Financial Services

Customer Experience Transformation

Six Things That Banks Should Avoid During Customer Experience Transformation

Brand Strategy, Financial Services /

For banks, Customer Experience (CX) transformation is full of challenges and opportunities. As markets evolve, new regulations are introduced, and financial behaviors shift, businesses must adapt and reinvent themselves to stay relevant. Drawing insights from our studies, particularly from our white papers “Overcoming Stealth Attrition In Retail Banking” in 2017 and “How Branch-Focused Customer Experiences […]

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Seamless Banking

Unlocking a World of Seamless Banking: Empower Customers at Every Step

Digital Experiences, Financial Services /

The financial industry is transforming rapidly. From multi-channel approaches to omnichannel experiences and the rise of AI-driven seamless banking, institutions are embracing changes at various stages. This transformation is being accelerated by Europe’s enthusiastic embrace of open banking, which will shortly be followed by open finance. Together, they offer customers greater control over their financial

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How to Reduce Customer Attrition in Banking: Insights and Strategies

Financial Services /

How To Overcome Customer Attrition? From NPS scores to customer account depth and new customer acquisition, financial institutions track a plethora of metrics to gauge the health of their business. But what if these metrics are lagging predictors of future success, and financial institutions need to focus on what is truly important? As seen on

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banking ecosystem photograph showcasing all channels

Why Bank Branches Are The Solution for Successful Digital Transformation in Banking

Financial Services /

Most financial institutions continue to prioritize digital transformation and digital technology, leveraging their online and mobile platforms to reduce customer attrition caused by branch relocation and closure. As a result of this shift, many banks and credit unions have shifted from traditional banking to digital-first institutions. This change increases online and mobile customer usage and

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Bank transformation

5 Interesting Ways to Humanize the Banking Customer Experience

Financial Services, Retail /

The Banking Experience Summit recently convened leading bankers from three continents in Chicago to discuss the industry’s challenges and the future of banking. The two-day event drew more than 40 top institutions, ranging from large national and regional banks like JP Morgan Chase and Regions Bank to a diverse range of mid-sized institutions and credit

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Woman and digitalization

Five Ways to Fill the Digital Transformation Gap for Retail Brands

Brand Engagement, Brand Strategy, Communications, Customer Experience, Digital Experiences, Financial Services, Retail, Retail Design /

The Current State of Transformation   Digital transformation, for many institutions, has ended at the doorstep of their retail channels. The pandemic has accelerated the growth of both Amazon and Fintech, forcing banks and retailers to shift their focus to digital to help drive sales and customer retention. However, as digital transformation efforts mature and

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5 Things Banks Need to Know About Gen Z

Brand Engagement, Brand Strategy, Customer Experience, Digital Experiences, Financial Services /

About half of Gen Z are now over 18 and are making adult financial decisions. As banks and other financial institutions look to the future, what does this diverse young generation want? In this blog, we explore emerging trends in banking preference and behavior, the driving forces behind these changes, and what banks can do

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5 Pitfalls Banks Must Avoid When Launching a Micro-Branch

Financial Services, Retail Design /

The need for banks to drive greater efficiencies and reduce the cost of delivering financial products and services has resulted in the introduction of various micro-branch formats around the globe. Our recent study, Physi-Digital: Humanizing Your Bank’s Digital Transformation, noted that most banks are putting great importance on their digital and physical customer experiences as

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Finger pointing towards a blue open banking digital graphic

What Does Smart Banking Look Like in 2021?

Brand Strategy, Business development, convid banking, Customer Experience, Digital Experiences, Financial Services, Retail /

After a tumultuous 2020, the banking industry is transforming itself from being the root of the issue in the last financial crisis (2008) to being part of the solution in this one. Not surprisingly though, different banks are at different stages of transformation. In this article, we look at some of the best practices from

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Ant Group Record-Breaking IPO

What Ant Group’s IPO Could Mean for Retail Banks

Brand Strategy, Digital Experiences, Financial Services /

It is no longer a surprise that Fintech firms are shaking up the financial service industry. The most recent example is Ant Group, who has been making news for a potential record-breaking IPO, which some analysts believe could surpass $35 billion USD. Though the offering is currently on hold as the company responds to changing

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Illustration of women talking at a bank

How Banks Can Appeal to Both Rational and Irrational Customers

Environmental Design, Financial Services /

We recently highlighted the relationship between behavioral finance, a banks’ brand strategy, and how prospect theory changes our perception of experience design. Now we will continue to explore the topic of brand strategy based on customers’ behavior patterns. Are Your Customers Rational or Irrational? Probably Both. Traditional business analysis assumes that consumers and other market

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People standing in line for waiting to use an atm

What Banks Can Learn From China’s Handling of COVID-19

Brand Strategy, Business development, convid banking, Financial Services /

Download This Report and Take It With You! China’s post-pandemic shift to a new normal started more than a month ago, with the majority of businesses fully operational. The pandemic has temporarily slowed China’s growth, due in part to the disruption in exports as most Western countries’ manufacturing and service industries remain significantly impacted by

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The Three Phases of Smart Banking 270x370

The Three Phases of Smart Banking

Brand Strategy, Business development, Financial Services /

The majority of financial institutions are focused on ensuring their strongest asset for driving growth, namely their retail banking network, remains relevant with the rise of Fintech start-ups and new types of banking competitors. This need is most prevalent in Asia, and more specifically China, where there is an enormous and underserved appetite for smart

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New Technologies that Will Change the Banking Industry 270x170

New Technologies that Will Change the Banking Industry

Financial Services /

In our previous blog we discussed the four tiers of immersive experience with the pinnacle representing the “Bionic Human,” a fully symbiotic technology enabled human delivering superior customer engagement. We often wonder how far into the future it will be that we witness the convergence of technology and human beings, such as The Six Million Dollar

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