The financial services industry has been significantly impacted by the increasing use of technology from smartphones to wearables. This transformation in methods of transacting has enabled more personalized engagement, allowing customers to use multiple channels simultaneously to engage in seamless, multi-dimensional banking. This has also increased both the potential and complexity of creating a positive customer experience.
Unfortunately, the objective of delivering a positive customer experience has been secondary to other bank priorities, resulting in a transactional banking relationship for the customer. For financial organizations to change this dynamic, and meet the evolving needs of today’s customers, there must be a move from cost reduction to customer experience enhancement.
Our global research of more than 250 banks and credit unions was intended to better understand the ‘CX maturity’ of financial institutions and to provide a benchmark for future strategies. We would like to thank Deluxe Corp
, who sponsored this year’s report development and distribution. Their partnership and commitment to improving customer experiences for financial institutions enabled us to collect insights never provided in the past.
The 85-page Digital Banking Report, Improving the Customer Experience in Banking
provides an unprecedented look into the future of CX in banking, including the improvement of the customer journey, use of advanced analytics, improving the engagement on digital channels and how your peers are doing in the delivery of an improved customer experience.