5 steps to improve your digital banking services

To stay competitive, your financial institution must bet on a platform that empowers them to deliver personalized, secure, and innovative digital banking experiences. Here are 5 takeaways that can put you on the right path.

1. Enhance user experience

According to our UX-UI expert, Paula Oliveira, prioritizing an excellent user experience when navigating a banking app or desktop is essential. This means having a clear and user-friendly UX-UI design system that supports your UX strategy and guarantees high accessibility, as well as a differentiated design with superior control. 

Your digital banking platform should guarantee cross-channel optimization by utilizing the latest technologies from Apple (iOS), Google (Android), and Microsoft (web development) to provide an omnichannel experience.

This ensures that users can initiate a task on a mobile device and seamlessly continue it on a desktop or tablet without losing progress while maintaining a consistent design across all devices. 

2. Offer customization

As the world becomes more tailored to individual needs, banking users seek the ability to customize their digital accounts with a personal touch. Financial institutions must ensure this flexibility by allowing users to upload profile pictures, switch between languages, use dark mode, and rearrange or hide widgets.

The ability to save recurring transactions such as rent or allowances for quick access in "favorites" will also help users save time and reduce frustration, which is positive for your financial institution in the long run.

As users customize their dashboard it will reflect their preferences, making it a powerful and highly personalized financial management tool. Your digital banking platform, by enabling your account holders to create their own unique banking journey, will only boost customer satisfaction.

3. Foster customer loyalty

To enhance customer loyalty, it is crucial to offer personalized and user-centric banking experiences by utilizing data analytics tools. These tools provide comprehensive reports on user engagement, including metrics such as the number of users logging in, their login times, and the effectiveness of new digital channels in capturing user interest.

By analyzing this data, financial institutions can refine their marketing strategies and improve customer service, thereby fostering stronger customer relationships.

Provide your account holders with what they want, precisely when they need it as customers are more inclined to remain with a bank that recognizes and addresses their unique needs and preferences. 

Not to mention that happy and loyal customers are more inclined to suggest their bank to friends and family, resulting in natural growth through word-of-mouth recommendations. Exceptional customer experiences can greatly enhance a bank's reputation.

4. Generate code fast

Technological innovation keeps accelerating, and one must keep up to avoid being left behind. A quick solution to offer your banking users new features and products is to use a low-code solution with built-in features and code templates that accelerate  the development of your projects, saving time and resources.

The ebankIT studio, for example, is a low-code solution with a visual drag-and-drop interface that facilitates visual and functional customization. Its modular, API-driven development eases third-party integrations, enabling financial institutions to keep a competitive edge. AI assistance is also available to boost development staff efficiency and enable integration partners to customize and extend the platform further.

5. Give emphasis to SMB and corporate

While retail is a crucial segment for financial institutions, it's essential not to overlook small businesses and corporates. Features such as bulk operation approvals, management of digital channel settings, delegate oversight, and rule approvals can streamline processes for businesses and corporations, ultimately providing long-term advantages to your financial institution.

In terms of security and usability, offer advanced authentication and low-friction multi-factor security options, along with an operation history log that tracks omnichannel activities beyond transactions, assuring your account holders of the utmost security for their funds.

Embrace digital banking with ebankIT

The rapidly evolving landscape of digital banking demands that financial institutions adapt swiftly to meet the expectations of modern users. By focusing on enhancing user experience, offering customization, fostering customer loyalty, accelerating development with low-code solutions, and catering to small business and corporate needs, banks can position themselves as leaders in innovation.

These strategies not only ensure a seamless and personalized banking experience but also build a loyal customer base that can drive growth through positive word-of-mouth. As the industry continues to transform, those who embrace these changes will thrive, securing their place in the future of banking.

ebankIT provides two innovative pathways: the "Turnkey" option for those seeking a ready-made, standard solution, and the "Extendable" option for users aiming to innovate, expand the platform, or connect with third-party fintech partners.

The platform supports various customization levels, including the "Bespoke" option, which offers a completely personalized user experience tailored to specific requirements. Whether users desire a standard setup or a distinctly different design, ebankIT can meet these preferences.

Ready to be a digital banking leader?