How Banks can Improve Customer Experience

💪 Transforming Organizational Culture: A Blueprint for Customer-Centric Success 💪 In my last article, I highlighted how traditional banks and credit unions can transform to become more customer-centric. But transformation doesn’t stick without cultural change—and culture starts at the top. From 21 years with ING Direct and Tangerine, and more recently working with tech and fintech companies, one thing is clear: a customer-first culture doesn’t happen by accident. It takes deliberate effort and leadership commitment. Here are 9 practical ways to embed customer-centricity into your culture: 1. Lead by Example 🙋♀️ Executives must model customer-first behavior. That means engaging directly with customers and frontline teams—not just reading reports. 2. Articulate a Clear Vision 🤩 Define what customer-centricity means and how every role contributes. From the mailroom to the risk team—everyone impacts the customer experience. 3. Empower Employees 🤝 Give people the tools and authority to solve customer problems. Ownership fuels accountability. 4. Invest in Training ⏳ Ongoing learning in empathy, problem-solving, and listening is critical. Evolving customer needs demand evolving employee skills. 5. Align Metrics and Incentives 🔢 Tie performance reviews and rewards to NPS, CSAT, and customer feedback. What gets measured gets improved. 6. Break Down Silos 🧨 Customer experience is cross-functional. Product, marketing, fraud, risk, and service must collaborate to deliver a seamless and secure experience. 7. Listen—Relentlessly 🩺 Create feedback loops with both customers and employees. Executive roundtables with frontline staff can surface real-time insights. 8. Celebrate Wins 🏅 Regularly recognize employees who go above and beyond for the customer. Storytelling builds momentum. 9. Embed and Repeat 🔁 Cultural transformation isn’t one-and-done. It needs to be reinforced through leadership accountability, routines, and agenda time. Conclusion 🧱 Customer-centric culture is built brick by brick. But when done right, it delivers lasting loyalty, growth, and employee pride. If you're a bank, credit union, neobank or fintech ready to embed customer-centricity into your DNA, I’d love to help. Whether as a C-level leader or advisor, I bring experience that turns strategy into results.

📊 𝗗𝗮𝘁𝗮 𝗜𝘀 𝘁𝗵𝗲 𝗡𝗲𝘄 𝗖𝘂𝗿𝗿𝗲𝗻𝗰𝘆: 𝗛𝗼𝘄 𝗕𝗮𝗻𝗸𝘀 𝗖𝗮𝗻 𝗨𝘀𝗲 𝗜𝘁 𝘁𝗼 𝗥𝗲𝘀𝘁𝗼𝗿𝗲 𝗣𝗲𝗿𝘀𝗼𝗻𝗮𝗹𝗶𝘇𝗲𝗱 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 The personal touch in banking is fading, and it’s clear that customers are feeling the loss. About 70% of consumers, and an even higher 77% of top earners, are craving those personalized interactions that make them feel valued and understood. When banks 🏦 overlook this need, they risk more than just a dip in satisfaction—they’re putting customer loyalty on the line. High earners, in particular, are likely to take their business elsewhere if they don’t feel a personal connection. Can banks really afford to ignore this? Here’s how to rebuild that personal touch using data: 🏹 Data-Driven Profiles: Create detailed customer profiles to understand individual preferences, spending habits, and goals, tailoring every interaction. 🏹 Predictive Analytics: Use predictive analytics to anticipate needs and offer personalized services like savings plans or investment options. 🏹 Customized Communication: Identify each customer’s preferred communication channel and tailor your outreach to meet them where they are. 🏹 Dynamic Recommendations: Suggest products and services based on life stage, financial situation, and personal interests, making customers feel understood. 🏹 Real-Time Personalization: Implement real-time data analysis to deliver instant personalized experiences, like special offers during branch visits or online banking sessions. By leveraging data in these ways, banks can reignite the personal touch that customers are craving, strengthening relationships and fostering loyalty. How are you using data to bring back the personal touch in banking? Let’s discuss. ⬇️ #customerrelations #bankingindustry #personalization #innovation #smallbusiness #finance

What CTOs in Banking Should Do with AI for Customer Experience A few months ago, I sat with the CTO of a major bank who shared a familiar frustration: “We’ve invested millions in AI, but our customer experience hasn’t improved the way we expected.” I asked a simple question: “Are you using AI to solve real customer pain points, or are you using it because it’s expected?” That conversation led us down a path that many banking leaders are navigating today—leveraging AI not just for efficiency, but to truly enhance customer relationships. AI and the Future of Banking Customer Experience The global AI in banking market is expected to reach $130 billion by 2030, growing at a CAGR of 32% (Allied Market Research). This isn’t just about chatbots or fraud detection anymore; AI is redefining how banks engage with customers at every touchpoint. McKinsey reports that banks effectively using AI can increase customer satisfaction by 35% while reducing operational costs by up to 25%. The challenge, however, is execution—CTOs must ensure AI is seamlessly integrated into both digital and human interactions. How Leading CTOs Use AI for Customer Experience 1- Hyper-Personalization Example: JPMorgan Chase uses AI to analyze customer behavior and provide real-time loan and investment suggestions, increasing engagement by 40%. 2- AI-Powered Virtual Assistants Example: Bank of America’s Erica, an AI-powered assistant, has handled over 1.5 billion interactions, offering personalized financial insights. 3- Predictive Analytics for Proactive Engagement Example: A European bank using AI-driven insights reduced customer churn by 22% by proactively addressing financial concerns. 4- AI-Enhanced Fraud Detection Example: Mastercard’s AI-based fraud prevention has reduced false declines by 50%, improving trust and security. A Real-World Impact: AI in Action One of our banking clients struggled with high customer complaints about slow loan approvals. By integrating AI-driven document verification and risk assessment, approval times dropped from 5 days to 5 minutes. The result? A 30% increase in loan applications and a significant boost in customer satisfaction. The Human-AI Balance in Banking Despite AI’s capabilities, customers still value human interaction. 88% of banking customers want a mix of AI-powered convenience and human support when dealing with financial decisions (PwC). The key for CTOs is to balance automation with empathy—ensuring AI enhances, rather than replaces, the personal touch. The Road Ahead AI is no longer a futuristic concept in banking—it’s a strategic necessity. CTOs who embrace AI for customer experience, not just efficiency, will lead the industry forward. At Devsinc, we believe the future of banking isn’t just digital—it’s intelligent, personalized, and deeply customer-centric. The question is, are we using AI to replace transactions, or to build trust? Because in banking, trust isn’t just a feature—it’s the foundation.