Frost’s Post

What are the advantages of Pay by Bank for your customers? 🤗 Simplicity - Remove the friction that SCA creates for your customers during the checkout process by leveraging the simpler authentication methods that Pay by Bank utilises. 💨 Efficiency - Eliminate the need for your customers to have to manually enter their card details or bank account information, creating a faster and more streamlined customer experience. 🤞Trust - Allow your customers to authenticate and approve your payments from within their banking apps, helping them feel more secure when making a payment. 🧠 Experience - With Pay by Bank sending refunds to customers couldn’t be easier, our solution uses real-time refunds which deliver an improved customer experience. Find out more about our proprietary Open Banking solution here: https://lnkd.in/eJY6i8bH #OpenBanking #PaybyBank #AccounttoAccount

To my community banking friends…here’s a timely article about bringing hospitality back to the business. One interesting point: People like to experience a community feel with their bank—even Gen Z. But, of course, they also expect high-tech experiences. And not just like the ones they get from big banks, but like the ones they get from Uber. See the article for more insights. #communitybanking

Day 7 of Our 31-Day Decision-Making Adventure! Today, we're unwrapping the secrets of the Flywheel Model, a magical tool for creating momentum in business decisions. Let's apply the Flywheel Model to a banking example: Imagine a Big Spinning Wheel : Think of your bank like a giant ferris wheel. When it starts spinning, it builds momentum in customer acquisition and retention. The Power of Happy Customers : Imagine your bank has friendly tellers and offers great service. Happy customers tell their friends about the bank, and they become new customers. These happy customers keep the wheel turning. Easy-Peasy Banking : If your bank has user-friendly mobile apps and convenient ATMs, it's like giving the ferris wheel a smooth spin. Easy banking makes customers happy and attracts more people. Keeping the Fun Going : Your bank hosts financial literacy workshops and special events for account holders. These events keep customers engaged and loyal, like a gentle nudge on the ferris wheel. Word-of-Mouth Magic : When satisfied customers talk about your bank's great service and benefits, it's like a gust of wind pushing the ferris wheel faster. Word-of-mouth recommendations bring in more customers. Happy Staff, Happy Customers : Friendly and well-trained bank employees are like booster rockets on the ferris wheel. Happy employees create a positive atmosphere that customers love. In the banking world, the Flywheel Model is all about creating a continuous cycle of happy customers, referrals, and exceptional service. It's like spinning the wheel of success! #FlywheelModelInBanking #BankingMomentum #CustomerSatisfaction #31DayChallenge Stay tuned for more exciting decision-making adventures!

50% of consumers would consider switching banks if they’re not getting the services they expect. This is all against the backdrop of consumers’ preference for everything digital, as shown by ecommerce’s explosion in recent years. For an issuer to stay competitive, it has to offer the best digital banking experience, whether that’s making card replacement easy or providing great offers within its banking app. This all contributes to customers’ satisfaction and their lifetime value. Read more: https://bit.ly/3HJ6YEW  #DigitalBanking #CustomerSatisfaction #SwitchToTheBest #FutureOfBanking

The rankings for the US Banking Apps' Engaged Customer Score for August have been announced. US Bank and Citibank are the market leaders with consistent strong performance, while Truist is gaining ground and ranked third. Next week, the August Banking App Insights Sessions will provide an extensive exploration of the US banking market. Stay tuned for more updates and in-depth analysis. #BankingAppUpdates #JulyRankings #InDepthAnalysis

Douglas Brown from NCR Voyix talks with PYMNTS’ Karen Webster about why Q1 was a “tale of two consumers” and how banks and credit unions are embracing #data to deliver more personalized financial wellness solutions and digitally enabled experiences. Listen 👉 https://bit.ly/44mGTWC #DigitalFirst #DigitalBanking #FinancialWellness

The rankings for the US Banking Apps' Engaged Customer Score for August have been announced. US Bank and Citibank are the market leaders with consistent strong performance, while Truist is gaining ground and ranked third. Next week, the August Banking App Insights Sessions will provide an extensive exploration of the US banking market. Stay tuned for more updates and in-depth analysis. #BankingAppUpdates #JulyRankings #InDepthAnalysis

How do you choose a bank? Based on what I see on LinkedIn, I would think that customer experience matters. But based on the ads I receive, it’s all about rates and teaser offers. I’m ready to fire my bank for lousy digital banking services that have been bugging me since COVID-19. Low deposit limits, insufficient Zelle history and more. I’ve started shopping for a new bank and find it’s really hard to get info about the features that matter to me. So I’ve started to conduct an informal benchmark and I will share the results here very soon. First findings: it’s hard to get to a human and most don’t ask if I’m a customer so I get stuck in the IVR. The humans don’t have most of the answers to my questions so the calls can take 30 min while they look things up like mobile deposit and Zelle limits. And the features vary widely, which means there is meaningful differentiation among personal checking products. And yet, none of the info I am asking for is being promoted or even shared on any of the bank websites. What matters most when you choose a checking account? #digitalbanking #customerexperience #whysohard??