All Channels Matter, But It’s About the Experience

Industry Insights: All Channels Matter, But It’s About the Experience

Engaging Consumers with True Omni-Channel Banking

Transactions continue to migrate from branches to digital channels. Gartner predicts that customers will manage as much as 85% of their banking without human interaction by 2020. But branches are still vital. Financial Brand says that 60% of traditional banking products are sold there.

Reaching consumers means developing a strong omni-channel strategy, encompassing digital, physical and innovative hybrid methods. Giving consumers as many options to do business with your institution as possible makes good sense. And your planning and strategy is needed now, regardless of where you are in your current evolution.

The key is creating a user experience that is consistent and seamless across all channels. Financial Brand predicts this consistency will soon outpace price or product as a competitive differentiator. A significant corollary identified by Alogent and others is that giving priority to the consumer experience can suffer when decisions are made by institutions from within channel-based management silos.

Where do you stand? We’ve harvested half a dozen articles showing different aspects of why you need omni-channel strategy:

About the Industry Insights Series

Alogent’s Industry Insights—this blog and the companion newsletter series—track insights into transformative financial technologies as they happen. Our diverse team of experts pulls the threads together and weave in thoughtful—often actionable—analysis to help banks and credit unions keep their competitive edge and meet new generations of consumers where they’re going next.