Self-service banking – the key to customer acquisition and retention

The methods by which clients are interacting with their banks is present process a basic shift. Even previous to the COVID-19 pandemic offering an accelerant, customers have drifted away from conventional banking contact factors and in direction of extra fluid digital channels.

Whereas necessitated by the closing of branches and the discount involved, it has uncovered an unprecedented variety of customers to the potential of different strategies of self-service banking.

Customers have turn out to be reluctant to go to branches, with 26% saying they wish to keep away from face-to-face banking totally going ahead. The common person is transferring from financial institution branches to 24/7 entry to their accounts – which implies they count on a branch-level of instantaneous personalised help and seamless fixing of points.

The reality of the matter is that oftentimes they aren’t discovering it.

Monetary establishments have needed to pivot shortly to supply the degrees of service their clients count on. They’re experiencing unprecedented ranges of interplay, and that scramble exhibits.

Whereas 70% of customers are utilizing self-service channels to report issues, solely 9% of customers are managing to totally resolve their points with out having to talk to an agent.

A capability to resolve monetary issues successfully and shortly needs to be the cornerstone of a financial institution’s buyer retention technique. Turning clients away on the teller’s desk would have been unthinkable just a few a long time in the past, so the identical should apply when that buyer is connecting through a digital channel.

On this deep dive trade report, produced in collaboration with Zendesk, FinTech Futures investigates the ways in which self-service banking has modified over the previous 24 months, and the way monetary establishments can – and may – react to the brand new wants of their clients.

Learn the paper to find:

  • How streamlined expertise hits the underside line
  • The right way to transcend the chatbot
  • Why an ecosystem of automation might be key for the longer term

That includes professional perception from:

  • Kuba Zmuda, chief technique officer, Modulr
  • Louisa Murray, chief working officer UK and Europe, Railsbank
  • Mike Gamble, head of customer support design and supply, TSB

Register now to obtain our free self-service banking report:

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