Creating a great customer experience is paramount to the success of your company, no matter the industry. There are many ways in which companies can do this, but for the financial industry, the easiest way is through banking statements.
Your customers receive banking statements every month. Have you thought about how to provide customers more value through this consistent banking correspondence? Instead of a boring, itemized spending list, have you though about all the other things your banking statements could say?
Powerful Banking Statements
With the right software, your financial institution should have the ability to generate not only accurate banking correspondence, but meaningful banking statements. Right now, can your bank give its customers what they want?
A great customer experience means giving customers what they want, how and when they want it. Customers want their banking statements in the language, mode (print or electronic), and even tone they prefer.
What’s more, you should be able to provide clarity to customers about their banking statements by adding a customized statement walk-through. If a customer is confused about their banking statement, an easily-generated guide will help them understand specific points a little better.
Providing Additional Value
For some of your customers, their monthly banking statement is probably the only correspondence your financial institution has with them. This is an opportunity to provide additional value, while giving you the option to tell your customers about new services.
The challenge for many banks is that data, for the most part, is being managed in siloed, disparate systems, which complicates banks’ ability to know and serve their clients.1 With the right software, your bank can take your customers’ data from many different sources so that it’s managed a little easier.
The software, based on templates, can process your customers’ data and include things such as advertisements, alerts, and more, tailored to the individual. This provides value, which in turn provides a great customer experience.
Increase Revenue While Lowering Costs
It’s actually possibly, with the right software, to lower your overhead, increase revenue, and still create a great customer experience.
Many customers, especially millennials, prefer digital banking statements delivered to their email. If your bank is able to cut down a fraction of printed banking statements, it will save you a lot of money in the process.
Modern banks are now able to increase their revenue by inserting personalized cross-sell and up-sell marketing messages into banking statements. This gives your bank the ability to see a significant ROI, once you find the right software.
Get the Infobrief
Find out how Ecrion banking solutions can help to up your digital game, build compelling and engaging user experiences, and put your customer front-and-center in your communication strategy.