Digital Advocacy Is the Future of Banking

The State of the Industry

1

Deposits are consolidating…

Revenue has flatlined…

… and consumers have more choice.

PLUS — Fintech investment has skyrocketed.

The Question Is: How Do Financial Institutions Stay Competitive?

The Answer: Become a Digital Advocate.

Why Advocacy?

2 Fight for the

account holder!

“Banks are at a tipping point. Their historically stable customer base could erode steadily if they cannot deliver the service proposition that customers demand.”

– Accenture

“Focusing on customer loyalty is no longer just a smart strategy. In an age of empowered customers, it is an imperative.”

– Forrester Research

“Banks today need to look beyond their traditional goals … they must focus their energy on winning customer advocacy.”

– Infosys

“Becoming more customer‑centric should be a priority for all financial services providers.”

– Deloitte

“Retail banks have long been more preoccupied, appropriately, with countering threats of fraud and satisfying regulators … They now face unprecedented customer unrest.”

– Bain

“Focusing on the customer experience is paramount to establishing complete trust.”

– Ernst & Young

ALSO: We surveyed 504 random U.S. consumers. This is what we found…

1. Consumers avoid bad experiences.

2. They don’t feel supported.

3. They’re wary of banks.

4. They’re tempted to leave.

Why Digital?

3

Consumers prefer digital.

They want better mobile experiences.

They’re also using mobile more and more.

How to Move Forward

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How to Move Forward

3

3 Suggestions from Ernst & Young:

1. Make banking simple and clear.

2. Help customers make the right financial decisions.

3. Be proactive in anticipating and solving problems.

In the end, advocacy brings future revenue.

For more on this topic, see the white paper “The Banker’s Guide to Digital Advocacy.”

Thanks for sharing!

The End.