Prioritizing Human-Centered Banking Experiences

Even as demand for digital continues to rise, people want their banks to remain human

Given all the chatter about ChatGPT and artificial intelligence (AI) moving into banking, new trends and data outlined by the Financial Brand makes it clear that even as banks meet consumers’ digital demands, people want their banks to stay human. “Customer journeys in banking have grown increasingly complex,” says Jim Marous in the Financial Brand article. “But more than three-quarters of customers want to be able to engage with a human at the touch of a button.” Beyond customer service, human interaction and engagement remains a core component of consumer banking.

“Digital channels are optimized primarily for simple transactions and tasks, such as opening accounts, viewing balances, depositing checks and making payments,” according to Dan Mercurio in a BAI article on human-centered counsel. He says even when authored by an expert, most banking advice in digital channels consists of generalized (and sometimes generic) content in blogs, articles and video modules. “Why aren’t banks leveraging their now-robust digital channels to discover customer needs and efficiently connect customers with the right bankers and specialists?”

With trust as the foundation of the best banking experiences, financial institutions that use a human-centric approach are finding the most success. “Empathy-driven strategies focus on retention and long-term loyalty,” says Javier Puga, EVP of Unblu, in an article on humanistic digital banking. “That means investing in customers at more advanced stages of the customer lifecycle, ensuring their interactions are as convenient and human-centric as new ones.” In this role, technology is an engagement accelerator, a catalyst for how banks meet very human needs.

While technology will undoubtedly impact banking in ways both supportive (think: efficiency) and challenging (think: scams), institutions that focus on designing and deploying the right mix of digital and human will deliver a better total experience journey for customers. “Perhaps the most important reason bankers will remain critical is that AI will not be talking to customers within a branch, in a grocery store or at a civic event,” says BankMechanics’ Dave Martin in American Banker. “Human interaction and expertise will remain integral in building customer trust and deepening banking relationships.”

If you’re a banking leader looking for experience strategies customized to your financial institution, get in touch with the experts at Adrenaline. And don’t forget to subscribe to Believe in Banking to stay up to date with the latest news impacting the banking and credit union industries.