Digital Banking Trends That May Shape 2016
The results of a recent study have been compiled in 2016 Digital Banking Trends & Predictions and outline the top ten likely trends for 2016. Improving the customer journey, ‘Optichannel’ delivery, and harnessing modern technology are all trends that can influence banks and other financial institutions throughout the year.
The financial industry, technology, and customer demands are changing so rapidly that status quo is surely becoming a thing of the past. Banks, investment firms, and other financial institutions need to evolve with the changing times or risk becoming obsolete. The banking trends highlighted in “The Most Comprehensive Report of Trends in The Banking Industry,” posted by Jim Marous on TheFinancialBrand.com, could influence your strategic goals for the year. Here’s two trends you may want to follow:
- Improve the customer experience: Banks waiting to address customers as they walk into a branch are already at least one step behind with making a positive impression. Customers shop online for information about the products or services that you offer and may even pursue online services before stepping foot into a branch. You don’t have much time to capture the attention of a prospect and turn that interest into a sale. Each touchpoint, whether online or in person, is a chance to improve the customer experience and strengthen relationships at each point in their journey.
- Optichannel service: In this digital era, customers have never been more connected to the internet through smartphones and tablets. These ‘hyper-connected’ customers expect a seamless experience whether they are banking online, through apps or websites, or in person. Sales and customer services must be consistent and strong on each channel that the customer uses.
Banks and other financial institutions can reach more prospects, build stronger customer relationships, and improve business operations by replacing outdated technology with more modern solutions. A robust enterprise resource planning (ERP) solution can be integrated with a customer relationship management (CRM) solution and used to streamline internal operations while learning more about your customers. Determining how to engage customers more effectively and improve the customer journey can lead to long term loyalty. Contact AKA Enterprise Solutions to learn how you can capitalize on banking trends and satisfy customers by optimizing your technology.