At a time when banks and credit unions are trying to improve the economics of branch banking, iBeacon could deliver a personalized digital sales experience as soon as the customer enters a branch Office.
iBeacon, working in conjunction with Bluetooth Low Energy (BLE), can integrate the physical and mobile channels, enabling a bank’s mobile app to deliver highly tailored digital promotions, coupons or offers directly to the consumer’s smartphone when the customer is in the general vicinity of an office, at any specific location within an office or at an ATM.
Today’s banking and credit union customer is hyper-connected, highly informed and demanding a highly personalized approach with regards to communication, product development and customer service. These customers cannot be defined by a specific age or income category or geographic parameter, but by their ability (and desire) to adopt and apply new technologies to meet their banking needs.
Say “Hello” to Customer 3.0.
As customers continue to change their channel usage patterns, banks and credit unions must focus on delivering a consistent and seamless experience across various touch points. More than just a buzzword, omnichannel banking is an opportunity to deliver bottom line results by gaining insight into customer’s channel preferences and behavior.
There’s something about New York. The place exudes a sense of purpose. Broadway is the perfect place for a show and it seemed a fitting location for the Celent Innovation & Insight event. The theme of the show was shoot for the moon and even if you fail, you’ll fall among the stars so it seemed fitting that it started with the Star Trek theme tune. Representatives from various companies shared their stories of innovation in both insurance & banking.
Increased competition from challenger brands is disrupting the financial industry. Seamless digital banking has a long way to go. BBVA’s recent acquisition of Simple illustrates the importance of this movement and what it may take for banks to get there.
Another day, another challenge.
Again, it’s to do with the move from the physical distribution of paper to the digital distribution of data (my favourite mantra of the moment) and the way in which things change.
Think of it this way, I’m talking to a company about relationship management.
Their view: it all comes down to a trusted advisor and that person is your human connection in the branch.
That relationship is where the trust lies, not with the bank or the industry or the brand, but with the human or humans you deal with in the branch.
When we talk about rebuilding trust in banking, the trust was lost in the industry, the bank and its brand, but not with the human you relate to in the bank: your personal account manager.
I totally agree.
Read more at Financial Services Club Blog
Digital Banks have a completely different culture to Physical Banks
Banks Falling Behind Pace of Innovation in Mobile Apps
A new survey by CSC and Finextra found that many banks struggle to quickly release new mobile apps, citing competition for internal IT resources.
The proliferation of new devices and operating systems makes the pace of change in mobile hard for many organizations to keep up with. But banks seem to be particularly apt to fall behind the pace of innovation in mobile, according to a new study released by CSC and Finextra.