Consumers no longer base their loyalty on price or product, but instead on the experience they receive from their bank or credit union.
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Customer experience will be one of the most powerful differentiators for banks moving forward. In 2020, signs suggest that banks will be pushing for a more personalized experience, increasing the number of bank-consumer interactions that feel like one-on-one encounters. That includes an expanded array of “moments of truth”—brief but important moments of connection to help customers manage their financial journey. In some cases, this will mean bringing humans back into processes that have been automated in the past, to make sure customers still get the human touch where it matters. Above all, the future of banking will be about building consumer trust and sustaining a brand image that reinforces that trust.
Category: Curated Content, Financial Services, Legacy