Three ways to humanise the digital banking experience
The digital banking experience is more important than ever before.
It now helps financial institutions create a personal bond with their customers — and the better this experience is — the more likely people are to become repeat users.
A study by Harvard Business Review found that after a major bank introduced a credit card designed to inspire an emotional connection with millennials, its millennial user base grew by 70%.
This shows that banks need to move away from purely transactional digital apps and focus on building a digital experience that connects with customers on an emotional level.
Ahmed Khidir, Business Development Manager for Digital Banking, Temenos, provides three tips on how to humanise digital banking, which we summarise below.
1. Human touch
There is a strong preference for face-to-face communication and human interaction in today’s digital world.
One of the ways this can be achieved in the banking sector is by communicating with customers in a way that builds emotional connections—such as through real-life interactions, audio and video communication, and screen sharing.
This will ensure that customers feel valued and are more likely to have an attachment to your bank as a result.
2. Impressing customers
Banks can improve their customer experience by adding new features to their apps that are unique and impressive.
For example: Tesla cars have a feature that makes the car ‘dance’ – the lights flash along with music, and the doors move, too.
While this feature does not directly influence the owner’s driving experience, it is a unique feature that reinforces customers’ emotional bonds with their car.
The same principle can be applied to banking apps to generate positive emotions and improve engagement with users.
3. Connect with your customers’ lifestyles
The third tip from Khidir is for banks to connect with customers’ everyday needs and values.
This helps to build a more intimate relationship with the customer.
Flowe bank chose to work with Temenos, based on this principle, and set up a core banking environment that was environmentally responsible.
Temenos then helped Flowe implement eco-friendly solutions such as debit cards made from recycled wood.
This allowed Flow to better engage with its environmentally-responsible customers by understanding and meeting their values.
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