Because of this, financial services companies are presented with a huge opportunity to engage consumers and add value to the overall user experience.
However, these companies must first understand what digital consumers want and how to address the challenges that lie ahead.
In this post we will address the following topics:
How are digital consumers banking today?
What do digital consumers expect from financial companies?
What are the main challenges facing financial anguilla email list 7582 contact leads companies when going digital?
How can financial companies build trust around digital payments?
Final thoughts
Keep reading!
How are digital consumers banking today?
For the most part, users are comfortable managing their finances online. In fact, approximately 60% of the entire Internet population in the United States visits at least one of the top 20 financial institution websites on a regular basis.
In contrast to 26% last year, in 2021, 32% of consumers surveyed prefer to bank online and avoid their local branches altogether.
However, there are still some consumers who want the best of both worlds: digital banking and in-person banking when necessary .
Now, when it comes to users relying on local branches, there has been a considerable reduction since the pandemic started. Before the pandemic, 42% wanted to go to their local branch, but after the pandemic, this number dropped to 35%.
All these percentages are due to the fact that users feel increasingly comfortable with digital banking.
This is particularly true with the younger generation, who are open to alternative banking options, such as online banking. This is expected to continue and local financial branches will become less and less relevant.
What do digital consumers expect from financial companies?
Digital consumers want to ensure they continue to receive a personalized experience from online financial companies. Personalization is very strong in physical banking and it is imperative that this is carried over to digital banking.
Consumers are unhappy with big financial companies because of the endless fees they charge, especially when they consider the limited or incomplete financial advice they receive for being a loyal customer.
