The Future of Banking Is Customer-Centric

Firas Ghunaim
December 13, 2021
The Future of Banking Is Customer-Centric

Banks are seeing a revival as financial services businesses strive to deliver a consistent experience across all channels—mobile, internet, and in-person.

Customers increasingly expect simplicity and speed in performing transactions, in real-time and without friction, regardless of where and on what platform they do so.

Customers must be guaranteed of having the same experience whether they are in the branch or using the bank's website or mobile app remotely and dealing with workers who may be working in-branch or remotely.

Become Customer-Centric

Customers today want omnichannel experiences, such as the option to start a loan application online and conclude it in-branch, all in one place.

Customers don't want to enter their personal information numerous times on a loan application, for example, thus speed and efficiency are critical in offering an omnichannel experience.

Enabling these transactions necessitates a digital-first focus on client interaction to support the work of financial services workers, who continue to be a vital component of the customer-centric service model and contribute to brand confidence.

Learn more about Sitech’s Software Managed Teams and how they can help your bank produce customer-driven digital products and services faster than your competitors.

Banking Customer Experience Design

Digital transactions and mobile-first banking experiences come at the forefront of the customer’s needs. Also, if they want their rare in-person experience to be as frictionless and seamless as possible.

Many solutions have been implemented and applied by banks around the world, all but replacing the traditional banking branch experience for customers. Such solutions include self-service kiosks that enable bank customers to fulfill routine and basic banking needs, whilst digital screens, devices, and tablets have become the interface from which customers can interact with the bank representatives for information.

Digital technologies may take user experience to higher levels and standards of convenience; however, most people surveyed in a recent study highlighted the importance of being treated as a human being - and not just as a ticket number on a platform.

Guide: Financial Digital Transformation Challenges in 2022

94% of Americans say that empathy from brands is more important than ever, according to the study “The Empathy Imperative: Consumer Perceptions On Brand Empathy Through a Pandemic.”.

Banking Customer Experience Technologies

Digital technologies are supposed to provide a smoother, easier, and more satisfying experience for users. In short, a convenient user experience.

Highest among the priorities that technologies must address is the speedy and secure processing of transactions taking place online. This requires the bank of the future to invest heavily in enhancing their IT infrastructure and support teams that will ensure a seamless experience and uptime of digital banking services without disruption.

Customers also stressed the importance of having support available 24/7 across multiple channels of communication. Integrating communication across channels such as chatbots, email, telephone, mobile app, etc. with a CRM will also contribute towards creating a more personalized customer experience going forward.

Analytics and knowledge-based applications can also provide bank employees with information about their customers quickly.


Employee Empowerment

COVID-19 has accelerated the need to transform the workplace for all industries and banking is no different. Dealing with a customer that requires your services 24/7 means that interaction must be open and available to employees across multiple devices and locations.

To provide the aforementioned secure and personalized experience to their customers, your employees need the relevant technologies and tools to access the critical data and information to fulfill their customers needs.

Need help accelerating your financial services digitization? Sitech is helping financial institutions deliver seamless digital financial experiences to their customers. Contact us today for a free consultation.

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