While most organizations have a solid digital plan in place, many find it hard to separate themselves from the crowd. Digital and omni-channel banking is certainly a must-have, but as a major part of your business, it should serve to help your brand and organization stand out and impress. Consider the following to make sure your digital transformation goes above and beyond for your organization.
Establish Your Digital Leadership
Any successful financial institution should have a formalized digital leadership team whose sole focus is on your organization’s digital presence. Increasing numbers of interactions and touchpoints occur in a digital space, and it’s important these moments are viewed as meaningful interactions with your brand. Functionality, innovation and customer centricity should all be core tenets this leadership team is working to achieve.
Additionally, this leadership team should be able to mobilize and engage your other employers to think in a digital-first way. They should be able to identify the capabilities of your staff to embrace your digital brand, while also knowing when you need to hire a third-party expert, such as a programming or data analytics team to help your organization with short-term transitions and initiatives.
Understand Your Weaknesses
In order to truly excel as a digital organization, you need to understand which parts of your online and mobile experiences are most lagging. Specifically, think about this in terms of customer experience: Which tech experiences create the biggest pain points or greatest dissatisfaction for your customers?
By identifying the parts of your organization needing the most work, you can unleash your true potential and eliminate any barriers to customers seeing you as a digital leader.
Make Yourself Agile
Your financial institution should be constantly evolving and improving. Establishing an API to embrace open banking is a great start. Additionally, your organization should have a team in place to regularly maintain, improve and research innovations for your mobile app and digital presence. Regularly planning for app updates and regularly rolling out new innovative ways to make the best use of your customers’ data will keep your client base strong and encourage a spirit of constant improvement within your organization.
Focus on the Customer Experience First
Technology should be a means to an end, and that means your organization needs to illustrate what a positive customer experience looks and feels like, and then make sure your digital presence is fulfilling those promises. For example, if your organization is striving for a true omni-channel experience that is seamless for your customers, you should start customer journey mapping different scenarios and exploring how that omni-channel experience truly plays out. By diving into the nuts and bolts of the customer experience, your leadership team will be able to identify concrete and specific ways to improve the technology proving the framework for the overall customer experience.
Focus on Mobile
An omni-channel experience is essential to the modern competitive financial institution, but within that context, your organization should approach omni-channel from a mobile-first approach. Increasingly, customers are conducting financial transactions and interactions from mobile apps, and it’s important your financial institution look at these interactions as an epicenter for the way customers view your brand as a whole. Quite simply, if you get mobile right, the other pieces will fall into place.