The State of Open Banking As we enter the next decade, Open Banking will accelerate from the regulatory to the implementation stages in North America. Look no further than Europe for positive clues of the impact on consumer banking with now more than 63 million Open Banking users led by the UK, followed by Germany, […]
Exploring Open Banking Branch Experience Opportunities Read More »
The Cash in the USA conference, held on October 22nd in Nashville, explored cash’s current and future role in retail banking. The conference was well attended, and presenters reflected the diversity of the industry sectors that manage cash within the banking industry. SLD shared insights on how cash and its management are no longer a
Future Of Cash in Retail Banking: Notes From Cash in USA Conference October 2024 Read More »
At the 2024 Networld Media Group Banking Customer Experience Summit in Charlotte, experts gathered to discuss how AI, sustainability, and evolving consumer behaviors are reshaping the customer journey across industries. From retail banking to tech-driven customer experiences, the summit highlighted the importance of aligning business strategies with customer needs in today’s digital age. Sustainability and
Elevating The Banking Customer Experience: Notes from the 2024 ICX/BCX Summit Read More »
Shikatani Lacroix Design (SLD) was invited to speak at the ebankIT Summit in Portugal on the future of seamless advice and its impact on customer loyalty in the banking sector. The presentation was based on a consumer study with a detailed comparison of the banking industry in North America and the EU/UK. It revealed nuanced
The Future of Seamless Banking and Financial Advice: EU/UK vs. North America Read More »
The financial industry is transforming rapidly. From multi-channel approaches to omnichannel experiences and the rise of AI-driven seamless banking, institutions are embracing changes at various stages. This transformation is being accelerated by Europe’s enthusiastic embrace of open banking, which will shortly be followed by open finance. Together, they offer customers greater control over their financial
Unlocking a World of Seamless Banking: Empower Customers at Every Step Read More »
How To Overcome Customer Attrition? From NPS scores to customer account depth and new customer acquisition, financial institutions track a plethora of metrics to gauge the health of their business. But what if these metrics are lagging predictors of future success, and financial institutions need to focus on what is truly important? As seen on
How to Reduce Customer Attrition in Banking: Insights and Strategies Read More »
Most financial institutions continue to prioritize digital transformation and digital technology, leveraging their online and mobile platforms to reduce customer attrition caused by branch relocation and closure. As a result of this shift, many banks and credit unions have shifted from traditional banking to digital-first institutions. This change increases online and mobile customer usage and
Why Bank Branches Are The Solution for Successful Digital Transformation in Banking Read More »
The globe is being disrupted due to the rapid transmission of the COVID-19 pandemic. In response, retailers and financial institutions have initiated social distancing strategies to minimize the spread of the virus. These initiatives include marking safe distances within waiting queues, limiting the number of customers in the store, adding plexiglass screens to separate staff
Strategies for Retail Banks Amidst COVID-19 Read More »
Seamlessness is now an expectation in our service-oriented society. Customers have little patience for services that are inconvenient, frustrating, and inefficient. We don’t want to wait in line, have to repeat ourselves, or deal with mistakes. Many major companies are selling services instead of physical products and are differentiating themselves based on customer experience. Brands
Service Design and the Banking Experience Read More »
In this digital era, it’s no longer a surprise to see “Welcome back,” followed by your name on the home screen of an app or website. The consumer is increasingly conditioned by e-commerce giants, such as Amazon, to expect a certain degree of personalization. In the words of Dave Carnegie, “a person’s name is, to that
Personalization Strategies for Banks Read More »
For our physical health, we have doctors and personal trainers. For mental health, therapists can help. But do you have someone to assist you with your financial well-being? As digital capabilities continue to improve, the need for convenience has largely been met. But what about financial advice? Most institutions offer solid transactional services, but providing
How To Improve Your Bank Customers Financial Health Read More »
In our recent white paper, How Banks Can Leverage a Walletless World, we discussed how new entrants in the financial industry, including start-ups and tech giants, are threatening banks by offering services in areas in which clients are being underserved. In this blog, we will discuss how banks can go beyond a simple brainstorming session and
Alternative Ideation Methods for Banks Read More »
As 2018 comes to a close, it is time to look ahead to what will influence the banking industry in 2019 and your goals for the new year. Do you have a plan for key strategic initiatives that you want to accomplish? Major trends of digital transformation and customer centricity will continue to be relevant,
The Three Biggest Opportunities for Banks in 2019 Read More »
Banks have been slow to adopt what is often referred to as content marketing, or content strategy – but now that the return on investment is becoming clear, it’s important for financial institutions to catch up. What exactly IS content strategy, and why do banks need to make this investment? Content strategy is the planning,
Why a Content Strategy for Banks is Important Read More »
In today’s highly competitive and quickly-changing banking industry, the pressure is on for banks to prove their relevancy to their customers and outperform their competition. Banks today understand the critical need to connect with customers emotionally and to develop services to fulfill their unmet needs. And yet, innovation can be a difficult process to nurture
How Financial Institutions Can Drive Innovative Culture Read More »
With so much access to information these days, decisions can be hard. We are all generally more informed, but there are also more options to consider, opinions to hear, and claims to be validated. Simplification can help address this issue, and many industries have leveraged it in their branding and business strategies in order to
How to Simplify the Banking Experience for Customers Read More »
When we meet someone new, their appearance, voice, and behavior quickly form our first impressions. As we interact more with that person, their traits and flaws become clearer. So, if your bank was a person, who would it be? This anthropomorphic question can help clarify your brand identity. It can also help your customers relate
Defining Your Bank’s Personality with the Big Five Read More »
The Financial Brand Forum is one of the most attended banking conferences in North America. It is a leading event globally, as it focuses on current and future trends in banking. This year’s conference, held in May, was attended by more than 2,000 banking professionals, in addition to more than 50 keynote speakers covering all
Digital Transformation Checklist for Banks Read More »
Seniors are about to take over the world. Between 2025 and 2050, the number of seniors on the planet will double, and for the first time in history, there will be more people over 65 than children under age 5. How this massive demographic change will impact us is not entirely clear, but industries need
What Retirees Need from their Banks Read More »
There is a growing trend for banks to partner with millennial-friendly retailers in the hopes of driving traffic and relevancy for their branches. From credit unions to large banks, such as Capital One’s foray into cafe experiences that rival some of the best coffee chains, the allure of finding a complimentary partner to drive branch
No, Your Bank Doesn’t Need a Coffee Shop Read More »
