Customer Engagement for Banks, Wealth Management, and Lending
Banking at the Crossroads of Digital Transformation
Businesses in every industry strive to meet the high customer service expectations of today’s digitally proficient consumers. Banks, wealth management, and lending and mortgage providers recognized this trend and developed customer portals and mobile apps that granted 24×7 access to account information, balances and transactional data. However, financial institutions must continue to improve the customer experience in banking. A 2018 survey of industry customers by Qualtrics indicated a Net Promoter Score of -16%.
New banks leveraging the latest technologies challenge established providers with legacy core systems. All providers recognize the need to establish a digital differentiation that sets them apart and engages their customers. Some redesign entire processes to more effectively meet their customer expectations, while others implement banking customer experience software without undertaking an overhaul of core systems.
Some financial institutions seek to differentiate themselves with improved banking customer experience, online portals with rich analytics, and clear, straight-forward statements. Others seek to increase revenues by inserting personalized cross-sell and up-sell marketing messages into customer correspondence and monthly statements.
Banks greet all of these challenges with automated yet personalized customer communications regarding account creation, promotions and regulatory notices. Interactive analytics empower customers to research spending and savings habits, investment options, or the impact of accelerated debt payoff. Monthly statements delivered via the customer’s preferred channel improves the customer experience in banking and lowers print and postal costs.
Banking Industry Outlook
Optimism for Banking
There’s a new kind of promise in the banking industry—and possibly no better time than now for transformation. Economic fundamentals are strong, the regulatory climate is favorable, and transformation technologies are more readily accessible, powerful, and economical than ever before. 1
Focus on Customer Experience
Customer expectations are being shaped by their interactions outside of the banking industry – they increasingly want the type and quality of service they receive from industries that place significant focus on customer experience. 2
Ecrion Enables Stronger Customer Connections
From marketing to account creation to statements and self-service analytics, Ecrion’s banking customer experience software strengthens customer interactions, curtails print and postal costs, and fosters loyal connections with customers.
Banks, lenders, and wealth management firms worldwide leverage customer communication software by Ecrion to enhance their customer engagement, reduce operating costs, and control the inherent risks associated with high volume and on-demand document generation. Thousands of companies across a broad range of industries ensure compliance with corporate branding and regulatory standards while establishing genuine connections with their customers—one at a time.
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