. It is designed to help customer support agents deliver hassle-free customer support by integrating live chat with other communication channels such as email, phone, and social media. The platform’s ticketing system is particularly useful for tracking and managing customer inquiries.

Key Features

• Integrates live chat with email, phone, and social media.
• It can automate routine tasks and responses.
• Tracks and manages customer inquiries across all channels.
• Customizable dashboards for real-time monitoring of customer interactions.

5. Pure Chat

Pure Chat is a straightforward and easy-to-use live chat software for small and medium-sized businesses, including banks. It offers an easy-to-use interface that makes it simple for customer service teams to engage with clients in real-time.  Pure Chat is particularly known for its affordability and ease of setup for smaller banks or those new to live chat software. 

Key Features

• Engage with customers instantly through a simple and intuitive chat interface.
• Monitors website visitors in real time and initiates chats based on their behavior.
• Provides a complete history of customer interactions.
• Pure Chat customizes chat widgets to align with your brand’s visual identity.

Conclusion

Integrating live chat software in banking is a strategic move that addresses key challenges such as privacy concerns and the need for effective staff training and technology integration. 

Banks can enhance customer satisfaction, automate communication, and maintain a competitive edge in the increasingly digital financial landscape by adopting secure, compliant, and user-friendly live chat solutions. 

As the demand for instant, personalized service grows, live chat software will continue to play a crucial role in delivering exceptional customer experiences in the banking industry.

Frequently Asked Questions 

How does live chat software in banking improve customer retention?

Live chat software enhances customer retention by providing quick and convenient support. Besides, it addresses customer issues in real-time and offers personalized service, which helps build long-term relationships with clients.

What security measures should be in place when using live chat software in banking?

Banks should implement encryption, secure authentication processes, data masking, and regular audits. It helps to ensure customer data remains protected during live chat interactions.

Can live chat software in banking be integrated with other customer service tools?

Yes, live chat software can be integrated with CRM systems, email platforms, and other customer service tools. It provides a hassle-free experience and a comprehensive view of customer interactions.

How does live chat software in banking support multi-channel customer engagement?

Live chat software can be integrated with other communication channels like social media, email, and phone support to engage customers across multiple platforms in a consistent manner.

How can live chat software in banking enhance the onboarding process for new customers?

It can guide new customers through the onboarding process, providing instant support and information. This helps reduce friction and improves the overall customer experience.

How does live chat software in banking handle peak times or high chat volumes?

Live chat can handle peak times through automation features like chatbots, intelligent routing, and queue management. As a result, customers receive timely responses even during busy periods.

What are the roles of live chat for financial services?

It provides real-time, personalized customer support, improving issue resolution and enhancing client engagement. It also helps ensure secure, efficient communication for handling inquiries, transactions, and financial advice.