Do you even remember when you had to go to the counter to withdraw or transfer money? Most of us probably don’t. Since the first self-service ATMs appeared 50 years ago, banking has been through many changes.
With the industry focusing on customer experience goals, offering personalized banking interactions across channels – physical and virtual – has become the number one strategic priority. And an important part of this is to individualize your message as much as what you offer. Adapting to different cultures today is key to stay relevant in your customers’ mind, especially if your targeting international audiences.
On the other side of the coin, the availability of customer data has grown exponentially. And customers are aware of their data’s value, thus having greater expectations to what to get in return – the highest security is mandatory, as is the respect for their privacy. They’ll welcome nothing but hyper customized offers to their profile, habits and location.
These are just some of the changes, giving century-old banking institutions the opportunity to reimagine themselves – and to deliver trustworthy experiences that measure up. Explore seven trends driving today’s banking revolution:
#1 - Strategic shift from product-centric to customer-centric
#2 - Banking anytime, anywhere
#3 - Customer data is your goldmine – but only keeping it private will make you trustworthy
#4 – Going global? Then be prepared to adapt to your local markets!
#5 – Two become one: Offline as part of your online strategy
#6 - New financial players, business models and virtual currencies
#7 - Digital agility for greater impact
Banks can no longer delay to digitally operate and relate with their audiences with the same consistency and reliability they’ve always demonstrated offline. Turning to digital partners such as Acolad guarantees the data savvy talent, the right technology expertise and the highly specialized content services needed for this transformation.
One thing’s for sure: banking is no longer only about finances. Customer experience has become the main focus. Give your customers what they expect, create personal connections and strive to exceed expectations, daily. And reap the rewards: loyalty and growth.
To learn more about the current trends driving banking transformation, check our full ebook Customer experience in the financial sector: digital transformation playbook.