Consumer trust in banking has faltered amid collapses and increasing financial insecurity. Meg Porter, EVP of Enterprise Transformation at Ubiquity, explores practical strategies to bolster trust with consumers along the CX journey.
With the dust still settling from bank failures and soaring prices squeezing customer cash flow, banks and fintechs have a significant task when it comes to building and retaining consumer trust. What’s more, shifts toward open banking in the U.S. will make it easier than ever for customers to switch providers.
In a 2023 poll, only 10% of respondents said they have a “great deal of confidence” in banking and financial institutions while 30% said they had “hardly any.” Meanwhile, quality customer service is what 92% of consumers say dictates their choice of bank, tied for first with security and fraud protections. Mobile and online access (91%) and low fees (90%) are close behind.
of consumers have a high level of confidence in banking
of consumers say their bank shows empathy
of Americans say financial anxiety is affecting their mental health
Those statistics highlight the specific areas where both banks and fintechs have opportunities to either establish or undermine trust with consumers. In this webinar, Meg Porter, EVP of Enterprise Transformation and longtime head of training and quality at Ubiquity, explores practical strategies to bolster trust with consumers along the CX journey.
You’ll learn tips on:
Delivering authentic experiences consumers crave
Designing training and QA programs that reinforce agent best practices and behavior
Balancing technology and human intervention
Delivering proactive problem resolution & continuous improvement
There’s a big disconnect between what trust means to finserv brands and their customers. Our latest whitepaper discusses how to repair consumer trust in finserv.
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