The past year highlighted the growing importance of digital customer experiences in the financial services industry as COVID-19 continued to accelerate the pace of digitization. Unable to connect in person, consumers turned to digital tools. One survey conducted between late March and early May 2020 reported that between 46% and 51% of adults in the United States increased social media use since the start of the pandemic.
In the banking world, where handling money safely and securely is a foundational element of the entire industry, having the public’s trust is a nonnegotiable element of success. The financial industry had to scramble to rebuild this trust after it took a hit during the Great Recession