The combined force of physical and digital environments is truly positive for financial institutions and members. Consumers are engaging with institutions in the offline and online world – trying on shoes and later buying it online, or researching a car on a website and then walk into a dealership to buy the one they saw. As these two spaces blend more closely together, institutions also gain the ability to concretely understand their customers’ likes, dislikes, and communication preferences.
Customers are still interacting with digital and physical channels and this is a mandatory step in the digital transformation the financial sector is experimenting.
Integrating digital and physical channels also offers better insights into customer behaviors and help strengthen loyalty. To maximize the benefits from the merge of these two distinct universes, financial institutions need to take a few key actions.
In this case I want to propose one way to combine it.
Offer benefits to your members
There is a huge opportunity in the use of digital channels to offer benefits by making alliances with local companies.
This could be done by having a specific sector to advertise within your digital channels where the institution can advertise companies such as restaurants, gas stations, clothing stores, for example.
These partnerships with companies can be through economic deals or simply by offering to participate in our communication in exchange for granting benefits such as discounts or promotions. This is a way to monetize our marketing area and also to give our members benefits in local stores that they will appreciate when it comes to being faithful to our proposal.
In this way we combine our strength digitally with physical benefits for members.
From Bankingly we are sure that digital is a priority for the future, but we also know that physical presence is also very important in the early phases of a financial institution digital transformation. That’s why combining both worlds can be key in the race to give our members what they really want.
Bankingly, one of Latin America’s leading providers of world-class digital banking channels to financial institutions, announced today that it has raised $5.25Mn in a round led by Elevar Equity, and in which The Rise Fund, through its co-investment partnership with Elevar Equity, and Endeavor Catalyst also participated. Through its software as a service solution (SaaS), […]
Financial institutions’ clients go less than twice a week to the branch or a physical location of their institution. According to a March 2017 study published in The Financial Brand, the millennials moves themselves due to their financial institution 1.9 times on average per month. When from Bankingly we conducted the study ‘What financial institutions […]