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BANKING CUSTOMER LOYALTY: 5 THING YOU'RE FORGETTING TO DO

Banking customer loyalty: 5 thing you’re forgetting to do

Nowadays, consumers rely almost exclusively on digital channels to manage their finances, conduct financial service research, and submit applications for new financial services. By enhancing crucial points in the customer’s digital banking experience that boost user 

In this post, SMARTOSC Fintech will outline 5 ways you’re overlooking to build banking customer loyalty.

Simplify account opening

Visitors to the website may make selections more quickly without feeling pressured by streamlining the account research and application stages.

To make opening a bank account easier:

  • Give table-formatted information on product comparisons. Display similar information prominently, such as the APR or mortgage rate.
  • Streamline your mobile device. Consumers are becoming more at ease using mobile devices to provide financial information.  
  • Customers should be guided throughout the application procedure. To create expectations and reduce tiredness, outline the stages or offer visual clues, such as a progress bar.
  • Give users the option to store and return to applications later. While submitting an online account application, people are frequently stopped or realize they need to locate the relevant data.

Fine-tune your communication

BANKING CUSTOMER LOYALTY: 5 THING YOU'RE FORGETTING TO DO

Particularly when it comes to handling funds, timing is important. Increase banking customer loyalty by delivering transparency through alerts that give them the power to take charge of their money and make decisions they are happy with.  

To increase communication and trust:


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  • Provide warnings about circumstances that might have harmful results (e.g. low balance, dropped credit score).  
  • Keep in mind privacy and security issues. Maintain high-level alert material (such as “withdrawal exceeding $100”) and display the specific details less clearly, maybe behind a log-in.
  • Give consumers power. Give them the option to alter choices like alert delivery frequency and platform.

Make payments painless

Consumers are aware that their ability to fulfill their obligations to pay completely, quickly, and reliably determines how creditworthy banking customer loyalty is. Many customers’ main financial concerns are loan, mortgages, and credit card obligations. As are typical home expenses.  

To (somewhat) ease the agony of payments:

  • Contextualize your payment reminders. Many customers have trouble paying their payments on time because of their tight financial flow.  
  • Create distinct payment messages. To get people’s attention right away, use splash displays rather than embedded messaging.  

Aggregate to add value

Customers desire tools to make smarter financial decisions, less fuss, and quick access to information. Due to the fact that banking customer loyalty into their bank accounts more frequently than any other financial account, banks are in a unique position to meet this requirement. assist customers in seeing their full financial picture.

BANKING CUSTOMER LOYALTY: 5 THING YOU'RE FORGETTING TO DO

Adding value through aggregation:

  • Make the primary banking experience for each consumer a one-stop shop for their money.  
  • Give consumers educational financial management tools and visuals that improve their understanding of financial data.
  • Accounts for customers should incorporate credit scores. The majority of people can grasp a credit score with little to no explanation. 

Upgrade automation and personalization

The digital experience platform ( DXP )

The focus rapidly expanded beyond merely content, and today’s e-commerce companies seek to share any kind of asset, or collection of assets, across all digital touchpoints, including websites, in-store displays, billboards, kiosks, customer portals, and e-commerce platforms.

It is now obvious that the digital experience platform ( DXP ) is essential to increasing banking customer loyalty after an acquisition rather than merely a means of bringing customers in the door. The digital journey has grown, and many departments are using more back-end software to manage their portion of it.

The customer data platform (CDP)

As more businesses adopt a data-driven strategy, they are discovering that consumers frequently often have unexpected, customer journeys. It’s not uncommon for new customer journeys, packaging, or even new product offers to be inspired by emerging patterns in the routes your customers travel.

A trustworthy customer data platform (CDP) can assist you in getting started once you’re prepared to start mapping the customer journey. A unified, single customer view (SCV) of your customers is necessary for effective customer mapping, and the right CDP will assist you in achieving this goal.

Building banking customer loyalty through seamless digital interactions is a certain way to increase visitor satisfaction. Additionally, devoted bank clients spend more money, recommend the bank to others, and demand less maintenance. If you are finding a DXP or CDP for your business, please contact us to have detailed information. 

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