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User Experience is the New Customer Service

Sep 17, 2015 2:30:55 PM

Is the digital experience you are offering your account holders sufficient to stay on the cutting edge of innovation? 

Banking revenue has stagnated over the past several years, resulting in an even deeper need for institutions to focus on increasing customer loyalty. Forrester stated that "focusing on customer loyalty is no longer just a smart strategy. In an age of empowered customers, it is an imperative." 

Watch this recorded webinar to gain insight into how account holder preference has shifted over the past 20 years, and what financial institutions can do to remain competitive through improved digital experiences. 

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Here are some highlights from the webinar:

“Consumers are now being driven to make choices about who they do business with based on the kind of experience they get from that relationship. It’s incumbent upon us in financial services to define who our customer is, define what their expectations are and meet and deliver in the best way possible. ”

— Alan Bergstrom, SVP and CMO, Community Choice Credit Union

“Our customers don’t care about our issues, what the regulations are, what the risks are. They have expectations for things to work. Those expectations keep increasing. Not because of what our competitors in the brokerage, banking and insurance space are doing but because of what others are doing. If I can bring a check into the bank and cash it and get that money out that day, when I use my remote deposit I expect the same thing to happen. If I use that remote deposit and it doesn’t happen and funds won’t be available for two days, you’ve got an upset customer. They don’t care that there’s a risk reason behind that. How do we meet our customers’ expectations and create that truly omnichannel experience to the expectations of our customers and delight them in the process?”

— Bruce Randall, President/Head of UX, Spring Studio/BBVA US

“The ability to connect at a customer’s time of need is the million dollar question. How do we use those individual moments to engage with someone about retirement or engage with someone around college savings? That is one of the biggest things for us. We know who our members are but how are we utilizing that information to address what’s happening at that point in their life to get a relevant message to them?”

— Stacey Collins, Director Experience, Design, & Implementation, BECU

“The focus is on providing the same quality of service and type of experience irrespective of the channel or medium they’re using. In order to do that, I encourage everyone to go through an extensive member experience mapping exercise, mapping every touchpoint in every channel with every product, every customer segment to see where those painpoints are and where there are opportunities to re-architect the experience.”

— Alan Bergstrom, SVP and CMO, Community Choice Credit Union
Michael Harrington

Written by Michael Harrington

Michael Harrington is the digital marketing manager here at MX. He has worked in the digital marketing space for 4 years, and has a passion for the industry and finding innovative solutions for problems. In addition to marketing, Michael is known for his skills on the saxophone and (believe it or not) his beatboxing prowess.