In a post-pandemic world, where the digital experience will be a primary area of differentiation and competition for financial institutions, banks will need to move away from purely transactional digital apps by offering digital experiences that connect with the consumer on an emotional level. Thus, a deeper customer intimacy and engagement will become the new normal of digital banking.
The benefits could be significant. Emotionally connected customers exhibit less price sensitivity, purchase more products, and recommend a given brand more compared to customers who are only highly satisfied.
Watch the video below to find out the 3 ways in which banks can build emotional connections in the digital banking experience.
Temenos Infinity presents 3 tips on how to make Digital Banking Human in the post-pandemic world.
According to the Harvard Business Review, after a major bank introduced a credit card that was designed to inspire emotional connections with holders, its use increased by 70%. Another study showed that emotional connections can increase customer lifetime value up to 800% for financial services firms.
In this video, Business Development Manager for Digital Banking, Ahmed Khidir breaks down his 3 best tips for Making Digital Banking Human and gives practical examples on how to approach each in just over 90 seconds.