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Live Chat for Financial Services (7 Tools Reviewed)

Paweł Hałabuda

13 min read

Aug 12, 2024

As customers increasingly seek real-time assistance and immediate solutions to their queries, live chat has emerged as a crucial tool for financial institutions.

Unlike traditional support channels, best live chat software offers instant, efficient, and personalized communication, which is essential for addressing the complex needs of financial service clients and building strong customer relationships.

When choosing a live chat for financial services, it’s important to consider several critical features that ensure both compliance with stringent industry regulations and the delivery of superior customer experiences.

Think about including robust security measures, seamless integration with existing financial software, and comprehensive analytics for continuous improvement. A user-friendly interface and reliable customer support from the live chat provider also contribute to the overall effectiveness of the solution.

By the end of this guide, you will have a clear understanding of which live chat solution best suits your needs, enabling you to enhance customer experience.

Criteria for evaluation

Selecting the right live chat solution for financial services requires a careful assessment of various factors that ensure the tool not only meets industry standards but also enhances customer experience and operational efficiency.

Below are the key criteria used to evaluate the best live chat solutions for financial services:

• The live chat solution must adhere to industry-specific regulations such as GDPR, FINRA, and PCI DSS, ensuring robust data protection and privacy measures.
• An intuitive and user-friendly interface is crucial for both agents and customers, facilitating efficient and effective communication.
• Seamless integration with existing CRM systems, banking software, and other business applications is essential for streamlined operations and comprehensive customer relationship management.
• The importance of customer data in creating a unified platform for enhanced customer support cannot be overstated. It provides comprehensive insights and facilitates seamless interactions in banking and financial services.
• The ability to customize the chat interface to match the company’s branding, including logos, colors, and personalized chat workflows, is important for maintaining a consistent brand identity.
• Comprehensive analytics and reporting capabilities allow institutions to track performance metrics, monitor customer satisfaction, and make data-driven decisions to optimize their support strategies.
• Analyzing customer behavior is significant for improving response times and overall performance. Insights derived from metrics can inform strategies to enhance customer engagement and service delivery.
• Reliable customer support and extensive training resources from the live chat provider ensure that the tool can be effectively utilized and any issues promptly resolved.
• The pricing model should align with the institution’s budget while offering good value for the features and services provided, including considerations for total cost of ownership and scalability.

LiveChat ticks all the boxes

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Top live chat software every financial institution needs

Now that I’ve outlined the essential criteria for evaluation, let’s delve into the top live chat solutions specifically tailored for financial services.

Each of these solutions has been selected based on their ability to meet the unique needs of financial institutions, offering robust security, excellent user experience, seamless integration, and more.

1. LiveChat

LiveChat is a robust live chat solution designed to enhance customer support and engagement for financial services. Its intuitive interface, combined with powerful features and strong security measures, makes it an excellent choice for banks, investment firms, and other financial institutions seeking to provide real-time assistance to their clients.

Key features

• LiveChat prioritizes data protection with industry-standard encryption and adherence to regulations such as GDPR and PCI DSS, ensuring that sensitive financial information remains secure.
• The platform boasts an easy-to-use interface for both support agents and customers, facilitating smooth and efficient communication.
• LiveChat offers seamless integration with major CRM systems and financial software, allowing for streamlined operations and improved customer relationship management.
• The tool provides comprehensive analytics and reporting features, enabling financial institutions to monitor performance metrics, track customer satisfaction, and make data-driven decisions.
• Financial institutions can extensively customize LiveChat to align with their branding, including options for logos, colors, and personalized chat workflows.
• The customizable chat window enhances customer interactions by providing an accessible way for users to initiate conversations, receive personalized greetings, and get product recommendations, thereby improving the overall customer experience.

Pricing

LiveChat offers various pricing tiers based on the number of agents and features required. While the cost may be higher for smaller institutions, the value provided through its extensive features and robust security makes it a worthwhile investment for enhancing customer support in the financial sector.

LiveChat stands out as a versatile and secure solution for financial services, helping institutions deliver exceptional real-time customer support while maintaining the highest standards of data protection.

2. Intercom

Intercom is a versatile customer messaging platform that combines live chat, automation, and AI-powered chatbots to enhance customer engagement and support. It is particularly suited for financial services, offering a range of features that help financial institutions provide personalized, real-time assistance while streamlining their operations.

