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June 05, 2024

Sarah Satterfield


VP of Experience

Thoughtful FinTech UX can influence the journeys of your banking customers to increase their lifetime value.

Customer Relationships & the Fintech Crowd

For financial service providers, customer relationships have always been the secret ingredient to lasting brand loyalty and maximizing customer lifetime value. Traditionally, banking relationships were built through branches or in-person interactions, legacies and one-on-one personalized service. In some cases, for the over-50 generations, that remains true. But with over 65% of the U.S. population utilizing FinTech products and services today, finding new ways to build and nurture those relationships is critical. How do we create genuine trust, reliability, credibility and personalization with the online experiences replacing offline engagement? Here are five ways to leverage digital touchpoints to connect with modern banking customers in meaningful ways:

  1. Create effective micro-interactions during everyday engagement: Whether checking their balance, transferring money, or looking for customer service, a FinTech user’s day is filled with micro-interactions. It’s important not to overlook these utilitarian engagements as a way to connect with your customers.

    A frictionless user experience that makes tasks easy and efficient can reinforce reliability. In our daily reality of multi-tasking, interfaces that feel intuitive and easy to use can keep your customers coming back for a familiar, stress-free experience that simplifies their daily lives.

    Even fintech digital customer service interactions are an opportunity to converse with customers. Strive to provide the same caliber of customer service they could get in person by offering quick resolution, anticipating their needs and simply saying, “Thank you.” Deep knowledge of your customers’ goals, carefully crafted user journeys, and infusing your brand voice into even the smallest interaction can help you connect in meaningful ways. There are also innovative opportunities to leverage AI to help predict your customers’ needs and personalize each customer’s unique journey.

    Analyzing your customers’ behaviors and frequently accessed features can help you design predictive and personalized tips, tools, experiences and resources that will help them complete their tasks faster or allow them to explore topics on a deeper level.

  2. Offer the best tools with built-in solutions: Part of the FinTech appeal is pocket access to tools that give you immediate financial planning or management information. From checking your credit score to estimating a loan amount, these tools can help your customers on their financial services journey.

    Offer tools commonly searched for by customers and ensure they’re easy to use and accurate.

    Incorporate a “next steps” action into your tools. Once the customer gets an initial result, be sure to tee up your products or services that help them take the next steps with your organization and to reach their financial goals. For instance, if you offer a tool that estimates loan payments, follow up the interaction with your suite of lending options and a simple path to a loan application.

    Carefully plan the distribution of your tools and position them strategically within the customer journey to increase engagement and awareness. Some users may seek out tools but others may need a little more encouragement and opportunity to try them out.

  3. Meet your customers where they are in life: As our customers’ lives change and grow, so do their FinTech needs. Leverage your digital touch points and customer data to reach customers at every new stage.

    Robust analytics and customer-first technologies like customer data platforms are a strategic way to learn what your customers need and provide you with smart, automated ways to serve up relevant content, resources, products and services. These approaches can take time on the front end but the results are worth the investment. Personalization is a great way to show your customers that you can anticipate and meet their needs. A deep understanding of your customers through data is a great way to forge relationships in the digital space and support them throughout their financial journey.

    Tailor your marketing strategy to speak to segmented customer demographics through digital channels such as email and social media. Sometimes all it takes is the right conversation starter with the right customer, in the right place, at the right time to increase your conversions and strengthen customer relationships. Mass marketing is faster but customers sometimes see these communications as “junk” or “spam” if they don’t feel tailored to what they need right now. Let the customer journey inform your content and marketing strategies.

  4. Be ready with relevant and timely topics: You’re a thought leader in your space and you want to build trust with your customers through your digital channels. If a customer has questions about trends or what’s happening in the market, have the answers ready and accessible.

    Create and maintain a digital content strategy that addresses burning questions. Through keyword and industry research, stay on top of topics that are important to your customers. Choose accessible digital channels and content formats, then create easy-to-digest content like video and infographics.

    Financial literacy is something FinTech customers seek out. Create content that provides clear explanations, helpful tools and resources that fuel an educated financial journey. Empower your customers with knowledge and insights while highlighting the value your organization provides.

  5. Be persistent and consistent across your channels: Whether you’re creating a podcast, a shareable piece of content, or marketing your product and services on your website—be consistent in your messaging, voice and tone, and be persistent in your delivery across all digital touchpoints. This positions your brand to be trusted, recognizable and accessible to your customers.

    Digital channels are saturated so be everywhere your customers are. For example, if they miss your email or social media post, you can still connect with them while they’re using your product. Placement should be strategic but holistic for the best visibility.

    Your brand voice and tone play a big part in nurturing your customer relationships. Whether you’re creating a blog, an email, or a text message, your voice and tone let the customer know it’s from you and represents your expertise and perspective.

Reaching FinTech customers and creating meaningful relationships in the digital space is a challenge many organizations face. With intuitive user experiences, strategic marketing and thoughtful brand interactions you can enhance customer satisfaction, build trust and brand loyalty and foster long-term relationships. As an award-winning banking UX agency, see how Alloy helped S&T Bank reach over 16 million users and increase overall conversions by 46%.