Digitization is a means of fostering innovation across different products, services, and business sectors. We have now come to realize that personalizing experiences for customers in terms of services are a must-have for banks and financial institutions. Going digital is the most suitable and invaluable facilitator when it comes to enhancing customers’ experiences. With internet and smart phones in the hands of billions of people across the globe, mobile banking, social banking and e-commerce is very quickly becoming our everyday reality.
The Advent of Digital Banking
When was the last time you visited your bank? Banking is no more limited to heading out and visiting the bank personally for various purposes such as withdrawing or depositing money, collecting account statements, to stop a payment, etc. Today, you could do all these and much more using the digital banking services offered by the banks. So, paying a visit to your nearest bank branch to merely check your account balance is now a matter of past.
Digital technology enables banks and financial institutions to customize their services and products as per individual preferences. With the convenience of online and mobile banking, customers can now make payments online, transfer money online, monitor account balance, check transaction history and do lot more. In essence, customers are more often than not going digital for all of their banking needs.
Features of Digital Banking
- Easily Open Savings Account Online
- Access Account History
- Transfer Funds Between Accounts
- Get Electronic Statements
- Automatic Bill Payments
- Get Secure Message Alerts
- Set up Future-Dated Transfers
Online banking
Digital Banking allows you to securely bank anytime, anywhere – as long as you have Internet access on your device. Using your computer or smartphone to check your balance, transfer money online or make payments on the go can make your life much easier. Besides, paying your bills online helps you maintain your billing records easily at one place. You can also set standing instructions for auto-payments using your debit or credit card. Most of the banks today offer services like internet banking, mobile banking, and mobile banking applications to enable customers initiate transactions from anywhere, anytime.
In the banking and finance sector, access to online and mobile banking tops the list of customer demands. It is therefore more important for banks to start investing in technology to make sure the online experience that they provide to their customers is at par with the personalized service delivered at the branch.
Since the demand for online banking keeps on increasing day by day, more and more customers rely on their smartphones for managing their finances. Today, banks and other financial service companies do everything to ensure that customer experience is as seamless as possible.
To conclude, improving customer experience through Digital Banking enables banks to improve their online presence and stay on edge in this highly competitive market. By providing a virtually flawless experience to its customers, banking institutions can ensure that the customer experience is as seamless as possible. In fact, most of the Indian Banks are already doing so. Kotak Bank is one such private bank that has evolved its services offered to its customer by adopting digital banking early. To know more about the services offered, click here
Author Bio:
Rachita Kotian is an independent blogger and writing has been her passion for a long time. A literature major, she loves exploring the world of health, lifestyle, travel and finance. When she’s not writing, she’s most likely listening to music, cooking, surfing the web, or catching up on the latest flick.
