How-to Guide

Institutions financières : 6 façons d'améliorer leur expérience numérique

As businesses temporarily close physical storefronts, they’re left with the challenge to support and engage with customers digitally. For financial institutions like banks, insurance providers, and wealth management companies, the stakes are at an all-time high: today’s economic climate has impacted customers’ financial situations in entirely new ways, causing an urgent shift in their needs from providers.

When the only door to your business is a digital one, it’s even more crucial that the customer experience you’re providing not only meets what they would’ve had in person, but exceeds it by offering tools that support customers’ changing needs. A McKinsey report from April recommends banks focus on driving adoption of their digital platforms in the wake of COVID-19, citing that usage of these tools increases customer satisfaction and efficiency — two primary concerns of financial institutions today.

To help financial companies optimize their digital experience, here are six tactics we recommend:

1. Automate (and personalize) user experiences

Historically, financial institutions have invested in customer data to evaluate channel effectiveness — today, that is no longer enough. By leveraging data on customers’ interactions with your application (e.g. product usage data, sentiment, and feedback), you can provide a more personalized user experience and encourage behaviors that lead to success — both for the company and the customer.

This can be extremely powerful, for example when a bank is able to understand which actions in their platform lead to customer retention. In this case, the team might learn that when a new customer opens a checking account, if they deposit money within two days, set up online bill payments within 30 days, and order paper checks within 60 days, they will keep that customer 90 percent of the time. From there, the bank can set up automated in-app notifications and walkthroughs to guide new users to these key actions, and tailor messaging based on a customer’s account type, services they’ve purchased, and behavior in the application so far.

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