Why banks can’t get out of the habit of not using the out-of-branch tools available when they are doing business in the branch? Why is that so hard? Why banks don't value the virtual branch, like the physical branch, and do not enable younger generations to become users of the financial institutions the way they like the best - via digital? These are only some of the questions that financial institutions must work on to get more customers who hold phones in their hands from the age of 2. It is time to innovate!
Notes:
💸 Customer Journey is providing the best insight into your service from a client's point of view.
00:51📱 Opening account in 15 minutes instead of 25: how about 5 minutes?
🤯 Employees in banks don't use the solutions and services that they make their customers use.
03:45⚠️ Younger generations have expectations about what an online onboarding experience should be: abandonment rates are too high.
05:29⏸️ Pause in the process is the reason for abandonment: allow electronic transfer to fund accounts.
6:55⚡ Stop comparing your institution with others but compare yourself with Neobanks.
08:12🤩 How to know if your online experience meets expectations.
08:51The article used:
https://thefinancialbrand.com/news/bank-onboarding/why-banks-need-to-fix-poor-digital-onboarding-experience-147074/
Episode 56
