If consumers can get constant access to services and purchase through their computers, mobile devices and smart home technology, it follows that they would expect a similar level of connectivity (for service, advice and purchases) from their financial institutions. Most of the time, self-service on-demand is more convenient because it’s on the customer’s terms. It’s not a “Millennial thing.” It’s now the primary way the purchasing process begins, if not finishes. According to a recent study by Ellie Mae, 92% of all home borrowers research online before applying.
So what can GonzoBankers do to keep up? Here are six ways financial institutions can prepare to better connect with customers who are nearly all digital-first now.
Excerpted from Sam’s contribution to How banks can follow Amazon’s strategy of constant connection, Independent Banker, March 1, 2019