4 reasons digital service will rule in the post-pandemic world
By Pavithra R
The pandemic has created an unprecedented opportunity for progress, and we have seen what we can be achieved when priority is given. While we’re not out of the woods yet, we do seem to be settling into new ways: a post-pandemic world. And thanks to the latest technology, many businesses, including banks and credit unions, have the tools to adapt and even thrive in a remote world. Jack Henry & Associates has outlined four big reasons why digital communication will continue to rule in our post-pandemic world. These are:
1, Expectations have changed
After months of depending on digital services, people will expect these options to remain available. For banks and credit unions (CUs), this means providing tools for account holders to self-serve and access information faster. No doubt competitors are already offering these digital options. Keeping up with the latest technology is now a competitive matter.
2, (Online) Safety should come first
With the increasing shift to digital channels, vulnerability to online attacks will naturally increase. Keeping accountholders’ data safe should be a top priority. Offering a secure online client portal is a must. Providing account holders with a safe way to access their data will not only help protect their business but can protect yours from potential data breaches. Tools like multifactor authentication help share select information without compromising confidentiality and provide clients with peace of mind.
3, Respect your time & your account holders’ time
Technology has allowed us to do more with fewer resources, which is excellent for the bottom line. But having fewer people means that everyone’s time is more precious, including accountholders. By offering them effective ways to communicate online with your staff, you are showing them that you value their time.
Digital self-service technology can also benefit your employees, who can spend less time answering phones and returning emails and more time focused on higher-level tasks. However, there are still times when human interaction is necessary, as technology can never replace empathy. And these exchanges can be made better when managed by employees who have not been overworked by mundane tasks.
4, Optimize the client experience
Organizations that were resourceful amid the COVID-19 pandemic and were able to adapt quickly to new remote work, digital communication was widely and readily adopted by their account holders. By empowering accountholders with digital tools, not only are their expectation met, but you’re also respecting their time. Another positive is that every time account holders can self-serve, your team is available to work on higher-value task.
Simply put, customers and members have adapted to relying on digital lines of communication when it comes to interacting with their banks and credit unions, and that’s not going to go away just because doors are fully open again.
Also, read Cool FinTech Report 2021