The Many Facets of Personalized Digital Banking - Leveraging a Post-Lockdown World

Posted on

August 24, 2021


Angela Applebee

A crisis always requires innovation. But the solutions created to respond to a crisis often stick long beyond the disaster itself. Just look at the Great Depression and how it changed the world's financial system. In the same way, many financial institutions stepped up during the COVID-19 crisis and offered new and better digital services to their account holders. Now, as the pandemic wanes but digital preferences persist, it may be time for those same financial institutions to consider more personalized digital banking services for their account holders.

Improvements to digital documentation

Your account holders, who are settling into a more permanent remote environment, are likely interested in your various digital document offerings. Consider providing a service to run and distribute your clients' financial statements and documents that they have been digitizing and re-distributing on their own.

Likewise, work with them to bring efficient bill-pay into your offerings. Add software that turns a digital file into paper or digital checks to be sent to their payees. Some services even offer your account holders the option to add their own data to their files with your institution - helping you to further personalize services in response.

Other ways to customize your services

By continuing to offer increasingly personalized digital banking services, you can reach your account holders where they are. With more customized and relevant solutions, you can then add new levels of account holder loyalty and retention. To begin, here are a few ideas:

  • Anticipate and offer services based on account holder use patterns. In other words, use AI to predict what they will want before they know they want it.
  • Personalize the emails, messages and videos you send your clients based on what you know about them.
  • Segment your account holders so that similar offers go to like users.
  • Use new bots that permit financial transactions without a separate app.
  • Invest in real-time personalization technology. The Larky Nudge® platform promotes engagement and value through one-on-one communication and real-time and real-place notifications.
  • Use machine learning to get to know your account holders and give them more of what they already enjoy.

Larky can help build your personalized digital banking service

You need to continue to go beyond the simple efficiency of digital banking. Offer your account holders a personalized digital banking system that connects them in a human way.

The Larky Nudge® platform can help you direct account holders to specific products and services that fit their unique personal situations at the exact right moment. Customized lock-screen notifications can help your financial institution create deeper relationships with account holders by offering them what they need at the right time and in the right place. Thus, your clients receive valuable offerings and you get to expand your range of services.

Find out what Larky can do for your financial institution by requesting a free no-obligation demo.

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