With all of the technology that is available these days, one would imagine that bank customers would be willing to use online banking services to complete transactions. In fact, when you take into account various factors such as the time taken to go to the branch and wait in line during strict banking hours and managing a huge load of documents which have to be signed and approved by impatient bank tellers, online banking would seem like the perfect option. However, that has not happened. Online banking has not managed to raise the expectations of customers to the levels one might imagine. Websites which provide poor user experience and compliance issues have led to customers not being able to utilize online banking services to their full potential.
Have you ever found yourself stuck while trying to transfer money to the account of a friend or family member and facing an error on the website of the bank? Have you ever felt exasperated because of the mismanagement of your scheduled payment
s? Almost everyone who has used an electronic banking platform has found themselves facing one or more issues related to the online banking service offered.
There are a number of ways this problem can be solved.
Avoid too much design and content
When it comes to banking websites, less really is more. Make sure that only the needs of the customers are handled, and nothing more.
It is important to present rich, useful content in a way that does not confuse consumers.
Convey a positive message
Conveying a positive message to the customers might seem like a simple idea, but it is not often so. For example, the goal of a bank is to form a clear source of revenue by collecting fees and having high interest rates. However, no intelligent marketing professional will try to attract customers by mentioning the fact that the bank charges high interest rates or has extra fees. Even though the customer should be aware of the information, it is also important to ensure that a visitor takes away a positive message from the banking site. Providing supportive call-to-actions along with other attractive content will help visitors feel valued.
Interactivity and self-service
No matter how well a site is designed, there will always be someone who doesn’t know how to use it. Fortunately, numerous banks have tried to address this issue by providing interactive services like e-mail help and secure chat. Support is an essential part of creating an interactive and holistic journey for the customers. Extensive online tutorials and help files could distract the online banker from the user interface. This creates a frustrating and time-consuming experience which could increase the drop-off rate, decreasing the revenue of the financial institution.
Therefore, it becomes imperative that banks implement a system which tackles all the problems faced by online banking customers. This will improve the efficiency of the banking system which helps bring in more customers, leading to increased revenue for the institution.
Nowadays, there are several third party services and technologies which are flourishing in the banking sector. With the advent of cloud computing, there are a lot of companies which have software-as-a-service offerings. WalkMe is one such innovative technology which can be used to create a faster, simpler and more efficient experience for online banking customers. WalkMe not only guides the visitors of the page effortlessly through information which may be too technical for some people, but also encourages them to use the software to help them meet their needs. The adoption of a self-service mentality by the customers helps them learn more about the e-banking services on offer, while boosting their experience. It also helps reduce training costs since there is no need to hire employees to interact with customers.
Overall, solutions such as WalkMe are a great way of attracting online bankers, which helps improve the revenue of a bank.