If slow and inconvenient transactions are what lead to customer abandonment, mobile and online banking are the polar opposite of these issues. JD Power notes that as the number of digital-only customers increases from a pre-pandemic 30% to a staggering 41%, customer satisfaction has also seen a remarkable increase.
APB increases this ongoing satisfaction by moving from basic web services to seamless end-to-end banking experiences. This approach to automation aims to absorb time-consuming manual processes from the digital workload, ultimately increasing the decision-making power of human staff.
Customer expectations for digital banking services
Banking customers are increasingly aware that digital offers faster, error-free convenience – whether they are commercial or retail. However, their expectations are rapidly reaching a scale that only business process automation can match.
For starters, many banks have opened their service telecommunications email list offerings to web and mobile channels during the pandemic. It was necessity that triggered the digital shift, but flexibility remains an attractive feature for customers. APB fits perfectly into extending a bank’s flexibility.
The American Bankers Association reports that online and mobile banking is now for 70% of Americans. Customers are eagerly awaiting these new delivery channels to become more robust over time. So far, features like mobile check deposit or online account opening have set new standards for the radical advances customers expect.
Now that digital experiences are becoming the norm, Capco has learned that 72% of customers want the personal connections they expect from in-person banking. For example, 34% of Millennials would rather have their teeth cleaned than call their bank’s help desk. Customers now expect their bank to leverage their account history and past interactions, making it easier to move from problem to solution.
Additionally, customers believe their bank should offer a frictionless flow between service channels . Even with the expansion of digital, Capco’s survey found that about 2 in 3 customers still want the ability to speak with human support. This only underscores BPA’s interest in uniting new and existing platforms for simplified use when needed.