Make digital banking human
The essentials of forming emotional connections
“All banking journeys will start with us as individuals.”
Devie Mohan, Fintech Industry Researcher via
The shift from branch to digital banking has been happening for many years, but the pandemic and other variables have compelled banks to accelerate their digital strategies. For some, digital is simply an opportunity to move existing services to new channels. For others, it’s a chance to form deeper personal connections with customers by offering enhanced products and services built around their unique needs and in turn, the potential to create new value for the bank.
An InsiderIntelligence study shows that more than 77% of the US population (over 200M people) will use digital banking in 2022. That percentage is expected to exceed 80% by 2025.
Emotions are huge drivers in decisions we make every day and a big part of what makes each person unique. Positive emotional connections translate into loyalty, trust, and ultimately revenue for brands. Yet most banks haven’t tapped into the full potential of emotion with their customers. The path to more human banking starts with knowing the ingredients to cultivate deeper connections and understand customers more holistically, empowering them to bank in ways that suit their needs, values, and aspirations.
When banking, I want to feel…
“Hopefulness — I want to feel confident that they can empathize and help me reach my financial goals.”
– Bank customer (USA), Temenos Survey 2021
"Rather than wanting to get straight to the business nitty gritty, the bank was interested in my brand, which for me, is really important — that personal relationship with my business bank.”
– Founder, design industry, Temenos SME Think Space Innovator Series, 2020
“Member experience is so important, because if you don’t get it right the first time, you really don’t have a second chance.”-
VP of Marketing1
1. Pennsylvania State Employees Credit Union
