Browsing: Bankings

As products and digital experience improve, it’s hard for a bank to stand out. One exception: customer engagement. Proactively communicating and demonstrating care and interest in customers’ financial well-being are the hallmark of engagement. But for many customers, that isn’t happening.

For years, retail banking strategy followed a predictable script: Shift routine transactions to digital channels, downsize physical footprints and route customer service inquiries to centralized contact centers. The underlying assumption was that physical branches were dying embers of a bygone era.

Banks are spending heavily on artificial intelligence. The measurable returns are beginning to emerge – but they are concentrated in specific workflows rather than evenly across the institution.