Micronotes.ai Logo
  • What We Do
  • How We Do It
  • Products
  • Who We Are
  • Blog
  • Request A Demo
  • Log In
Micronotes.ai Logo
  • What We Do
  • How We Do It
  • Products
  • Who We Are
  • Blog
  • Request A Demo
  • Log In
  • What We Do
  • How We Do It
  • Products
  • Who We Are
  • Blog
  • Request A Demo
  • Log In
Micronotes.ai Logo
  • What We Do
  • How We Do It
  • Products
  • Who We Are
  • Blog
  • Request A Demo
  • Log In
Blog
Home Blog Digital Services Are the Key to Banking Success
Blog

Digital Services Are the Key to Banking Success

micronotes_admin April 12, 2019 0 Comments

By Kevin Flanagan, Marketing Director, Micronotes

When is the last time you logged on to online or mobile banking? If the answer is more than a few days ago, then you’re not in on the trend.

Our partner Fiserv recently surveyed digital banking users in the UK (from both banks and “building societies,” or what we Yanks call credit unions) to measure their feelings about the convenience and ease-of-use of digital banking experiences. The gist of the findings is financial institutions that fail to deliver a user-friendly digital banking experience are at risk of losing customers.

If you work in banking and this comes as a surprise to you, you have my deepest sympathy. Thinking about the recent—and rapid—analog-to-digital transformations taking place all around us, whenever a digital alternative appears, it almost always proves incredibly popular. Imagine if email suddenly vanished and we had to resort to mailing letters to communicate. Then think how many fewer emails you’ve sent since the advent of texting.

The survey results are published in the research report Rising to Meet Customer Expectations.

As a company that provides a patented solution that enables bankers to engage with their digital banking users, Micronotes know how much consumers prefer digital banking to branch visits. Various studies show that the average person makes about three visits to a branch each year, vs. more than 170 digital banking logins. That’s what we marketers call a trend.

But not every banking institution is doing enough when it comes to offering digital banking services. And that’s not good for their long-term viability.

Here are a few of the key takeaways from the report about best practices institutions can employ to attract and—most importantly—retain customers/members:

  • Offer flexibility and control over where and when customers can access their accounts.
  • Provide a consistent experience across every channel.
  • Support customers to organize their financial goals and establish saving habits.
  • Leverage digital channels to cross-sell or upsell financial products and services.

That last bullet is no surprise to us here at Micronotes. Our clients are achieving tremendous results engaging with customers they rarely see.

If your institution isn’t successfully engaging with—and selling to—digital users, time may be running short to catch up with this fast-moving trend.

186
1255 Views
What Is Conversational Banking?April 19, 2019What Is Conversational Banking?Next

Related Posts

Blog

“Hey, Erica, Make Me an Offer”

By Kevin Flanagan, Marketing Director, Micronotes This week, Bank of America issued...

micronotes_admin May 31, 2019
Blog

Keeping Customers, But Losing Business

By Kevin Flanagan, Marketing Director, Micronotes Ron Shevlin, one of the most...

micronotes_admin May 3, 2019

Recent Posts

  • Dynamic Work Design for Deposit Retention: Turning “Exceptional Deposits” into Lasting Relationships
  • The Compliance Imperative in Data-Driven Financial Marketing
  • From Personalization Theory to Deposit Reality: Turning Life Events Into Loyalty
  • What Standard Chartered Taught Us About Speed—and How to Apply It to Loan Growth
  • Why Branches Still Matter — Even When Everyone Says They Don’t
Categories
  • AI 27
  • Auto Lending 3
  • Behavioral Economics 5
  • Big Data 18
  • Blog 16
  • Brand 1
  • Community Banking 23
  • Community Financial Institutions 9
  • Compliance 2
  • Consumer Loan Business 9
  • Credit Trends 2
  • CRM 2
  • Customer Retention 13
  • Deposits 30
  • Digital Engagement 8
  • Gen Y 2
  • GenZ 12
  • HELOC 9
  • Home Equity Loan Consolidation 9
  • Life Events 10
  • Loan Growth 15
  • Marketing Automation 16
  • Net Promoter Score 2
  • New Customer Acquisition 22
  • NEWS 1
  • NPS 1
  • Online Banking 6
  • Personalization 26
  • Prescreen Marketing 41
  • Research 1
  • Retention 9
  • ROI 2
  • Strategy 3
  • Sustainability 1
  • Uncategorized 2

Micronotes.ai Logo

What We Do
How We Do It
Products
Resources
Who We Are
Blog
Request a Demo
Free Growth Analysis
Log In

Privacy Policy | Copyright © 2024 Micronotes Inc. All Rights Reserved.