Key features

• Intercom leverages sophisticated automation and AI to handle routine inquiries, allowing human agents to focus on more complex issues. This improves efficiency and response times.
• The platform enables financial institutions to deliver tailored messages to different customer segments, enhancing personalization and engagement.
• Intercom provides personalized assistance through tailored messages and real-time support, fostering an interactive environment that offers real-time, personalized support during the sales process.
• Intercom integrates smoothly with a wide range of business tools, including CRM systems and marketing automation platforms, ensuring a unified approach to customer relationship management.
• Financial institutions can customize the chat interface to match their brand identity, providing a consistent customer experience.
• Intercom offers detailed analytics and reporting tools, allowing financial services to track key performance metrics, analyze customer interactions, and optimize their support strategies.

Pricing

Intercom offers flexible pricing plans with options for additional features and services. The cost varies based on the number of agents, automation needs, and selected features. While it may be on the higher end, the platform's advanced capabilities and customization options provide significant value for financial institutions seeking to enhance customer engagement and support.

3. Drift

Drift is a leading conversational marketing platform that focuses on enhancing customer interactions through live chat and AI-driven chatbots. Designed to facilitate real-time communication and improve customer engagement, Drift is particularly effective for financial services looking to drive sales, generate leads, and provide superior customer support.

Key features

• Drift’s primary strength lies in its ability to facilitate conversations that drive sales and marketing efforts. This includes features like lead qualification bots, meeting scheduling, and automated workflows.
• Drift utilizes AI to engage with customers, answer common questions, and guide them through the sales funnel. This helps financial institutions manage high volumes of inquiries efficiently.
• The tool seamlessly integrates with popular CRM systems and marketing automation tools, ensuring that customer interactions are captured and leveraged across platforms.
• The platform allows for extensive customization to align the chat interface with the institution’s branding, providing a consistent customer experience.
• Drift offers robust analytics and reporting capabilities, enabling financial institutions to track conversation outcomes, measure engagement, and optimize their marketing strategies.
• Drift helps improve customer satisfaction through real-time communication and efficient customer support, resolving issues quickly and enhancing overall engagement.

Pricing

Drift operates on a subscription-based pricing model, with various plans that cater to different business sizes and needs. The cost is determined by the number of agents, automation capabilities, and additional features required. While the platform can be more expensive, its advanced capabilities in driving sales and engagement offer substantial value for financial institutions looking to enhance their customer interactions.

4. Zendesk Chat

Zendesk Chat is a powerful live chat solution that is part of the comprehensive Zendesk Suite. It is designed to provide real-time customer support and enhance engagement, making it an excellent choice for financial services. Its seamless integration with other Zendesk products and robust feature set makes it a versatile tool for managing customer interactions.

Key features

• Zendesk Chat allows financial institutions to provide immediate assistance to their customers, enhancing the overall support experience.
• The chat tool integrates seamlessly with Zendesk Support and other Zendesk products, providing a unified platform for customer service and support operations.
• Financial institutions can customize the chat widget to match their brand identity, ensuring a consistent look and feel across all customer touchpoints.
• Zendesk Chat offers comprehensive analytics and reporting features, allowing institutions to track chat volumes, response times, and customer satisfaction metrics.
• The tool enables proactive chat capabilities, allowing support teams to engage with visitors based on predefined triggers, such as time spent on a page or specific actions taken.
• In addition to live chat, Zendesk Chat supports interactions across multiple channels, including email, social media, and phone, providing a holistic view of customer interactions.
• Zendesk Chat functions as a comprehensive live chat system that enhances customer service and builds trust. It allows for personalized interactions, leading to tailored recommendations based on customer preferences and past inquiries. Its integration with e-commerce platforms improves customer experience and drives sales.

Pricing

Zendesk Chat offers multiple pricing plans based on the number of agents and the features required. The plans range from basic options suitable for smaller teams to more advanced options that cater to larger institutions with complex support needs. While pricing may be higher for smaller financial institutions, the value provided through its integration capabilities and advanced features justifies the investment.

5. Freshchat

Freshchat, a product of Freshworks, is a modern messaging software designed to help businesses engage with customers through various channels, including websites, mobile apps, and social media. It is particularly suited for financial services due to its robust feature set, which includes AI-driven chatbots, comprehensive reporting, and seamless integrations with other business tools.

