Every customer is a digital customer, period. And that is irreversible. Digital has become more important to customers in every single aspect, although customers have embraced digital technologies at different degrees. It’s known that many customers have become digital-only users, preferring to prospect, purchase and interact online, yet there are customers who still lean heavily on traditional channels, but even they are likely to use available digital channels at different times for certain activities, which shows that there is a fast progression towards digital usage from a customer perspective.
Creating an optimal customer digital journey makes every step and touch point in the buying cycle streamlined, efficient, consistent and personalized from the consumer perspective and, with that in mind, financial institutions and banks must re-imagine their core journeys from front to back by addressing their customers’ pain points, identifying new opportunities to please customers in differentiated ways. The current issue is that the relatively poor performance by a majority of traditional financial services organizations and banks in delivering a customer-focused digital journey, such as account opening, onboarding and cross-selling process has become an opportunity for many companies who want to leverage and embrace the potential of becoming a “Digital Bank.”