Digital banking capabilities have been steadily growing over the past decade. Indeed, what started with a website then extended to mobile, and today people use their smartphones as the norm. There is demand for robust and customer centric user experiences that are omni and opti-channel as a standard part of the service.
Expectations are reflected in broader life! People enjoy personalised and tailored suggestions from Netflix and Amazon. They want to have a frictionless experience when they deal with products and services and have come to expect that they can deal with any given service provider over a channel of their choice and at a time of their choosing.
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Additionally, speaking of corporate banking, companies want to deal with their bank at the time and over the channel of their choosing. They want their relationship manager to have a good overall understanding of their company, where it is in its lifecycle, its risk profile, how it manages its finances and what other products and services it might need from its corporate banking relationship.
So, now that banks have access to these tools and capabilities, they need to use them to alter how they service their customers and create an efficient and value-added customer experience – including a face-to-face element.
This has never been as important within corporate banking. Businesses large and small want to focus on growing their business rather than wrangling with getting hold of their bank. For them, the need is to have a bank that is efficient, takes care of regulation and other risk areas, will support them, be accessible and flexible when needed, and generally become a trusted partner. It is even simpler as technology can help and make easier.
