Customer experience innovations in the finance industry

Published on 27 August 2014 by in Latest News

Banking is one of the few services that the public expect to be working faultlessly 24/7. Banks are responsible for the personal wealth of millions of customers, so consumers naturally have high expectations and ensuring every customer is satisfied requires first class service.

numero has put together a list of 5 innovations that have transformed the customer experience within banking in recent years and reassured customers that their money is in safe hands.

Cash point locator apps

iStock 000012079349 Small 300x199 Customer experience innovations in the finance industry

Although many shops and services accept card payments, many customers demand access to their money whenever or wherever they may need it. One of the newer features being added to mobile banking apps fulfils this demand by using GPRS to locate nearby cashpoints and branches. Customers need never be too far away from their money, creating a smoother customer experience.


Social Media Customer Service

Banks such as NatWest, Barclays and HSBC all have dedicated customer service Twitter accounts. This provides a quick, free and public platform for customers to raise their queries or voice their complaints. It also supplies information and updates that may affect customers, ensuring they are kept in the loop and are made aware of changes that concern them.

Live Chat online

Live chat allows customer browsing banking websites to receive personal, private and secure one-on-one support from a professional. This creates a better customer experience whereby the consumer comes first and help is always instantly available if they need it.

Contactless Payment

Contactless payments are increasingly being adopted by the major banking companies and by retailers. This technology allows customers to quickly swipe their cards over in-store readers to pay for their goods. This is another example of how banks are working hard to streamline the payment experience, making it quicker, easier and more convenient to make purchases.

iStock 000020068511 Small 300x199 Customer experience innovations in the finance industryText Alerts

A number of the major banking companies provide text alerts on account balances making sure customers are kept up-to-date on how much money they currently hold. Alerts can be set up to notify you once a week or can also be set up to contact the customer if their account falls below a pre-set balance. These useful services keep the customer up-to-date and ensure they won’t be hit with unexpected overdraft charges.


Banking companies are leveraging new technology to improve the way customers interact with their business and offer greater service convenience.  numero believes innovations like those listed can help firms within the sector improve their customer experience to achieve a significant competitive advantage over competitors.

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