5 CX Trends for 2023 in Banking

CX or customer experience is critical in today’s competitive world. Any organization in the financial sector that wants to succeed needs to focus on offering a great customer experience. Customers are now demanding a better CX in all areas, including banking. If banks want to boost their business, then they need to start focusing on CX.

It is important that they look at the latest CX trends and start working on them. These are the trends that would be in vogue not only in 2023 but even after that. It is vital that banks focus on these trends and implement them in their operations.

Top 5 CX trends in banking

1) Digital experience that is humanized

Customers want a digital experience for convenience. However, there is a need to humanize the experience. Banks have a challenge to humanize digital experience offered to customers. Using AI (Artificial Intelligence) and AR (Augmented Reality) can help achieve this. Their aim should be to maximize engagement in digital channels while offering a human touch.

2) Personalization

Customers today are looking for personalization at all levels. 80% customers would prefer buying from a purchaser who offers a personalized experience. It is important for companies to use data efficiently. They need to create a robust customer profile that will help them personalize their services. It is important that they start learning from the data they collect, so they use it in the best possible way.

3) Omnichannel engagement

Whether a customer calls the contact center or visits a branch, they need a consistent customer experience. Omnichannel engagement is important to ensure customers are handled right across all channels, whether physical or digital. It is important that customer data be available at all channels, so consistent engagement can be provided.

4) Self-service

69% customers look for self-service options, so they can solve problems on their own. Augmented Reality can play a major role here. Banks can use AR in self-service, so customers have a seamless experience. Banks need to consider different self-service options like tutorials, knowledge base, AI-powered chats, FAQs, messaging, and contact centers that are automated.

5) Total Experience

TX or Total experience needs to be focus for banks. They need to bring together not only customer experience, but also employee experience, user experience, and multi experience. Ensuring a total experience will allow banks to do well. They can keep both their employees and customers happy, which is the key to success.

The article has been published by the editorial board of the Fintek Diary. Happy Reading. For more information please visit www.fintekdiary.com

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