The banking customer experience has evolved over the years, creating a new level of customer expectations and standards that need to be met. Customers are faced with more options than ever for where to place their money and who to spend it with. This includes fintech competitors who have entered the market, disrupting traditional bank and customer relationships. As a banking provider, it is important to act fast and offer an up-to-date customer experience or be left behind. In this article, we will take a look at 7 banking customer experience trends that are likely to make a huge impact in 2024 and beyond. 

A mobile banking app

One of the key banking customer experience trends in 2024 will be customers expecting a ready-to-use mobile banking app when setting up an account. With the rise of mobile banking apps across the industry, more than ever, an app is becoming a necessity rather than a nice bonus for customers. Customers want easy access to their information, as they don’t always have time to get to a bank, cash machine, or a desktop computer. 

Customer self-service (AI chatbots/FAQs)

One of the themes for banking in 2024 is speed, with customers becoming frustrated with delayed customer service responses. When it comes to important banking issues, customers want quick answers and solutions wherever possible. There has been a rise in customer inquiries across banking over the years, and this can have a large impact on your customer service teams. By using an AI chatbot, you will be able to offer rapid solutions to your customers with minimal effort on the part of your current customer service teams. These chatbots will be available 24/7 to assist customers with common banking issues and to answer FAQs. Having an up-to-date FAQ page that customers can easily find and access is also important.

Hyper personalised targeting

You will likely already be retargeting and aiming new offers and information at your current customers through email lists. These lists will be based on data in your CRM that is collected by your marketing teams. However, these emails and customer communications can at times frustrate customers, particularly if there is a disconnect between the data being collected and the customer’s current situation. By creating hyper-personalised targeting for your customer communications, you can combine data from your analytics tools and drill down to the needs of the individual customer. It offers hyper-specific information focused on their specific situation. This information can then be used to create one-to-one marketing campaigns and offers for customers.

Human interaction

Before treading too far into the world of AI banking customer experience trends, it is important to remember the human element of the equation. People want the support of other people, and this will still be the case, particularly for complex issues that require a human touch. This can include reassuring a customer and leading them in the right direction, or offering specific advice picked up from years of experience. Your customer service teams are key when it comes to creating a first-class customer experience for your customers. Keep your teams trained and offer them the support of AI chatbots to assist with minor inquiries.

Electronic onboarding

The days of long-winded paper applications for bank accounts and going into a bank with proof of identity documents are a thing of the past. 2024 will see a rise in online applications and checks, with automated processes being brought in to increase efficiency across the board. What this means is less work for your onboarding teams and faster access to opening accounts for customers. A win-win for all involved.

Creating an efficient CX system

When implementing improvements to the customer experience, it is important to structure the changes to create an effective overall experience. Look at how different optimisations can link together and create one overall effective solution. Speak to your teams and look for pain points that can be addressed, collate all this information together, and look for the solutions that will work best.

Linking customer experience together with omni-channel

By linking all of your customer communications together, you can create an easy-to-follow omni-channel experience for your bank. What this means is that your customers will only be given the information that they need on the platforms that they choose. The customer experience will be coherent across platforms, and this will keep your customers from becoming confused and eventually being more tempted to look elsewhere.

So there you have it, several banking customer experience trends to look for in 2024. If you are looking for an all-in-one CCM solution that can effortlessly link with all legacy systems to help you automate and create omni-channel customer communications, then you should consider the Harmonie Communication Suite (HCS). HCS brings 5 different tools into one neat application, all designed to work within your team’s present workflow to make your customer communications shine. We have experience working with banking institutions and understand the importance of data security as well as providing an effective service to customers. To find out more about HCS, get in contact today.