Informed and demanding customers
Informed customers
(Future) customers are increasingly informed and autonomous in obtaining information and are entering into contact with their bank later and later in their decision-making process. They have easier access to information, research the competition's offers, compare products and services, etc. Finally, when contact is made with the advisor, the (future) customer no longer expects to be presented with a generic presentation of the range of offers in store, but rather to be able to answer their personal questions and any anxieties that may still be present.
Demanding (and impatient) customers
The famous GAFAM and other former unicorns have revolutionized the uses and expectations of users. These new uses have become standards for users, and this, for all their needs. A banking customer needs immediacy in his daily requests and understands less and less why he has to go through an advisor to process certain transactions or even wait days to receive a processing confirmation.
Customers in control of the relationship
Faced with the multitude of points of contact (physical, telephone, online form, email, SMS, WhatsApp, social networks or even voice assistants , etc.) and the increasingly annoying users with prospecting, the (future) customer becomes the master of the relationship with his (future) advisor and the possibility of switching between human relationship and exchange with a tool . To put it slightly more clearly, it is he who decides the points of contact with his bank and by what means.
"The challenge for retail banking and customer advisors will be to develop their relationship with their (future) customer by interacting in a personalized manner and across multiple channels"
Disruptive new entrants
These new uses, the new entrants (Online Bank, Neobank) have understood it well by placing customer expectations at the heart of their strategy and by offering simple, automated and fast services. Whether online banks or neobanks, they integrate digital services and omnichannel monitoring into their offers, often free of charge.
But all is not lost. The "digital divide" between traditional players and new players is narrowing year after year (see the study Digital Proposition of Retail Banks in France by d-Rating ) and their agility could decrease as they grow. And above all, these new players will never have the strength of traditional retail banks: the proximity of a network!
"The challenge for retail banking will therefore be to find the right balance between digitalizing low-value stocks and humanizing the relationship for more advice"
Use cases :
Sonia, after buying her house with her partner, is wondering about retirement. Indeed, with the pension reform, she is wondering how she could have a supplementary income and thinks that after having invested in her home, it might be a good time to think about saving for the long term.
To do this, she begins to inquire on specialized sites and now knows the main ways to achieve this (life insurance, SCPI, etc.). However, she cannot understand the advantages of each and always wonders if she will be able to recover her belgium telegram data savings if she needs to. Unfortunately, with her research, many prospecting calls promise her the moon by investing in rental property to save on taxes (which does not correspond to her needs or her values).
She cuts the conversations short and to answer her questions, she searches for information on her bank's FAQ and notices the presence of a chatbot. So she asks her questions directly online and manages to find out how the release of savings works depending on the solutions but she still can't make up her mind (which solutions in relation to my current debt? in relation to my salary? in relation to my values? ...). So she makes an appointment online with her advisor via a button in the chatbot.
The advisor then receives all the information from the chatbot and during the meeting at the agency, he analyzes the elements that the chatbot could not do with Sonia and suggests that she invest in SCPIs in retirement homes. Sonia is delighted and asks to think about it before being able to commit.
After a few days of reflection, she decides to invest in SCPIs and signs all the elements via an electronic signature. After having filed all the necessary documents on a secure Extranet, she receives a link allowing her to follow the progress of her file and to exchange by video conference with the person in charge of the constitution of the file.
It is up to the advisor to focus on the value of the relationship: the motivations and the context while relying on tools that simplify the customer journey and knowledge: Chatbot, electronic signature, dematerialized file tracking, videoconferencing, etc.
Sonia moved at her own pace and chose for herself the moments of exchange and the moments of reflection. In addition, she appreciated the relationship she was able to have with her advisor.