Meeting users where they’re at, truly innovating and crafting delightful journeys – here are 7 key ways to boost our customer experience in finance, banking and FinTech
Want to increase revenue and grow your finance business?
The most historically sound way to do this is to attract and retain a large number of your ideal customers. But how do you build that loyalty into the fabric of your venture?
In 2019, Gartner wrote that customer experience is the key to building loyalty. So how do you improve your customer experience (CX)?
We’ve touched on a few important methods in the past, so we put together a list of 7 methods to help you do just that….
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Great customer experience starts with true empathy and discovering what people are truly looking for. This can sometimes be surprising, going beyond your initial product idea – hence the need to be adaptive, use design thinking, build lean and become a master at iteration.
The only thing is that, sometimes your first-party data can be limiting or one-dimensional. To get a clearer picture of what potential customers need, you might need to look beyond just their financial scope – what are their behaviours in other spheres?
For this, having access to big data insights can be extremely useful. Big data being data collected from other providers, to help inform you about specific customer segments you’re targeting.
See how to use big data to understand customer needs.
One of the first things we do when building a new tech tool is to map out various customers’ potential journeys when using the product. Yet it doesn't only apply to tech-first businesses; even as a tech-enabled company, you can streamline your overall customer experience immensely by taking this approach.
Customer journey mapping helps you identify each touchpoint your customers encounter, from initial awareness to post-purchase. This method ensures that you don’t overlook any critical interaction that could make or break their experience. Additionally, journey analytics offer actionable insights, allowing you to fine-tune and optimise each step in the customer’s journey.
See how to do the initial customer journey mapping to anticipate needs and then use it to fuel strategic decisions by using advanced customer journey analytics.
Listening to your customers is essential for continuous improvement. It’s essential to build as many feedback loops as possible so that you can get actual customer experience insights on every part of your business and product.
Specific feedback platforms can help you capture feedback, and then, more importantly, you want systems that help you analyse it in real time so that you can act on these insights quickly.
Use correctly, feedback can guide your innovation, improve services, and help build long-term relationships.
Discover some purpose-built customer feedback platforms and then see how to do more accurate customer feedback analysis.
In today’s fast-paced digital world, innovation isn’t just about adding new features; it’s about continuously improving your offerings to stay relevant and meet evolving customer expectations.
It’s important to be agile, experiment often, and not be afraid to pivot when necessary.
Techniques like A/B testing and data-driven development allow financial services to optimise features and interfaces in real time, providing more seamless, intuitive experiences.
By integrating the core design thinking principles, you can ensure that your solutions don’t just meet current needs but are also future-proof, anticipating what your customers will want next. Innovation doesn’t always mean dramatic overhauls – small, incremental changes based on real customer data can make a big difference over time.
See how to incorporate design thinking in finance, keep your service cutting edge by leveraging A/B testing in digital banking and see how to boost innovation in banking and finance.
In the age of digital banking, personalisation is king. Today’s customers expect more than generic services; they want experiences that feel tailored to them. By leveraging machine learning and AI, you can tap into personalisation strategies that dynamically adjust to each customer’s needs, habits, and goals.
From personalised savings plans to custom investment recommendations, using data-driven insights to tailor your services shows customers that you understand them on an individual level. This not only builds trust but also helps to deepen relationships, driving long-term loyalty.
See how machine learning can power personalisation.
UX goes far beyond aesthetics – it’s about how your customers feel when they interact with your service.
A great UX ensures that each interaction is intuitive, efficient, and delightful. In finance, where the stakes are often high and the information complex, it’s vital that your users don’t feel overwhelmed. A powerful UX simplifies tasks, reduces friction, and builds confidence in your platform.
Think of how small improvements in form design, page load times, or navigation flow can make a huge difference in user satisfaction. Emotional design principles can also help, creating a sense of ease and trust. A smooth, satisfying UX design keeps customers coming back.
Learn more about creating emotionally powerful UX experiences and how to use UX to boost customer satisfaction.
While UX addresses the emotional and functional aspects of an experience, your User Interface (UI) ensures those interactions are visually engaging and easy to navigate. Investing in your UI means reducing cognitive load and making even the most complex financial processes straightforward.
From minimalist dashboards to intuitive navigation and quick access to support, a well-crafted UI enhances customer satisfaction and improves usability. With the right UI, you can build a brand image of professionalism, trust, and forward-thinking technology that will set you apart from competitors.
Explore powerful and current UI trends in banking.
Need to improve your customer experience?
Our technology consultants can help you make informed decisions and move faster.
