Customers’ Banking Expectations Are Changing Continued
Customers are demanding features that only digitally advanced banks can deliver. More financial control Customers want their banks to provide instant access to information so that they can better manage their own finances —any time they need to. One study shows 59% of customers say they want tools that help them monitor their monthly budget, with real time adjustments based on their spending. 3 Seamless experiences As customers move from being served in branch to accessing their finances on the go, they want a more seamless experience. In fact, nine out of 10 consumers say they want “absolute omnichannel service” 4 —wherever they are, whatever device they’re using.
Real time personalisation Customers—54% of them in one study—want more innovative, real time personalised offerings and services relevant to their specific banking needs and location. 5 Guaranteed protection Customers want peace of mind and confidence that the personal data they share will be kept safe and secure. Overwhelmingly, 71% of customers say financial services firms need new consumer privacy regulations and protections. 6 Sustainable practices and products Customers want banks to operate in more sustainable and ethical ways and offer more innovative, sustainable products and services —already, 57% of lenders say they plan to launch a green mortgage offering after the current Coronavirus pandemic. 7
3. 2017 Global Distribution & Marketing Consumer Study, Accenture, 2017. 4. “CX Transformation Benchmark,” NICE inContact, 2018. 5. 2017 Global Distribution & Marketing Consumer Study, Accenture, 2017. 6. The Deloitte Center for Financial Services Privacy Survey, 2020. 7. Green Mortgages Autumn Report, IMLA 2020.
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