Let me ask you a question: How do you think your customers view your bank? As a group of individual channels? Or as a single brand, made up of touchpoints and experiences?
Here’s the truth: Your customers don’t care about the channel. They’re viewing your financial institution in the aggregate—through their entire, end-to-end experiences with your brand. One bad experience in one individual channel will color their whole perspective, and one really amazing customer experience will linger with them long after it takes place.
Your touchpoints are key: every one, every time, everywhere, must help foster your consumers’ relationships with your organization. You can offer them cutting-edge mobile experiences, but if the link to the physical bank services is missing or full of friction, the ecosystem is broken. Likewise, if they can conduct their transactions seamlessly through self-service, but when they come into your branch they don’t feel like they’re getting a personalized, knowledgeable interaction with your staff, all the work you did to enhance your self-service network has been a waste.
Customers pick their interaction point of choice. They will start where it’s most convenient to them, and expect to continue the same request on any other channel. For example, when someone starts the journey of buying a home, first they might search online for mortgages and compare them (so they are already potentially engaging with your bank’s website). Now when they enter the branch for final advice, they expect you to know already what they are interested in. That customer data should be carried across channels and made available to the bank employee, so they are prepared to offer solid, expert advice. During that interaction, your staff can offer other products related to the mortgage, like insurance and other home services.
Each touchpoint is important, but for consumers, the E2E journey is key.
We explored the need to transition from a transactional perspective to a customer-journey-based strategy in our new whitepaper, “The Critical Change You Need to Make to Your Customer Engagement Strategy.” The paper is full of insights that came directly from bankers around the globe, including real-world examples of banks that are embracing the customer-journey model of banking transformation:
- BPI is using AI technology to implement one personalized communication feed seamlessly over all channels.
- Tatra Bank has built a fully digital, automated onboarding solution.
- Emirates NBD developed the “EasyHub,” digital kiosks with video teller capabilities.
- BBVA completely overhauled their approach to digital, turning their online channels into sales enablers and driving over 50% of new sales through digital.
These banks have faced a critical new reality: It’s not about the channel anymore. It’s about how your brand makes them feel.
Read about those innovations and more, plus watch presentations of more than a dozen banking executives describing how they’re tackling the challenges and opportunities of our digitally enabled modern banking environment. Download your copy now:
Will your current strategic roadmap get you where you want to be in five years? Talk to our experts today.