Online Lending: What do customers value the most?

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The vast majority of the customer reviews for Bamboo Loans talked about how pleased they were with how easy yet efficient their experience was with getting a loan from the service. This tells a lot about a general person’s expectations with the service they get when applying for loans: they want their service to be straight-forward, quick, and stress-free, but they also want efficiency.

Communication and a personalised experience are key

Customers who are looking to apply for an online loan want clear communication throughout the application process. Whether online or over the phone, the customer benefits from being given clear instructions about required information, charges, etcetera, because there is less complication to deal with when everything is presented up front and with clarity.

customer service loans

No one person is the same, so it is important to be able to give each customer a personalised experience so that they don’t feel isolated and so that their experience goes smoothly. When we think of technology replacing customer service we think about new technologies such chatbots. We can think of  specific examples where chatbots work perfectly in certain business cases but in general chatbots are inefficient and difficult to work with for many customers as they are programmed to simply repeat information the same way for every single customer. If customers have a unique situation or question about getting loans for themselves, a chatbot might not suffice because of its relatively limited information and communication techniques.

More than 2,000 Trustpilot reviews conclude that our customers value friendly and personalise  customer service that they receive when they are going through a loan application.

There should be a balance between human interaction and technology


While human interaction is vital for efficient customer service, customers in today’s age of advanced technology for the most part prefer to use technology for many situations, like applying for a loan online. They like it because it helps them accomplish tasks much quicker than if they were doing it manually, which would require tons of paperwork, and it fixes some areas where human interaction is more difficult. However, it is also important to focus the use of technology specifically in the right places so that human interaction with the customers is still in the equation.

On the other hand, we do believe in optimising our technology so that our online application process is seamless and fast. It is possible to go through a loan application for an unsecured personal loan online without the interaction of customer service and get a loan in several hours.

customer service loans

For efficient customer service, technology should be utilised in specific fields for quickness and efficiency in accomplishing a task, but it is still vital to provide the customers with clear communication and a personalised approach so that they can work through the service easily and with efficiency for satisfactory results. Here at Bamboo, we are proud to have the technology that supports the application process and the customer service that provide friendly and personalised service to get you the loan and make the process a pleasant one.

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