Kbank runs senior call center to meet needs of aging population

Kbank is running a new call center exclusively for senior customers to improve their accessibility to the online lender’s services based on digital technology, the company said Tuesday.

The headquarters of Kbank in central Seoul / Courtesy of Kbank

It said the call center for older adults opened in early June, as they increasingly make up a larger share of customers in the asset management market amid longer life expectancy.

The bank said the number of senior customers is estimated to be 1.3 million, many of whom are still not accustomed to online customer service, and prefer phones and other offline channels.

Failure to serve their needs would mean missing a business opportunity in the long term, the company said.

“Against this backdrop, we’re proud to say that the call center is a timely, tailor-made service for customers aged 65 or older who may find digital consultations challenging,” Kbank said.

The call center operates from 9 a.m. to 6 p.m. daily, including weekends.

The customers are provided with a phone number to help consultants identify them when receiving a call and promptly respond to their requests.

With the phone number, a customer is also connected directly to a consultant without going through automated response system menus.

The consultants speak at a slower pace than usual for more efficient communication with the callers, the company said.

“We’re certain that the call center brings improved accessibility and convenience for customers, and broadly fulfills our social responsibility and strengthens customer management in the mid-to-long term.”

With regard to the asset management market, Kbank said that about 30 percent of inquiries from senior customers were related to savings and time deposit products.

That is more than double the overall average for customers of all age groups.

On the other hand, only 8 percent of senior customers’ inquiries were about issuing and using check cards, while another 15 percent were about loan eligibility.

“The statistical data suggests they are mainly interested in managing their assets, not spending, and based on that we’ll come up with a variety of services to support their needs,” Kbank said.