Digital CX Technology: The Edge Local Financial Institutions Need

In recent years, there has been a rapid growth in the demand for digital solutions among community financial organisations. It has become increasingly clear that the approach of “one-size-fits-all” to customer engagement will not suffice. This is because, these days, both young and old customers demonstrate a wide range of preferences. Traditionally, community banks and credit unions have been built on the foundation of strong local ties. However, when it comes to customer management, the large banks have managed to outdo them! According to a consumer survey conducted, credit unions have failed to meet the digital requirements of the younger generations, causing them to approach the bigger banks for their financial services.

A Fresh Perspective

Today, consumers expect financial accessibility on the go! Thankfully, the technology to deliver a great digital customer experience (CX) is becoming widely available to community banks and credit unions. Every institution has different needs, but every bank and credit union must consider four key fundamentals of digital CX as they strive to deliver a seamless omnichannel experience.

1. Leveraging Human Intelligence to Enhance Artificial Intelligence

An organised user experience should be the priority of every communication platform. When making a decision, financial institutions must always review how implementing a new digital tool will benefit their customers. Digital tools should never be implemented as a way to cut costs, but to improve the outcomes of their customers and members.

2. Creating a Mobile-First User Experience

Today, the norm is “on-the-go” services and accessibility is a major factor in a customer’s expectations. Nonetheless, though many consumers are migrating to digital channels, in-branch services remain an integral part of their preferences. To provide an optimal omnichannel experience, community banks and credit unions must identify an integrated platform that enables a smooth transition between physical and digital channels.

3.Unlock the Power of Community Bonding

In contrast to their larger counterparts, credit unions and even community banks are popular amongst consumers due to their local presence. To ensure the user experience is unique and reflects this community-based ethos, human interaction and communication must be prioritised, even via digital channels.

4.Choose an Omnichannel to Prioritise Consumers

An omnichannel platform can provide a comprehensive solution for giving members and customers an optimal user experience, accessibility, compliance, and human-centric services. By combining all these components into one cohesive platform, it is possible to deliver a more seamless and personalized experience that puts people at the centre of their financial lives.

The article was authored by Bahaa Abdul Hussein and has been published by the editorial board of the Fintekdiary. For more information please visit

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