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.
Digital banking is no longer a nice-to-have customer channel: It’s an industry mainstay that – when applied to in-demand offerings, paired with a smart user experience and supported by well-informed contact center representatives – can translate into a competitive advantage.
Whether your team is in the early days of this transformation or in the optimization stages, Spinnaker has developed four helpful resources to guide your efforts in this unending journey:
These four tools could help your organization prioritize and effectively manage its digital transformation efforts. It’s a long journey with no clear end, but when your organization bite sizes its efforts to align with customer data, it can drive measurable cost savings and meet the growing needs of customers.
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.
Customer Channels & Operations Management, Business Strategy, Change Management 2 minute read
The Big Picture Digital transformations are designed to make things easier for customers and banks. In the process, however, companies often face unexpected hurdles. Using these moments to address emerging challenges is important, but there’s also much to gain from taking a step back – and, when necessary, leveraging an outsider’s eye and experience – to see if other meaningful opportunities have been overlooked.
Customer Channels & Operations Management, Data & Analytics, Risk Management & Regulatory Compliance 1 minute read
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.
Customer Channels & Operations Management, Change Management, Capability Delivery 1 minute read
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