The relationship that consumers hold with banks has largely been in person. Like the local doctor’s office, many look to the bank as a center of conversation, camaraderie, and commerce. If recent surveys hold however, digital transformation is set to change such long-held notions.
To understand just whether digital transformation is on the mind of financial executives, financial services software company Temenos surveyed their customers to get a feel of how expectations and priorities are changing. Among the results, they found that nearly three quarters of respondents were open to the idea of open banking with nearly a quarter more also stating a top priority in expanding digital channels. While core channels still remain the most important, the growing openness to expanding outward is a new trend.
With digital transformation in mind, this blog post will explore how financial institutions can further leverage digital experiences – including portals – in 2017, to further connect with their customers. Let us know what you think:
- Method #1: A Focus on Integration
With financial services no longer a standalone idea, the focus on integration including APIs is now louder than ever. Temenos found this to be true in their survey with 48% of respondents indicating they are ready for an API solution. As APIs become more wide ranging and available, consumers stand to benefit as they connect more of their regular financial needs with retailers and services back to where they house their finances. - Method #2: The Dawn of DevOps
Even in 2017, many financial institutions still only respond when something doesn’t work, rather than making continuous improvements. The arrival of DevOps should change this, forcing organizations to respond quickly to changes while updating their technologies to meet customer demand. Additionally, the draw of automation and lower overall operating costs should also be a game changer. - Method #3: Customer Portals
While numerous other organizations have adopted portals like IBM WebSphere to stay top of mind for customers, banks are still reliant on walk-ins and calls to customer service lines. The extension of brand and experience to portals not only creates a larger customer experience but also increases trust and likeability.
Learn More
Are you a financial institution looking to integrate digital experiences into your customer engagement? Speak with Perficient today by emailing us at sales@perficient.com to start a conversation around our expertise and download our guide, Leveraging Portals to Meet Rising Customer Expectations.
Learn more about our IBM practice here.
