Customers expect every activity to be as frictionless as searching on Google or buying those new sunglasses on Amazon — and their expectations extend to financial services. Innovation within the industry teaches customers to expect hyper-personalized experiences with insights, recommendations and offers tailored specifically to them.
Technology advancements and the proliferation of consumer apps have created a new customer experience paradigm, where customers expect interactions to be simple, intuitive, and seamlessly connected across physical and digital environments. In banking, the branch is no longer at the center of customer engagement — the “center” is the consumer themselves.
AI holds vast promises for banks and credit unions. However, what many institutions fail to recognize is that AI doesn’t simply come as a piece of technology to be integrated, but rather requires thorough planning to ensure organizations can leverage its full impact.
Competition for share of wallet is only intensifying in the digital age. It’s not enough to offer great benefits and a low introductory APR — cardholders demand seamless online and mobile experiences. Luckily, there are a few ways banks can step up to meet and exceed customer expectations.
The North American financial industry is exploring open banking, which began in the UK in 2018 as a set of regulations that requires banks to allow their customers to easily and securely share data with third parties such as other financial institutions or fintech companies.
Customer expectations are changing and banks have no choice but to evolve alongside or risk losing relevance. The key to doing so is leveraging the data on hand to create robust customer journeys. Here’s how…
Technology advancements and the proliferation of consumer apps have created a new customer experience paradigm, where customers expect interactions to be simple, intuitive, and seamlessly connected across physical and digital environments. In banking, the branch is no longer at the center of customer engagement — the “center” is the consumer themselves.
For as many barriers banks face with data there are solutions. Embedding it throughout your organization is key, and here’s how you can…
Banks have a lot of data about their customers that’s going unused. Those that are tapping into big data’s power are transforming their bank’s business model.
One thing is for certain: the financial sector must undergo digital transformation. But that’s only half of it. Here’s everything you need to know, from benefits to challenges, before you take on the task at hand.
