Chat channels and other digital tools can help community banks maintain their personal touch during social distancing.
Despite the stereotypes of Millennials going all-digital for their banking needs, jumping to conclusions about generational change can lead bankers astray, according to BAI Research.
To gain mobile banking wallet share, banks need to make their login processes more secure, expand photo services, improve customer service and add personal financial management capabilities.
Banks can learn a lot from the retail industry when it comes to using analytics to drive sales and customer engagement.
Mobile technology can help branch employees provide customers with an improved branch experience – if those employees are trained to leverage the technology.
For omnichannel experiences to pay off for customers, the design principles of ease-of-use, efficiency and emotion must come to the forefront.
Banks can reduce the cost and improve the security of their printing operations by implementing an enterprise-wide print management strategy.
To avoid the revenue growth squeeze, community banks need to embrace neighborhood marketing, improve sales effectiveness, expand customer relationships, utilize data analytics for product design and diversify their offerings.