Essentially, customers want to know that you actually care about their financial future. This means offering them tools that help them manage their money better, like retirement planning tools, budget calculators, and so on. Though offering these tools via your app or website may seem like once again you’re just being a faceless institution, it has just the opposite effect on your customers; it shows them that you are invested in them as individuals, and strengthens the trust they have in you.
Easy to Speak to a Person
Though mobile is the new way of conducting most financial transactions, it can’t completely replace the value of physical locations and human representatives. No matter how much technology your institution has, you must still make it easy and convenient for your customers to speak to a human when they need to.
Being able to speak to an advisor increases customer satisfaction by an average of 6%, and makes them 7% more likely to recommend your organization. Increased satisfaction also means increased loyalty, so your customers will be much less likely to switch providers if they are able to speak with an advisor when needed. In fact, one of the primary reasons customers give for wanting to switch providers is level of service. So even in the digital world, human touch is essential to success in the fintech industry.
The shift to mobile has forced many financial institutions to reexamine the way they do business, especially in regards to how they interact with their clients. While customer experience used to rely solely on their interactions with your staff, it now relies on their interactions with your technology. This means that your apps, website, and portals must be secure and easy to use—and of course, your staff should be there when your customers need them.
Jesse Wood is the CEO of document management software vendor, eFileCabinet. Founded in 2001, eFileCabinet, Inc. began as a cutting-edge tool to digitally store records in accounting firms. As it grew in popularity, eFileCabinet developed into a full-fledged electronic document management solution designed to help organizations automate redundant processes, ensure security, and solve common office problems.