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Industry & Community

Empathic Banking: How banks should interact with their customers

20 November, 2020
BY ebankit

Many banks are still focusing on providing a full Omnichannel solution. However, in this fast-pace world, their sights should already be focusing on creating the digital infrastructure that will enable the financial institution to understand their customers’ lives, not only at the financial level but on their everyday life events in order to provide the needed actions that will support and help the customer.

The Empathic Banking concept, first presented by Gartner, expresses how banks should interact with their customers and members.

The key objective of the empathic bank will be to understand challenges and situations, and by creating context, help the customer navigate their life while providing awareness and solutions.

Empathic banks will work on identifying key business moments in their customers’ lives as a way of triggering actions that truly support their customers’ dreams and aspirations, taking customers’ journeys to a higher level of value.

Banks and credit unions need to create a Digitally Empathic Relationship with Customers by developing an understanding of them across all channels, touchpoints and devices.

By doing so, they will:

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To address all the concerns described previously, it´s necessary to deploy a digital banking platform that enables those concepts in practical terms, delivering life experiences to customers.

In September, we were in an online event that brought the community together, and - among others - we focused on this topic:

 

Empathic banks will work in identifying key moments in their customers’ lives as a way of triggering actions that truly support their customers’ dreams and aspirations, taking customer journeys to a higher level of value.

This will demand the adoption of an agile digital banking platform with the capabilities to gather also non-financial information, create context and pro-actively help with dynamic solutions. The ebankIT platform has all the needed pieces to support the exploration of the empathic experiences/experience banking.



Tags: Industry & Community

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