Gone are the days of customers choosing the one bank "for life”. Customers are now more likely than ever before to switch providers – and digital accessibility has made this all the easier.
To remain competitive and relevant, traditional banking mindsets are starting to shift to be more digitally-savvy and customer-focused. By building partnerships with specialists in Customer Experience and building digital pathways into existing customer experience journeys, traditional banks are gaining back their competitive edge over rivals.
The importance of the omnichannel experience
"...trends show that providing a digital-only approach in banking fails to take into account the nuances around context and journeys, and risks alienating customers."
Whilst customers utilise digital services to do their day-to-day banking, they prefer the security of a traditional face-to-face interaction when it comes to processes that are deemed of higher importance.
What are the big banks doing to keep ahead of their competition?