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Lack of the Profitable Relationship

Lack of the Profitable Relationship - Digital Experience Blog Post

In banking, like any business, the relationship with your client is everything. Their business and expanded loyalty is a much sought after commodity. Many financial institutions struggle to adopt the latest technology and integrate it seamlessly into the client experience. Carefully adopting the digital tools that matter to your clients is the first step. Secondly, ensuring that all touch points resonate with the same quality experience is critical.

Making digital interactions a priority can create situations where your customer’s relationship is thin. When the relationship suffers, the customer is susceptible to any new offer, incentive, or rate from a competitor. Banks and credit unions must remember the value of the profitable relationship. Banking, after all, is about establishing relationships with our clients. The goal is to meet their needs while building a relationship of trust. In turn, our financial institution will grow.

On the other hand, financial institutions that launch digital technology in a smart and strategic manner aimed at enhancing the current client experience will continue to find success. Ensuring that the digital experience is seamless with the in-person experience for which the financial institution is known is tricky to navigate but rewarding. Utilizing employees to serve as concierge associates in smaller, high-traffic branch locations offers the best opportunity to maintain and generate relationships with current and future clients.  Put your people, branding, products and services in the direct path of your clients and work to engage them and watch the profitable relationship strengthen. 

What is Next?

In conclusion, shifting the mindset of the in-person branch experience and the digital platforms in place will help build profitable relationships.

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