Our relationship with banks has changed, and a great deal, in recent years. How many of you remember a trusted manager who attended upon you, for years, at the same office. People who, inevitably, were part of your life at many important times, from the opening of the first account to the mortgage or your children’s account. The bank was a trusted place where, whatever the problem, there was always someone willing to hear it, take the time to do so and, if possible, provide a solution. Gone is, too, the time when a customer could go to a branch feeling that they were entering a trusted place, that they were a vital part of it, and that they would be well cared for, even receiving occasional gifts.
All of this is long gone, and the current situation is that the customer, in a generic way, is highly unhappy with the banking system. This is not a one-time issue of a specific bank: the banking system has evolved a great deal in recent years and has not been able (or willing) to explain this change to the customer and make them part of it. Therefore, consumers, year after year, saw how companies changed shape, colours, and staff, without understanding what was going on or where it would take them.
New banks take up this unease and are born out of the perspective of returning to customers what they lost years ago: a trusted relationship with their bank.
- Digitalisation opens a new social interaction system
Our society is highly marked by social interaction, and the emergence of new technologies has revolutionised this idea and proven that another form of communication is possible, including in banks. A change in mentality that can have many readings but, if used correctly, its benefits can be multiple for both sides.
Talking about banking digitisation is talking about neobanking and, in terms of communication, they have a lot to say. They are the first banks that have changed the way of communicating with customers, moving to a fully digital interaction system, thus inviting traditional banks to join it. At first, it may seem that many customers, especially those not born in the digital age, will not join this change, however much they may gain, and that they will therefore maintain in-person and direct attention as the main way of contact. But to what extent can this be an advantage to them? We will now analyse what banking customers ask of their banks, and how all these claims can be dealt with by neobankers more efficiently and more quickly.
- Neobanks: a digital experience with human quality
The first thing the user seeks when accessing a bank is immediate attention. Nobody wants to lose the morning in infinite queues to end up being dismissed in minutes. Each problem requires an investment of time by both sides, and not offering as basic a principle as this to the user will cause their discontent. A neobank focusing on digitisation will keep this principle in all user interactions so that, in the event of any query, it has the tools to ask and get an answer. Automatic chats have enabled the experience to be improved on this aspect by providing information to the user from the keywords they type. Some even go further and offer in-person and human attention from these chats. Email and telephone care are the two other ways on which you must focus to achieve this milestone.
Another requirement is that understanding be rapid, and this is where machines still have room for improvement. For most clients, receiving human telephone care is more satisfactory than talking to a robot, because you can waste a lot of time without getting any specific answers. Although digital banks are working to improve this, personalised neobanks are the ones that will win this market.
In the same vein, service in branches also allows users to be certain that they will be able to clarify all doubts that arise. This is something that is not always satisfactorily resolved because, to achieve this, a time investment in the customer is needed, but not all entities are currently willing to offer it and, if they do, it is not always clear and transparent. In this regard, the bet of neobanks remains in-person and customised service, with particular emphasis on the second: being aware that each person has a need, a concern, and requires more or less time to acquire information. Respecting everyone’s tempo is a key value that differentiates a good experience from a bad one, both in the digital environment and in an in-person way.
Finally, the last factor a customer seeks in an office, and the most decisive, is trust: knowing that there is a person of trust, who will inform you properly and will take care of you from honesty and professionalism. This gives you the reassurance that you will always be well cared for. But what if all the workers in the branch, or even the bank, were like your favourite manager? What if they all worked for the needs of the client and informed them from honesty and professionalism? A personal allocation would no longer be necessary, because the trust would not be with one person alone, but with the whole bank. This is the real change in mentality of neobanks, generating such a personal experience that, regardless of the person who gives them service, the user will have the certainty that they will take the time to understand their situation and provide all the answers they need.
- Customer experience marks the future of the new banking
In a neobank, service time, customer allocation, sales pressure, or the number of customers are not the most important things. In a neobank, service is constant and permanent, from any channel or device. People take priority over products, their needs over those of the entity, and they work each day to evolve and improve this experience: bringing the banking world closer to the user and offering, for the first time, everything that they may require with a single click.
In short, a neobank is a return to the origins of banking and offering the customer a relationship of trust based on respect and mutual benefit. A relationship to which all technological advancements and the facilities that this may offer are added, and from which all in-person practices that make life more complicated rather than easier for the customer are deducted. Comfort with a single click. Welcome to the new era of banking.