Depending on an organization’s response, digital disruptions can become competitive threats against the brand, or foster new opportunities for innovative banking technology to better meet the expectations of their customers. Because of this, bankers are realizing how successfully defining and structuring digital distribution and customer management requires a complete redesign of their existing business processes with a laser focus on the customer journey.
As bankers move toward an omnichannel environment, the hard reality is that many financial institutions are seeing their digital initiatives fail to hit their stated ROI targets, which ultimately hampers their ability to fund future endeavors.In today’s market, there are some best practices that financial institutions can employ to help ensure that the significant investments made in digital banking technology and practices are leading to meaningful ROI. Our own Todd Robertson is featured in ABA Bank Marketing discussing in detail how bankers can drive greater ROI by not automatically assuming customer loyalty, improving the onboarding process to reduce cart abandonment and when it does occur, strategies for re-engaging those prospective customers.
Additionally, we have developed a white paper: “Digital Customer Management and Delivery Planning – Three ARGO/Customer Case Study Results” that is free to download and that outlines real-world examples of how financial institutions have found success updating their digital strategies to realize faster deposit fulfillment times; significant increases in customer satisfaction through thoughtfully designed self- and assisted-service offerings; and in one case, achieving the removal of 100 percent of paper documents and paper-based signature requirements from deposit and lending account fulfillment.
As a society, we are changing how we communicate with each other; how we consume goods and services; and how those goods and services are delivered to us. How can bankers effectively balance customers’ preference for digital delivery paired with convenience, consistency and value-added personal service while creating better digital roadmaps to reach their ROI goals? At ARGO, we have proven experience in helping our customers do just that by navigating the complexities of designing and successfully implementing innovative banking technology and practices into an omnichannel environment to generate revenue while remaining customer-centric.