Customer service, mobile services, social networks… The private banking sector is strongly affected by economic digitalization. In a hyper-connected society, banks have started to offer a multitude of new tools to their customers.
The arrival of new technologies:
Nowadays, it is difficult to maintain market shares if digital services are not provided. These services can take several forms:
– Digital investment platforms
– Social networks: increase your engagement rate, your interactions…
– Open banking
– Website (customer experience, audience…)
– Digital brokerage
– Innovative security solutions
Why go digital?
- On the customer side:
Over time, services have modernized and customer demands have become increasingly sophisticated, which banks have been forced to adapt to.
One of the main triggers for the digital age was the Covid-19 crisis. A number of transactions had to be carried out remotely. But preventive measures became habits 3 years later.
- On the banking side:
For banks, some new advances allow a reduction in costs thanks to automation systems.
But beyond costs, we must think about the future. By automating processes, a new generation of customers will emerge. They will be looking for more speed and efficiency in the process.
However, private banks should not neglect customer contact. This is part of the business and will differentiate you from your competitors.