In the last years more and more businesses have had to move into the online world to grow, or even to survive. But for banks, existing only in the physical world is simply not an option anymore, and, more than that, in 2022, simply being present in the digital world and offering some convenient features, isn’t enough. Banks need to adapt by becoming omnichannel, and by implementing more and more new technological solutions, to keep up with the many different opportunities for their customers out there.
This state of operating in constant change, of course, comes with a lot of challenges, such as old jobs becoming obsolete and the need for employees to learn new tasks and assume new roles all the time. So, each of these changes has to be reflected in their banking compliance training for a smooth transition into a better, more trustworthy bank, apt for this new world.
This is why it’s important to understand the banking trends for 2022, see whether they are indispensable for your organization, and learn how to implement them. Here we are offering three major trends you should consider for your bank.
1. Continuous Investing in Technology and Talent
Banks have always benefited from investing in new technologies and talent. In 2022, in order to offer innovative services and products, overcome digital gaps, and better face current challenges, banks must provide comprehensive and adaptive management of technology and talent. So, digital banking and digitized experience have to be made a priority.
Traditional banks have to strengthen their digital options in light of the rise of digital solutions. One important thing to focus on in 2022 is providing a hybrid client attention solution. Your technological evolution is always aimed at providing value and profitability. Banks also have to reinvent their infrastructure to deliver key banking services such as opening accounts, account management, product sales, bill payments, loan applications, and so on.
Finally, in terms of the newest tech trends, you shouldn’t underestimate the importance of mobile apps. Ideally, you will be able to create an app that your clients love and won’t stop using. However, keep in mind that super-apps or fintech solutions, as well as other alternative payment tools, are becoming somewhat of a threat in that area, so you must learn how to adapt to it. For instance, you can partner up with a super app and offer integration to make sure that your clients don’t bypass your app.
2. Focus on Convenience and Beauty
People who use digital platforms for work, entertainment, education, shopping, different aspects of their personal or professional lives, value design above many other things. So, make sure that any digital channel you are offering to your client is well designed, both in terms of aesthetics and functionality.
Consumers today appreciate their comfort and convenience, as well as businesses that understand how important they are to their clients. When a person visits your website, they should find it easy to navigate, clear, and fast, whether they are using a smartphone or a computer. If you have a mobile app, you should also make sure that it’s easy to use, intuitive, and offers real value to its user. And, you should take care of the visual aspect of your digital channels, just as you would at your physical bank branch.
3. Prioritize Your Clients and Personal Interaction
Аfter implementing all the technological advances and providing diverse digital services, banks now need to go back to creating personal connections. Like most businesses in the last years, financial organizations have been worrying about providing personalized services. But after the pandemic, more and more consumers seek personal interactions regarding their finances over a personalized, digital self-service.
This isn’t to say that artificial intelligence isn’t welcomed anymore. What it means is that clients don’t consider AI and chatbots a meaningful connection, and nothing can replace a real-time interaction, whether it’s through a phone call, a video chat, or in person, with a well-trained, knowledgeable employee. Even the younger consumers from Gen Z, contrary to what you may think, prefer any form of personal interaction when it comes to their finances.
Considering how important educational content has become in businesses, keep in mind that a lot of your consumers will appreciate getting financial advice or some financial education. To attract clients, especially younger ones, you can also offer alternative income sources, such as some kind of option for crypto or stock trading.
In Conclusion
The way consumers interact with banks has been transforming during the last couple of years. People now have completely different expectations and demands from banks, forcing the financial sector to evolve as well. And thanks to the pandemic, the digitalization of financial services has been accelerating, bringing about even more changes.
