Insights: The three elements of a successful digital banking strategy

Insights: The three elements of a successful digital banking strategy

The Covid-19 pandemic has had a lasting impact on how clients interact with their banks and hastened the transition to digital banking services. Today, online banking services are the norm and customers are increasingly using digital banking services to transfer money and pay for e-commerce purchases. According to a recent survey by Entrust, nearly 77 per cent of consumers in Saudi Arabia and 61 per cent in the UAE – the Arab world’s two largest economies – prefer digital banking. Instantaneous and on-demand responses are high on the consumer’s wish list. As a result, many banking customers are using chat, text, messaging apps, or email instead of calling a phone number or visiting their local branch. It follows that most customers expect a consistent experience across all platforms when conducting any banking transactions. This means they may initiate a dialogue using one channel, such as webchat, and then follow up with a phone call or email, expecting their bank to keep track of the previous interaction. Instead of starting from scratch with each stage, the bank’s customer experience team must have insight into what has already been discussed or agreed upon, as well as the immediate next steps to be