The ongoing seismic shift toward digital technologies poses significant challenges for retail banks and credit unions. Financial institutions are accustomed to interacting with consumers in brick-and-mortar branch environments. These days, they must adapt to a new generation of consumers who manage their banking relationships in a mobile-first world. To cultivate strong relationships with consumers, retail banking providers must find new ways to deliver a positive experience.
But how do financial institutions deliver superior customer service when engagement is almost purely digital, and they no longer have an opportunity to “meet” the customer in-person?
https://thefinancialbrand.com/76468/customer-experience-digital-banking-consumers/
Each year technology makes the world more complex for people to understand. So, easy-to-use services for consumers are in particularly great demand. Due to the nature of the human mind: it is vital to perceive the world in a simple way. Any financial service can get an advantage by delivering a perfect user experience based on a simple interface.
https://www.finextra.com/blogposting/15262/ux-design-guide-7-steps-to-make-digital-banking-service-or-fintech-product-simple/
There has always been a tendency in banking to believe that 'more is better.' Unfortunately, in an increasingly complex world, consumers value simplicity. As opposed to just being 'less', banking needs to get rid of the unnecessary, without sacrificing delightful experiences. This guide should be shared throughout all banking organizations.
https://thefinancialbrand.com/71025/simplicity-digital-banking-guide-trends/
In recent years there has been growing a discussion on the ability of traditional businesses to adapt their services to the expectations of customers born after 1980. What should traditional businesses consider in order to offer a service that will meet younger generation requirements? Can the banks stay in their domain in the future, or will they be replaced by FinTech companies?
https://www.finextra.com/blogposting/15005/how-digital-banking-can-meet-young-customers-expectations-to-survive-in-the-age-of-disruption/
