Over two-thirds of account holders use their mobile banking app as the primary way they access their accounts, pay bills, etc. It’s no wonder, then, that ove...
Over two-thirds of account holders use their mobile banking app as the primary way they access their accounts, pay bills, etc. It’s no wonder, then, that ove...
Let's face reality. Customers want what they want, when they want it and how they want it. In this n...
Most financial institutions understand the power of digital. The more pressing question, though, is how an organization brings all the components together to turn digital transformation into reality.
The digital banking customer experience improved dramatically in the 23 years since the launch of the first internet-only bank, Security First Network Bank. While its lobby metaphor was creative, it was a clunky experience back in the dial-up Internet days. These days, banks and credit unions have beautiful responsive websites with a clear path to the login …
The major turning point when digital banking transactions outstripped branch-based transactions has already passed. A much bigger milestone will be the point at which more consumers use digital-only providers as their primary financial institution than use traditional banks and credit unions. That day may be closer than many think. Impossible? New data show that only …
Digital transformation is growing more pervasive in every banking organization, moving beyond “projects” to organization-wide initiatives involving technology, product development, business models and culture. Budgets are increasing as organizations are finally updating legacy systems and ownership of the process is moving up the organization structure. While the potential benefits of digital technologies are well documented …
Innovation ranks higher than ever in banking. The majority of financial institutions place it close to the top of their digital transformation strategies. Many teams understand innovation as a project or task, but it’s actually the way to make customers’ lives better. While prioritizing innovation is certainly prevalent at most financial institutions, actually fostering innovation […]
Functionality is the foundation, but it won't differentiate your institution. Four other user experience elements are required.
The key to digital banking survival will be the ability to transform to a new digital reality with a foundation of data and analytics.
Banks have centralized data and this is the reason behind all the delays.
To become true digital banks, financial institutions can take several small, but critical, steps that will have a large impact on revenue, costs and customer satisfaction.
Financial institutions can't leverage new technologies and deliver a killer experience without the right person to shepherd their digital transformation strategy.
Efficient and seamless digital transactions are not the goal, but the starting point for personalized banking, including branch experiences.
Chatbots may one day dominate CX, but for now these centers are essential for both sales and service as branch interactions trend lower.
One trait is: They don't "embrace failure," they embrace learning. All five traits flow from using a circular versus linear development process.
Digital tools have changed the face of financial inclusion across the global south. Instead of going purely digital, one legacy micro-finance bank is betting that face-to-face relationships will still be core to success in banking in the future.
Research has suggested that customers who rely entirely on digital banking channels are less satisfied than those who also use branches.
Banks need to follow in the footsteps of the creator of the PIN, striking a fine balance between security and customer experience when it comes to onboarding new customers. After all, a little bit of friction is a good thing
Ideal Credit Union launched a digital banking platform designed to enhance security and offer expanded features and functionality, including personalization, customizable notifications, touch ID and face recognition, and more.
In a survey of banked customers, 70% say that they want to be able to connect with their bank both offline and online.