Banks Need to Invest in Support of Cross-Channel Integration
A growing trend in the banking industry concerns how banking customers are accessing and using bank services and products across multiple channels, and how banks are looking to present a consistent brand and service model across these channels as a way to improve overall customer user experience. This user experience, across mobile, in-store, and all channels in-between, should include consistent application of functionality, support, marketing, and brand. Most banks still consider the branch channel as its clients’ most popular channel but recognize that more customers are interacting via multiple channels on a consistent basis.
We believe more banks will identify this consistent user experience as an important component of their overall brand strategy and early adopters that are successful will differentiate themselves from the competition. There are multiple areas of opportunity that banks will need to evaluate their current capabilities in order to create this seamless experience:
- Thorough and consistent application of security and identity verification for multiple, faceless channels such as ATM, mobile, web, and call-centers.
- Consistent offer management across all channels to deliver timely and effective marketing campaigns to users that are appropriate for the channel and the customers’ needs within that channel.
- Quick adoption of technology in support of fast-evolving mobile channel.
- Integration across technology silos built along product lines.
Flexibility of technology systems will be paramount for banks to achieve a seamless and consistent multi-channel user experience. Banks need to invest in solutions that help overcome the challenges inherent to the growing demand for a seamless, multi-channel user experience while continuing to improve the banking experience for customers who still enjoy the in-branch experience.
Equifax can help clients solve technology challenges in supporting a multi-channel product strategy, including consistent delivery of information, better understanding of customers, and more effective and predictive analytics.
Want to learn more? Send us an e-mail.
This post was contributed by: Lee Grice.
Recommended For You
Financial institutions (banks, credit unions, etc.) can sideline disruption and achieve customer growth with better data utilization, according to a […]
Today’s consumers have many choices. Go to the grocery store or have meals delivered? Cable, satellite or streaming service? Drive […]
Technology Provides Faster, More Accurate Claim of Benefits The current benefit eligibility verification process is a daily burden for case […]
Does Segmentation Go Far Enough? Segmentation for customer acquisition is a mainstay of daily business for most financial services firms. […]