For digital banking challengers to continue to gain market share and increase retention—a necessity in the current economic and funding environment—scaling and sustaining exceptional customer experience (CX) will be vital.
Digital banks have gained significant momentum over the past decade. About 27% of U.S. consumers use an online-only bank, compared with just 6% of U.S. adults with a checking account who considered a digital bank as their primary account in 2020.
Meanwhile more than 50% of customers worldwide will quit transacting with a company after a single poor customer service experience.
For digital banking challengers to continue to gain market share and increase retention—a necessity in the current economic and funding environment—scaling and sustaining exceptional customer experience (CX) will be vital.
Your CX strategy must be:
Customer-centric
Optimized for efficiency and risk management
Agile enough to adapt quickly
U.S. consumers say they want to try a digital-only bank this year
billion dollars lost annually due to poor customer service
of consumers will leave a brand for a competitor after a single bad customer experience
Without a CX strategy that ticks all those boxes, you’re at risk of losing customers, undermining growth, and being overwhelmed by fraud losses. By implementing CX that’s customer-centric, data-driven, and reliant on customer feedback loops, you can scale without fear of failing your customers at any stage of their journey.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will enable us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent may adversely affect certain features and functions.
