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.
Banks exist to serve the financial needs of consumers, through whatever avenue works best. With the rapid evolution of technology, more tools and resources are available than ever before to determine and meet those needs. Personalization in banking works when the customer is the focus, but without customer-centricity as their anchor, banks drift from what really matters. What steps can banks take to stay focused in today’s changing financial environment?