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Make Your Digital Transformation Meaningful

Most financial institutions are constantly evaluating and re-evaluating their digital platforms, thinking of ways they can improve the technology they offer, stay up-to-date with the competitive landscape, and check the necessary boxes to consider themselves digital leaders.

However, too often, these measures don’t maintain a customer-centric approach. Leaders and decision makers feel pressure to “keep up with the Joneses,” and are simply focused on having the flashiest, newest technology available as a means to look smart.

In the process, they sometimes sacrifice customer experience, or fail to improve the overall customer experience. Think about the following pieces when reviewing and improving your digital offerings.

See Covid As An Opportunity to Help

While Covid has been devastating for individuals and organizations from both a health and economic perspective, it’s an opportunity for your organization to provide support in a time of need. Namely, your digital platform and your ability to help customers utilize it will be hugely helpful. Think about ways you can go above and beyond:

Replacing in-person. Due to restrictions and for personal health reasons, there are likely a lot of individuals using your digital platforms for the first time. Thinking specifically about tech-resistant customers, think about ways you can help streamline the process, make it easy to understand, and help overcome any hurdles.

Proactively communicating. Think about ways your organization can help proactively communicate information related to unemployment benefits, forgiveness programs instituted by the government, or new initiatives your organization is undertaking to help customers during economic uncertainty.

Support. Try to increase your digital chat and phone support while customers are forced to utilize your digital platforms. Make sure you’re showing that your organization is accountable and willing to support customers through difficult times.

Begin and End With Customer Experience

When you’re considering a feature to incorporate into your digital platform, think critically about how it will help (or hurt) your customers. Too often, cost-cutting measures for automation are made without the customer in mind, or new technology is hurried through the door without thorough review about customer usability. By keeping your customers front-and-center, you ensure your organization is addressing the “why” behind your digital platform.

Create a Digital Culture

Make digital improvement a regular part of your organization’s activities through:

Review. Make sure you’re measuring the performance of various digital touchpoints and working to improve them.

Exploration. Have regular exploratory processes in place to learn about how new technology and partnerships can be incorporated into your organization’s digital offerings.

Education. Take time to make your branch employees fluent on your digital offerings. Help them understand how the customer sees their in-branch experience and your digital platform as one larger experience with your organization and brand.




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