When was the last time you set foot in a bank? If you’re like most Americans, you’ve completed many transactions since you actually stepped up to those marble countertops or used one of those pens they have attached to a chain. With the convenience of online and mobile banking for making payments, transferring funds or monitoring account balances, consumers more often than not are going digital for all of their banking needs. According to a recent Harris Interactive survey commissioned by Tealeaf, more than two-thirds of online adults in the U.S. regularly use online banking to conduct financial transactions, and nearly 60 percent have used mobile banking offerings.
Despite its rise in popularity, mobile commerce isn’t always as smooth as it could be. In fact, 84 percent of mobile customers say they have experienced struggles that prevented them from completing their transactions. These negative experiences are not only frustrating, but time-wasting for busy consumers.
In the banking industry, access to online and mobile banking is high on the list of customer demands, especially among Millennials—the largest American generation since Baby Boomers. So it’s more important than ever for banks to invest in technology to ensure that the online customer experience they provide is on par with the personalized service delivered in-branch.
Here are a few suggestions on how to go about achieving this goal:
By implementing a customer experience strategy, banks can correct website glitches that would otherwise damage customer satisfaction and impact the company’s bottom line. Improving customer experience allows banks to refine their web presence and stay competitive in an extremely saturated market. By providing a virtually flawless experience to its customers, financial services firms can give themselves a competitive edge. Most of the best financial services firms are already managing customer experience. In fact, eight of the top 10 U.S. banks are using Tealeaf to do so.
As demand for access to online banking continues to grow and more customers rely on smartphones for managing their finances, banks and other financial service companies would do well to ensure that these transactions are easy to perform and that the cross-channel (mobile, web, call center) customer experience is as seamless as possible.