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9 tips to optimizing digital customer journeys for financial institutions

8 minutes

Customers expect a certain level of service, convenience, and security when they interact with their financial service provider—and today's consumers increasingly demand it in every aspect of their lives. To deliver on this expectation, financial institutions need to evolve digitally according to their customers' changing needs. This means adopting new technologies such as artificial intelligence and augmented reality, prioritizing customer experience and investing in innovation through no-code platforms, or partnering with third parties to stay competitive.

Step 1: Identify customer needs

The first step is to identify the customer's needs and wants. This includes understanding what the customer considers important and how they currently interact with your digital channels.

Conducting user research, such as usability studies, is a great way to determine what features are most desired by customers.


With this information in hand, you can take steps like implementing chatbots or voice assistants into your online service. These improvements to the digital journey will help eliminate some of the everyday customer complaints about their experience.

Steps to take:

  • Invest in research and user feedback sessions with customers
  • Create a digital journey map for each market segment or target audience
  • Build personas based on new insights into what different types of users want out of your services
  • Differentiate between customer needs versus wants

Step 2: Create a strategy for each of these needs and wants

The next step is to prioritize improvements to customer journeys based on information received in step one. Identify which digital interactions create value, and then prioritize features based on ROI potential.


For example, if customers need better support, consider implementing chatbots to help customers with their questions on account information or fraud alerts. Voice assistants are another way for banks to improve the customer experience by reducing wait times in call centers.


Step 3: Identify the digital customer's journey from start to finish, and focus on the gaps

This step is to identify the journey, gaps, and other areas where customers may feel frustration. This can be done with a customer service map or by interviewing stakeholders who are an integral part of the process.


Step 4: Optimize your digital journey on an ongoing basis

Launching a digital journey is not enough. Continuous optimization is key to creating outstanding customer experiences. This step is to optimize the journey by filling gaps and meeting customer expectations. 

Steps to take

  • Identify what your customers want most from you through surveys, feedback channels, or interviews with stakeholders.
  • Improve how people find information about you online. People should be able to easily access the information they need without having to contact your support.


9 tips for better customer journeys


Embrace Omnichannel

Omnichannel is the integration of customer touchpoints to create a seamless experience. Communicate with customers through email, social media, or phone calls to create a frictionless, channel-agnostic experience. 


Gain customer insights through data analytics and research

Measure your customers' progress along their journey so you can identify pain points, which will help you make better decisions for the next time they visit.


Use Data Analytics to Identify Pain Points

Monitor your digital journeys to know where to make improvements and regularly optimize to meet changing customer expectations. Use aggregated data to develop a more holistic understanding of your customers and optimize journeys at scale.  Use digital data to create personalized marketing messages, offers, and experiences that resonate with each customer segment.


Personalize digital journeys

Use your customers' behavioral and collected data to understand their needs and wants better.

Provide personalized customer service when contacting you for help on social media, email, or phone calls. Help them with what is most important to them right now. Provide helpful information about upcoming features in the product/service, so they know how it will benefit them directly once


Prioritize mobile experience

Mobile is the future. Make sure your mobile experience is seamless and easy to use. Customers want to trust financial institutions, and they're more likely to do business with them if they know your service is available on their preferred channels.


End-to-end digital journeys

Digital journeys must cover the interaction end-to-end, including any actions your customer must take, such as esignatures, document uploads, KYC. The key is not to interrupt the experience and force the user to jump back and forth between different modes of communication. 


We get that there are many ways your customers do business with you. Making sure they can easily access all of those services through one login is crucial for customer satisfaction. Providing multi-channel digital journeys will help make their experience more seamless and frictionless. 


Integrated with internal workflows

Digital journeys cannot work in isolation; they must be fully integrated with internal processes, workflows, and systems to create a seamless customer experience. 


Take stock of processes and systems already in place, and make sure these systems are integrated with your digital journey to ensure the best possible result for both customers and employees.


Include all stakeholders

Digital journeys serve the customers and internal stakeholders, such as your employees, agents/brokers, or resellers. So it is vital that you involve them in the process and consider their feedback. 


Optimize on an ongoing basis

Digital journeys are not "set it and forget it" type of projects. They must be optimized on an ongoing basis to ensure your digital journey meets the needs and expectations of all stakeholders involved and that it continues to do so over time.


How does the no-code fit into all this?

It's no secret that the ways of financial services customer experience and the industry alone are facing many changes. New regulations are introduced; customer expectations have risen, there are more demands for data transparency. These developments will make it challenging to keep up with your digital transformation goals without some help from technology.


No-code is a new way to design and build digital journeys. It enables financial institutions to get started quickly, without hiring developers or investing in expensive tools upfront. Start with no-code, and you will be able to create functional prototypes that represent the completed product in all its glory within weeks—and even days.


No-code empowers financial institutions to deliver and optimize digital customer journeys at a fraction of the time and cost of traditional digital transformation solutions.

Vera Smirnoff

Vera Smirnoff is the demand generation manager at EasySend. She covers digital transformation in insurance and banking and the latest trends in InsurTech and digital customer experience.