Do you agree or disagree with the following statement?
“Improving the customer experience is one of the top priorities for all banks today.”
If you disagree, it might be time to change your mind.
Recent studies have shown that banks who invest in improving the customer experience end up improving their businesses across multiple fronts.
They get recommended nearly twice as much—and their revenue goes up nearly 2X as well.
Wondering how exactly you can create a differentiated digital banking experience for your customers? We’ll take you through how you can improve it easily in today’s blog.
What Banking Customers Want
The first place to begin, before you build out an entirely new digital banking experience, is to understand what your customers want from interactions with your bank.
It’s also important to understand that you aren’t just competing with the digital offering from other banks in your areas. One survey suggests that nearly three-quarters of people change what they expect for ALL their digital experiences, based on a good digital experience with just one.
That means if they get an excellent digital experience from their investing app, they’re going to start expecting that same excellent experience from their bank too.
When you need to level up, here’s what to assess first in the digital experience you provide.
1. Ease of Use
How easy is it for customers to access what they want, and take action when they’ve found it? Giving customers the ability to clearly see what they have with your bank, and then take action to contact a personal or business banker if they need to, can be the difference between assets lost or assets gained.
2. Comprehensive Views
Let’s face it: Requiring multiple logins is frustrating. A great digital experience in banking means giving customers a single login from which they can view all the assets they have with your bank (or even outside of it). Full financial views keep customers engaged with your bank’s digital experience, instead of looking for their information elsewhere.
The Wealth Access Digital Banking Initiative
We’ve created a Digital banking initiative designed to give enterprise firms the foundation they need to create complete, enriched financial views for their customers and prospects.
What’s that mean?
In simple terms, you get to display a customer’s entire relationship with your bank, all within a single view. Their retail + wealth + business + external assets can all be accessed from your bank’s digital portal.
We help your bank create an omnichannel digital experience, using Wealth Access as the behind-the-scenes data unification platform that ties all your enterprise applications and books and records together.
It’s non-invasive and open architecture, so we sit on top of your existing systems and unify customer data across any number of enterprise systems.
Here are just a few of the ways that unifying your data can enrich your customer’s digital banking experience:
- Improve data reliability by establishing direct bank data feeds
- Take control of your customer experience by consolidating your enterprise data into a single location for customer access
- Offer single-sign capabilities between your applications, so customers never have to remember more than one log-in
- Enrich your data with automatically categorized transactions that give your customers a consistent experience across your services
- Integrate your bank’s business lines to improve customer relationships and enhance your team’s ability to provide more complete support
And with the Wealth Access Catalyst program, you’ll get a dedicated support team to create your project timeline and give you a clear pathway forward in quickly transforming the digital banking experience you can provide for your customers.
Ready to See it for Yourself?
Read all about how First Citizens Bank unified their systems and used Wealth Access to create a single pane of glass experience for their customers.