As more of our lives continue to shift to digitally based providers, direct banks are in a position to gain market share and mindshare by delivering around-the-clock access and products with attractive fee structures and interest rates.
“Return on experience” is now a useful measure for banks. The good news is that the tools for making the qualitative quantifiable already exist.
Banks that invest in their branch experiences and in marketing to support them consistently outperform competitors.
Chatbots can help banks automate customer interactions, especially when it comes to basic or routine tasks, like resetting a password for an online banking account or transferring funds between accounts.
Banks that embrace innovation and harness the power of data and new technology—while remaining focused on customer service basics—will be well-positioned for future growth and resilience.
What’s on the community bank roadmap for digital process improvement in 2022? On the latest episode of the ABA Banking Journal Podcast, Chris Bailey lifts the curtain on his bank’s investments in digital signature management, conversational capabilities and client business optimization.
High-service and high-performing banks should be able to and must meet customers where they want to be met, and this will help to grow deeper relationships.
Banks that layer “non-linear” or “adaptive” business models on top of a traditional, vertically integrated model could see additional annual growth rates of up to 3.8%—or $518 billion in revenue—by 2025, according to a new report by Accenture.
In the wake of COVID, which digital and branch management changes are with us for good?
Eighty-two percent of small businesses said they maintained or gained trust with their bank in 2020 amid the COVID-19 pandemic, and an even greater majority—85%—believe that their needs are being met by their current bank, according to a new survey from consulting firm West Monroe this week.