Key features

• Freshchat enables financial institutions to connect with customers across multiple channels, including web, mobile, and social media platforms, ensuring a consistent and seamless customer experience.
• The platform leverages AI to provide instant responses to common customer inquiries, reducing the workload on human agents and improving response times.
• Freshchat integrates smoothly with a wide range of CRM systems, helpdesk software, and other business applications, providing a unified approach to customer relationship management.
• The tool offers detailed analytics and reporting features, allowing financial institutions to track key performance metrics, monitor agent productivity, and gain insights into customer interactions.
• Freshchat provides extensive customization options, enabling financial institutions to tailor the chat interface to match their branding and deliver a personalized customer experience.
• The platform supports proactive messaging, allowing financial services to engage with website visitors based on specific triggers, such as time spent on a page or particular actions taken.
• Freshchat integrates with a financial services website to provide a seamless customer experience by offering personalized features like live chat. This integration enhances user experience, provides tailored assistance, and helps convert leads into customers through interactive support.

Pricing

Freshchat offers several pricing plans to accommodate different business needs and sizes. A free plan includes basic features like live chat and chatbot capabilities, suitable for small teams or trials. Paid options start with $15 per agent/month.

6. Olark

Olark is a straightforward and user-friendly live chat solution designed to help businesses engage with their customers in real time. Its simplicity, combined with powerful customization options and robust features, makes it a great choice for financial services looking to enhance their customer support without the complexity of more advanced systems.

Key features

• Olark provides real-time chat capabilities, allowing financial institutions to quickly and efficiently address customer inquiries.
• The platform offers extensive customization options, enabling financial institutions to tailor the chat widget to match their branding, including colors, logos, and custom messages.
• Olark supports automated messages, allowing institutions to proactively engage with website visitors based on predefined triggers.
• The tool automatically saves chat transcripts, making it easy for agents to review past conversations and for managers to analyze support interactions.
• Olark integrates with various CRM systems, helpdesk software, and other business applications, providing a seamless customer support experience.
• The platform offers basic analytics and reporting features, allowing institutions to track chat volumes, response times, and customer satisfaction metrics.
• Olark provides detailed insights about website visitors, such as their location, pages viewed, and time spent on the site, helping agents personalize their interactions.

Pricing

Olark offers straightforward pricing plans based on the number of agents and features required. Paid plans start with $29 per agent/month and include all core features, unlimited messaging, customizable chat widget, and access to integrations.

7. Pure Chat

Pure Chat is a user-friendly live chat solution designed to help businesses of all sizes engage with their customers in real time. It is particularly well-suited for financial services looking for an easy-to-implement, cost-effective chat tool that still offers robust features and customization options.

Key features

• Pure Chat allows financial institutions to provide immediate assistance to customers, improving satisfaction and resolving issues quickly.
• The platform offers extensive customization options, enabling financial institutions to tailor the chat widget to match their branding, including colors, logos, and custom greetings.
• Pure Chat includes visitor tracking features that allow support teams to see who is on their website, where they are located, and which pages they are viewing, helping agents to engage more effectively.
• The tool automatically saves chat transcripts, making it easy for agents to review past conversations and for managers to analyze support interactions.
• Pure Chat offers mobile apps for iOS and Android, allowing agents to chat with customers on the go and ensuring that support is always available.
• The platform integrates with a variety of CRM systems, email marketing tools, and other business applications, providing a seamless customer support experience.
• Pure Chat supports video chat to enhance customer interactions, providing personalized assistance and improving trust through visual engagement during online banking experiences and co-browsing scenarios.

Pricing

A free plan includes unlimited chats, customizable chat widget, and basic visitor tracking. Suitable for small businesses or teams just getting started with live chat. Pro subscription is $39 per month (billed annually) and offers advanced features like unlimited chat history, real-time analytics, visitor tracking, and integrations with other business tools. Designed for growing businesses needing more robust capabilities.

Choose LiveChat for your financial services websites

Enhance your customer support and engagement with LiveChat, the premier live chat solution tailored for financial services.

With robust security features, seamless integration with your existing systems, and extensive customization options, LiveChat ensures that your institution meets regulatory standards while delivering exceptional real-time customer support. LiveChat also integrates with Apple Business Chat to enhance customer engagement and facilitate communication.

Don’t settle for less—choose LiveChat to provide your clients with the efficient, secure, and personalized service they deserve.

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