One in three under 40 switch banks to get a better mobile experience as customers want more personalized two-way interaction
Customers want two-way, real-time interactions that can solve banking problems as they happen, no matter where they are. Fifty-three percent are frustrated when they cannot reply to a mobile message and one in three under 40 who have even switched banks to get a better mobile experience. This desire for personalized banking and being able to communicate easily is more pronounced in younger customers, as over 80% of Gen Z surveyed want to solve even more complex tasks using digital channels including completing a loan application or sharing personal information to get tailored financial product recommendations.
Getting answers instantly
In addition, 98% say they want their questions answered quickly, but just 58% experience this. While most banks offer support via email or in-app communication channels, they have yet to capitalize on the opportunity to connect 1:1 with customers and build stronger relationships through text messaging.
It's about securing trust
The research shows a positive technology experience is highly correlated with securing consumer trust. Banks that do not deliver on good experiences are significantly less likely to have customers that say they trust their banks. Trust is also gained by knowing when human interaction with a customer is needed. Even with widespread usage of automated chat options, in moments of frustration customers still want to hear a human voice; 95% of those surveyed want an option to switch seamlessly from automated messaging to a human conversation from inside the messaging stream.
“Our survey shows that omnichannel engagement is fast becoming the answer for banks to improve customer experience,” said
The online study of 2,980 consumers across 15 countries was conducted by
About Sinch
Sinch’s leading cloud communications platform lets businesses reach everyone on the planet, in seconds or less, through mobile messaging, email, voice and video. More than 150,000 businesses, including many of the world’s largest companies and mobile operators, use Sinch’s advanced technology platform to engage with their customers. Sinch has been profitable and fast-growing since its foundation in 2008. It is headquartered in
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