The number of people using digital channels to access their services is on the rise. However, the banks are sometimes struggling to seize the opportunity created by this sudden shift in customers’ preferences. Boosting the sales is now easier than ever before — provided that your institution has the right tools to do it. Discover 5 innovative ways to do this!
Table of Contents
1. Find your customers wherever they are
Customers are no longer willing to visit bank branches — and the pandemic has only confirmed their preferences. Today, banks have to reach prospective consumers wherever they are. Obviously, that cannot be done without digital solutions.
Omnichannel is one of the strategies capable of solving this issue. This simple, yet effective approach allows the customers to access banking platforms from any available channel, both mobile and desktop. The omnichannel feature also includes chats, videos, voice calls, email, social media that can be chosen according to the user’s needs. Thanks to this revolutionary technology, your customers can visit your virtual branch wherever and whenever they are in order to access every product they may need at the moment.
2. Simplify access to your solutions
Thanks to omnichannel, your customers can find you online. Still, to use the financial services of their choice they need to fill out a number of forms that are legally required to complete the process. That step may seem simple, but it can be very deterring, especially when it involves a visit to a branch. Nowadays digital human-assisted channels play a major role in digital transformation by streamlining the processes and fostering relationships with the customer.
Moreover, the virtual branch provides digital onboarding for the banks who would like to increase the customer base, but also for the clients having their account and access to other products right away. This online module simplifies access to banking services by providing secure and comprehensive verification processes for new customers. It usually includes detailed instructions and tutorials aiming to make the entire experience as seamless as possible. What is more, digital onboarding does not require human support, however, it is possible to engage remote advisor if the local regulations require such a step or for the customer’s convenience. Thus, the solution increases the customer base, creates a potential for x-selling other banking products, and is available in digital channels.
3. Improve security of your platforms
One of the customers’ main concerns is the security of online banking solutions. To convince them to complete a certain service or purchase, financial institutions need to prove they have everything to ensure the safety of received data and personal details.
There is a number of modules and solutions that can help your bank achieve that goal. Photo verification, ID check, or even biometrics become increasingly popular, as they fulfill customers’ needs for assurance and safety. They can also be beneficial for the banks — those features can quickly authenticate incoming requests, lowering the chance for unwanted or illegal activities in digital channels.
According to video branch channels, there are more integrations that boost security, like identification and authentication services, authentication. All communication in the system is protected with top-notch security technologies, resulting in data integrity and privacy. The security stack is continually updated and verified against changing security standards.
4. Enhance customer journey
Customer journey is more than just a few clicks leading to a sale. It consists of an intuitive interface, clear instructions, and easy access to all the necessary features. This can only be achieved when a series of UX design adjustments were used in the platform. The key to success is one agent application, which enables to handle all channels in one place without opening different tools. Entire communication regardless of the channels is accessible in one place.
The number and the type of design solutions used in a given platform may vary depending on the bank’s offer, its main goals, and communication strategy. Those modules usually include a graphical toolbox, digital documents exchange, as well as necessary integrations and adjustable notifications. All those features — and many more — help the customers find whatever they need at the moment. Therefore, they are essential for boosting sales in digital channels.
5. Provide extensive support
Supporting end-to-end processes of the essence for every single sale involving banking products. Thus, it is easy to conclude that such a feature has to be included in digital banking platforms.
Online customer support may differ depending on the stage and the type of sales process. The very basic support solutions include detailed instructions attached to every single step of a process and optional human assistance via chat, video, voice call, email, and social media. Such features allow the customers to complete a process of choice in a few minutes, with no further interruptions. For example, a digital signature, which provides a secure standard for signing documents.
…or simply choose one platform to do it all
Implementing all those features can be challenging should they be introduced separately. A comprehensive solution can meet all the customers’ needs at once without interfering with banks’ everyday operations. Those turnkey technologies, such as LiveBank, can reshape customer journey and boost sales within weeks from implementation while adjusting newly acquired features to the bank’s digital environment. Thus, this is a solution that is not only effective but also easy to maintain.
What is more, LiveBank comprehensive online banking platform can also be tailored to the needs of the particular service provider. The technology consists of several features and modules that may or may not be included in the package, depending on the customers’ requirements. Thus, it is a perfect response to the dynamic changes in the world of banking.