Why Should Financial Service Organizations Push for Digital Engagement?

Why should Salesforce Crm For Finance Firm push for digital Engagement

Undoubtedly, customer experience has become the key to success in financial services. Like other organizations, banking and lending institutions are adopting digital channels to serve their customers. Post Covid-19, it has become necessary for the financial services industry to reimagine its digital banking experience to offer automated, personalized, and self-service options to customers. Customers compare their banking experience with other industries in today’s highly competitive marketing landscape. To retain and attract customers, banks and financial service organizations need to keep pace with increasing customer expectations.

As per the research conducted by J.D. Power, before the pandemic around 52% of banking customers were branch-dependent. The study further stated that digital-only customers are less satisfied. This compels banks and lending institutions to improve digital engagement by providing customers with a more connected, cohesive, and personalized bank-from-home experience. According to Salesforce research, 88 percent of customers want that banking organizations should accelerate digital initiatives due to COVID-19 while 68 percent of customers say that due to the pandemic, their expectations for a brand’s digital capabilities have increased.  

During the pandemic, digital services have helped millions of consumers who were stuck at home for months. Since digital is the key to success, banks and financial service organizations should focus on quickly can they scale their services to deliver a connected, innovative and intuitive digital customer experience. 

Today’s customers expect that their digital banking experience will exceed their in-person interactions. However, it is also a pertinent fact that in-person interactions cannot be replaced 100% with new technology and automating processes. You need the right mix of self-service and automation along with the live interaction with the human on the phone line. 

In this time of uncertainty, tools and services can support your customers. Customer relationship management software like Salesforce CRM for Finance Firms will provide you with a 360-degree view of your customers while in-built artificial intelligence reduces risk while self-service capabilities will help improve customer experience, employee productivity, and operational efficiency. 

The COVID-19 pandemic has rightly highlighted the need for digital transformation. To support customers and meet their expectations, banks and lenders should build relevant digital experiences. For customers who want to quickly, easily, and intuitively interact with you, the only solution is a digital experience. 

Leveraging cloud solutions like Experience Cloud banks can quickly build websites, digital banking portals, mobile apps, and other digital touch-points to engage customers. Using these solutions, organizations can quickly launch new services while connecting data to bind everything together across every customer interaction.

Building digital experiences from scratch or using siloed systems is a time-consuming task. Since these systems are non-interactive, they require significant investment in implementation, maintenance, and support. Solutions like Salesforce offer apps or portals that are built for bank and financial service use cases.

Deploying these apps and portals requires neither significant investment nor time. Furthermore, every single thing can be customized for financial consumers, distribution partners, and intermediaries. Financial services organization apps and portals, financial institutes can gain a complete view of the customer with a single, unified profile, from email to digital engagement, to service. Lastly, you can create seamless digital experiences in record time using cloud-based technology like Salesforce.

For services, contact us at sales@kcloudtechnologies.com

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