Despite its convenience, the technology intimidates many customers. Banks can turn the tide when they show—and tell—how it works.
In an age when roughly one in four apps are forgotten after one use, chatbots have the potential to turn conversations into customers.
Customers will increasingly demand the ability to bank on smart devices as well as traditional methods. But many banks simply aren’t ready.
To improve their ability to leverage customer data, banks need to build a customer relationship management system directly into their core system.
Merger and acquisition activity over the past decade has transformed large U.S. banks into increasingly dominant mega-banks and reduced the market share controlled by smaller ones, particularly in major urban areas.
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.