The digital disconnect
Even though digital channels should be an extension of the retail strategy, many organizations adopted mobile quickly and created a situation where they were providing two very different experiences. Think about it this way – What would you do at the branch that you want reflected in your mobile app? Digital offerings should be reviewed in the context of your retail self-evaluation. Conducting a gap analysis between the branch and digital experience will reveal where engagement is lacking and forces the question, “are my digital offerings helping or hurting my business?”
For example, you don’t want people entering the branch and not getting greeted. However, most digital banking offerings are strictly transactional – the equivalent of a branch with only teller lines and no human touch. The level of comfort and familiarity for the customer should be consistent, regardless of whether he or she is in the branch to discuss opening a savings account or depositing a check from the kitchen table. You would be surprised to find that even simple changes – colors, font sizes and types and other visual factors – can be drivers of satisfaction (or dissatisfaction).
The customer experience should also be examined to ensure features and functions are aligned with retail offerings, and delivered in such a way that the customer can easily interact with the functionality and control their account.
You may want to consider offering multiple mobile apps, with different features and functionality that meet the needs of each segment identified in your self-evaluation. For example remote-deposit is a must for all segments, whereas account aggregation and P2P payments are features younger customers seek more often.
Cohesion across all channels removes friction and increases the lifetime value of the customer. Working closely with tech vendors to align cross-channel capabilities creates a path to digital success and ensures that your organization, not the branch, becomes associated with personalized service that keeps customers coming back.
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