COVID and its ramifications are inescapable. Whether you’re tired of hearing about it or not, the reality is that COVID is ubiquitous in every avenue of our lives. For banks worldwide, the effect has been palpable as it has not only affected the economy, which in turn affects the financial health of each of their customers, but it has impacted how people are engaging with their bank ie no more visits to branches and brick and mortar locations.
In the summer 2020 issue of Financial IT, Georg Ludviksson discusses the pain points most banks are experiencing during these unprecedented times.
“Your digital bank has been under scrutiny and has undoubtedly been tested over the last few months. Clients who were once intimidated by their digital bank or just preferred to visit a branch have been forced to adopt new methods.”
Ludviksson understands the fierce competition facing banks today with big tech moving into this space rapidly emphasizing the priority that needs to be placed on customer experience.
“Banks must recognise that digital banking is no longer simply transactional functionality which happens online; it is the capacity to deliver a full-service experience, activating the customer in ways that allow them to control their finances in a simple but effective way.”
At Meniga, our aim is to achieve the 4 following outcomes when it comes to evolving a digital bank:
Now more than ever, banks need to provide their customers with a digital bank that’s fully equipped to help them with their financial health. Provide easy, simple, and sustainable steps that can help customers help themselves when it comes to taking control of their financial health.
If you would like to know more about how you can evolve your digital bank in a way that best serves your customers, check out our free insight paper Financial Fitness in a Post-COVID economy.
Financial IT is an online and print publication for financial and finTech news. Their website has 100,000 unique visitors per month and over 70, 000 subscribers who are key decision-makers from FTSE 500 & Forbes Global 2000. Financial IT aims to provide a unique and valuable forum for people involved in the change process to learn and exchange ideas and knowledge — as technology cements its pivotal role in supporting the financial markets.