It’s a new year in the “Age of the Customer,” and the financial industry is seeing increasing consumer demand for digital banking experiences. With an eye on top retail banking trends for 2014, it’s a sure bet that mobile banking should be a key objective on your strategic agenda this year. Having anytime, anywhere access for managing basic banking needs will likely become a major driver of customer satisfaction and stronger, more profitable relationships.
To stay ahead of the competition, financial services companies need to deliver exceptional customer experiences that exceed expectations. It’s more than just offering the right products and services, and providing security and accuracy. Consumers want a banking experience that’s simple, quick, convenient, and available wherever they are. And as mobile technology evolves rapidly, customer expectations will evolve along with it, so now is the time to gear up.
“Simply having a mobile app will not be enough. Leaders will re-architect the relationships they have with customers using mobile to provide personalized offers and mine the data to further increase the effectiveness of the platform.”
– Steven Ramirez, CEO, Beyond the Arc
(Top 10 Retail Banking Trends and Predictions for 2014)
According to an article by financial industry expert Jim Marous, “Reinventing the financial services purchase funnel, the way people conduct daily banking, the delivery of insight, and the interaction between channels, the drive-to-digital will provide both opportunities and challenges for financial institutions of all sizes.”
Focusing on mobile can help you increase your business value by keeping customers engaged across all digital platforms, and meeting them at the point of experience. Mobile technology can also position your organization to capture actionable insights for improving customer service with more immediate responses and targeted offerings.