Today's financial services industry is evolving, and as a result consumers are seeing a widespread change across their preferred banks. Many organizations are opting for a greater focus on mobility, with online banking as a prominent way to complete a transaction. Others are altering their branch design by reducing tellers, leaning on cash recyclers and ATMs and embracing a "universal banker" mentality.
Overall, the industry is in a state of flux. Consumers can see that, and this increases risk - risk that they will choose a different bank, gather their assets and leave. In order to prevent that, your bank should make customer satisfaction a top priority.
"Don't lose customers due to a poor banking experience."
Here are three simple steps to create a better banking customer experience:
1. Improve customer service
One incredibly important element is your customer service. People will be happier banking with you if you are responsive and friendly. Should a problem arise, have a system in place to quickly handle all these complaints. Train customer service representatives to understand every issue and treat each client with respect. This will go a long way toward improving your bank's customer experience.
2. Implement better systems
The customer experience should be streamlined and simple, but it should also be in line with the trends of the industry. Therefore, make sure your bank has:
- Mobile and online banking
- Smarter ATMs
- Cash recyclers
- Intuitive branch design
For example, a branch that has individual universal banker stations equipped with cash recyclers, a row of smart ATMs to handle average transactions and a redesigned, comfortable waiting room will be a friendlier experience than a branch that has a row of tellers behind bulletproof glass.
3. Offer improved rewards
Your bank should feel like a friend for your customers. While it is always difficult to create this type of relationship between a company and a person, you can make some changes to get started. One smart option is to put a face to your bank. Update your online presence with some behind-the-scenes videos filmed by your branch employees. Let them film short biographies to put up on your website. You can also offer better rewards for your products, like cash-back credit cards and no-fee checking accounts.