How to Build an Omnichannel Customer Engagement in Banking?

Companies that implement omnichannel strategies retain 89 percent of their customers than those with weak or no omnichannel strategy.

Fremont, CA: The COVID-19 pandemic has changed the global economy as well as transformed the mobile consumer trends. This outcome has led to companies expanding their digital adoption of products and services that were considered offline, particularly in the banking sector.

Today, banks are elevating their infrastructure to reach where customers are. Although most banks’ physical branches exist, customers are urged to conduct financial transactions through mobile phones or the bank’s website. It also encourages banks to offer a better digital experience through mobile applications by streamlining financial processes via a smooth onboarding experience, simplified transactions like remittances, sending out targeted communications, encouraging contactless payments, and more.

Banks need to create a robust omnichannel banking strategy to engage customers at the appropriate touchpoints to carry out transactions. Companies that implement omnichannel strategies retain 89 percent of their customers than those with weak or no omnichannel strategy. Here are four ways to build an omnichannel customer engagement for banks:

Check Out: MoEngage

Optimize For Every Channel

To engage users intelligently by activating communications throughout all channels like SMS, push and in-app notifications, geolocation offers, and more to push higher engagement.

Smart Recommendations

Implement AI to carry out faster and insightful segmentation to precisely forecast consumer expectations.

Automation tools:

Personalization is crucial in customer engagement, and automation facilitates in providing a seamless, personalized experience.

Get Data-Driven For Everything

Build a comprehensive view of customers by integrating customer data and accounting for all their online behavior to enhance personalized conversations.

Companies need to push their target on ensuring that they offer a seamless experience for customers and engage with them on their respective devices, from onboarding experience to creating behavior based lifecycle campaigns, reactivate dormant or lost customers, and build customized user journey throughout customers lifecycle.