The most innovative banks in the world

Instead of driving customers on the cheapest channel, the modern bank can use digital technology to offer a level of service previously reserved for its clients with higher profits.

Today, this is an imperative rather than an option: Banks are investing heavily through multiple channels to enhance their commitment to the customer and the experience of the same.

Taking signals from online retailers, Banks are increasing their websites with features such as custom pages and intuitive navigation, to enhance the customer experience. Traditional retailers are also working more in advisory centers, recommending users to use the self-service terminals to do everything.

From the transfer of money to depositing cash or checks. Mobile banking is a leap into online banking as banks use a strategy called “mobile-first,” which provides safer and easier-to-use bank payment services. But is that enough for banks to differentiate their products and services?

Frictionless Banking.

What is frictionless banking? It can occur at any point in an interaction with the customer, where there is an inertia or delay when trying to carry out the transactions. For example, make a long and heavy identification process, when a customer could quickly identify using biometrics. Friction can increase resistance and cause a customer to delay or cancel a transaction or, in the worst case scenario, lead to a decision to switch banks. It could also mean having to repeat the information you have already entered through a different channel.

Digital customer service.

Digital transformation is underway in the banking sector. Until recently, branch offices were considered the preferred method for face-to-face interactions and selling complex products. But that is changing rapidly. In today’s digitally connected and web-governed world, big data, mobility, social networks and smart devices, banks are looking increasingly to transform the customer experience as a key differentiator in the market. But how can you get closer to the customer in the era of distance banking?

In short, preventing a strategy focusing on the customer that spins around gaining valuable knowledge about the behavior and preferences of the same.

Intelligent Personal Budget.

The digital revolution is breaking down traditional bank barriers by bringing them closer to user preferences across all channels. But what could be the next level of customer service improved through multi-channel banking?

How can banks offer smarter, more interactive and highly personalized services to lead to deeper customer intimacy? One of the ways is a virtual assistant that take into account contextual information to attract customers, use ideas based on data to offer customized services, as well as property advisor who can make personal recommendations about investment and saving decisions.

Conclusion.

To sum up, the new banking uses digital intelligence to improve the experience in general banking, and employs mobile technology to complete other channels instead of replacing them.