As we near the one-year mark of pandemic living, a big takeaway is the consumer lean-in on digital channels that saw them pushing through psychological barriers that felt insurmountable pre-COVID-19. From seeing a doctor to restocking the refrigerator, across generational lines, there’s increasing comfort in the few keystrokes necessary to handle the day’s tasks online.
But will your bank be able to sustain its digital transformation momentum when comfortable, traditional channels become available again?
If you continue doing exactly what you’re doing today, the short answer is no. Banks can’t afford to lose the great strides they’ve made so far. That’s why we’re hosting our latest webinar, “Maintaining Your Digital Transformation Momentum in 2021: How to Get It Right for Customers and Employees.”
During the 45-minute session, hosted by the American Bankers Association’s Shelly Loftin, we’ll talk about the importance of making this an enterprise initiative (and include tips for doing so) and provide tactics for establishing priorities to help bite-size your efforts. We’ll also point out common roadblocks in digital transformation exercises – particularly those related to supporting frontline workers – to help bank leaders sidestep both strategic and executional barriers standing in their way.
The webinar is scheduled for Tuesday, January 26, 2021, at noon ET. Our panel will feature leading-edge insights from:
Rick Jaros, principal of Critical Initiative Delivery at Spinnaker and a proven veteran in deploying effective business strategies, digital integration and operational improvement at some of the nation’s biggest banksJohn Findlay, founder of Launchfire, a leading digital engagement agency established in 1999, and LemonadeLXP, its sister implementation platform
It’s never been more important for banks to get this right, particularly as they face growing profitability challenges in a low-interest-rate environment, expected increases in regulatory demands, and operational challenges associated with implementing enterprise transformation with a remote workforce – not to mention economic recovery in the wake of the pandemic.
This might not be an easy choice for banks, but the right processes and understanding of key issues will help you pursue the right strategy for your institution.
“Maintaining Your Digital Transformation Momentum in 2021: How to Get It Right for Customers and Employees” will begin at noon ET on Tuesday, January 26. To register for the free event, click here.
The Big Picture For years, financial institutions have been prodding their customers to take care of more of their banking tasks online. After all, digital experiences offer customers with the ease of handling routine tasks such as depositing checks and transferring money between accounts whenever and wherever they want. For banks, creating end-to-end digital channels offered the potential to generate savings, but only if customers went online and consequently retired their branch and telephone usage patterns. Then came the coronavirus pandemic – which created the perfect opportunity for banks to broaden their digital transformation. And customers have never been more ready to bank online.
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While banks have been attempting to migrate customers to digital channels for more than a decade, the COVID-19 pandemic has been the biggest (and most effective) driver for this consumer behavioral shift. But as banks ready themselves for a post-pandemic future, a recent Credit Karma/Qualtrics survey finds that even among staunch pre-pandemic, in-person bank customers, many plan to continue banking digitally.
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