Financial Services Entering New Era of Customer Engagement

Financial Services Entering New Era of Customer Engagement

Article from: The Financial Brand

Providers have no alternative to fully understanding each consumer they serve. The future of engagement is not about points and discounts, but about making banking easier and providing personalized experiences that respond to financial needs in real time.

Banks and credit unions are increasingly adopting a more personalized approach to connecting with consumers across all media channels, according to research from the Digital Banking Report. To stay ahead of the competition, financial services companies are making efforts to build human connections with consumers and trying to build a more emotional style of consumer engagement.

This is impacting all customer-facing components of the retail banking organization, from marketing to product development, to back-office operations, channel management and innovation. It is also changing how data and advanced analytics are used to create more robust views of each customer and member, with the objective being to replicate the targeting and engagement power of tech giants like Facebook, Google and Amazon.

  

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