From banking and investments to credit and insurance, customers seek financial services organizations they can trust to prioritize their best interests when making crucial financial decisions.

Building customer trust is more important than ever. Research indicates that about 8%-10% of customers open and close accounts each month. However, following several high-profile bank failures in 2023, approximately 15%-20% of banks could not avoid churn rate.

Like any good relationship, trust in financial services requires effective listening and two-way communication. This is essential for nurturing and maintaining high-value relationships between financial service providers and their customers.

Despite many financial services organizations launching voice of the customer (VOC) programs to enhance listening, they often fall short in a critical area of their customer experience (CX) strategy: "closing the loop" with customers.

What is a Closed-Loop Process?

A closed-loop process involves taking meaningful action based on customer feedback—transforming insights into impact. It addresses needs, improves operations and customer experiences, and promotes continuous improvement.

There are two main types:

Individual Closed-Loop: Following up with a customer to resolve dissatisfaction, answer questions, or address issues.

Systemic Closed-Loop: Using aggregated customer feedback to identify and address enterprise-wide opportunities for operational improvements and better CX.

Both types of closed-loop processes can be implemented using advanced VOC solutions that automate gathering and analyzing customer feedback and orchestrating corrective actions at scale within a unified platform.

TC&C's Closed-Loop Process Solution: Safeguarding Financial Institutions

At TC&C, we recognize the growing challenges financial institutions face in combating identity fraud, including the increasing sophistication of deepfake technology. Fraudsters are using advanced audio and video mimicking skills to exploit information stolen during remote authentication processes and remote banking, putting assets at significant risk.

Our closed-loop process solution offers robust protection against these emerging threats. Central to our solution is our compliance recorder, CARIN, which provides comprehensive recording and monitoring capabilities. However, CARIN's power extends far beyond basic recording:

Advanced Reporting and Alerting Features: CARIN offers automated reporting and alerting functionalities via email and within the CARIN system. This includes automated call flagging, ensuring that suspicious activities are promptly identified and addressed.

CARIN Terror Alert Functionality: This feature enhances security by flagging calls that exhibit characteristics of potential threats, enabling proactive measures to safeguard assets and customer information.

CARIN Deepfake Guard: Our cutting-edge Deepfake Guard technology can detect in real-time whether a caller is a real human being or a generated voice or video deepfake. This real-time detection is crucial in preventing fraudsters from succeeding in their deceptive attempts, thereby protecting both financial institutions and their customers.


By integrating TC&C's closed-loop process solution, financial institutions can significantly enhance their security measures against identity fraud and deepfake threats. Our solution not only improves operational efficiencies and customer experience but also provides peace of mind by ensuring that every interaction is secure and trustworthy.

As the financial services landscape continues to evolve, maintaining customer trust through effective communication and robust security measures will be key to fostering loyalty and long-term success. With TC&C's advanced compliance solutions, financial institutions can stay ahead of emerging threats and deliver exceptional value to their customers.

Partner with TC&C today to fortify your financial institution's security and elevate your customer experience—because your customers deserve the best protection and service.