anking is pretty much the same all over, at its core. Banks and credit unions operate in a highly commoditized industry that leaves little room to compete on price, so creating a positive customer experience is especially critical.
Customer experience encompasses every interaction an individual has with a company and its brand: in-branch contact, email, call center, online banking system, online advertising, digital apps, and even social media. And it involves the customer’s senses, emotions, feelings, perceptions, evaluations, engagement, and even memories. A pleasant experience—one that is helpful, convenient, fast, and friendly—can make people feel seen, heard, and appreciated. Ultimately, favorable customer experiences help companies differentiate themselves and increase their competitive advantage, brand loyalty, customer retention, and revenue.
“We continually enhance our services and processes to meet our customers’ ever-changing personal and financial needs,” she adds. “A century of experience has given us a solid foundation to adapt and innovate to provide the high-quality service our customers want and expect—regardless of the delivery channel they choose to manage their finances.”
First National Bank Alaska
Integrating customer experience with employee feedback is another essential driver. “We’re fortunate to have a local team of more than 600 employees who contribute their ideas to improve our processes, workflows, and customer outcomes,” Brown Robinson says. “If something can be done faster, simpler, and better—without losing integrity—we will make the change to ensure customer satisfaction.”
Customer satisfaction begins with well-trained employees and the resources and expertise to meet customers wherever they are—in person, via chat or email, or on the phone, according to Elaine Kroll, senior vice president of treasury management and Anchorage branch administration director. The bank recently transitioned its branch team to a “universal” employee model, which means most branch employees can now perform multiple job functions.
Over the past year, FNBA implemented a Mortgage Loan Servicing Center for the online management of mortgages. The bank also simplified mobile check deposits and increased mobile check deposit limits, redesigned business and personal banking mobile apps, and significantly invested in infrastructure to support a faster user experience and increase uptime. Recently, FNBA improved the debit card management features in its mobile app and revised some of its online banking agreements to provide a more streamlined approach.
First National Bank Alaska
Northrim guarantees that customers receive a warm, welcoming greeting; prompt service (never longer than five minutes); timely and error-free statements; and always a sincere thank-you. “Northrim was founded back in 1990 on providing a different kind of experience to our customers and employees,” Jennings says, “and we remain dedicated to that thirty-plus years later. Our ability to be able to maintain that in such a changing environment is proof of that commitment.”
Having competitive products and services is important, but not nearly as important as having dedicated employees who are respected and empowered to find solutions for customers. “Our vision is to be Alaska’s premier bank and employer of choice,” Jennings says. “You cannot do that if you are not able to focus on your employees, which, in turn, helps us provide the kind of services that we provide.”
Northrim Bank
Many Denali State Bank customers prefer to do business in person, Lundgren says. While some financial institutions have closed branches in the area, Denali opted not to—although some of its offices are small. “We’ve decided to leave them open, even though it creates some additional costs,” Lundgren says. “But that really fits our high-touch customer service business.”
Nuvision Credit Union
Nuvision Credit Union
Customer engagement extends beyond branches, too. If someone needs follow up work, bank staff are likely to make a house call. “We intentionally recognize opportunities to go out and meet at the customer’s business,” Lundgren says. “That’s another way we try to differentiate ourselves.”
For people who prefer remote banking, Denali offers online and mobile options. Customers can use its mobile app to complete all types of transactions, including applying for an auto loan. They can upload loan documents, submit an electronic signature, and complete the entire process via the app. “You can do everything on your phone, if that’s what you want to do,” Lundgren says.
The bank’s centralized call center is strategically designed to improve customer experience for individuals who favor banking by telephone. In addition, Denali upgraded its automatic teller machines a few years ago with touchscreens that make them more functional. The bank adopted a similar approach with its website; it added landing pages that allow visitors to quickly identify what they need and access it on the site with fewer touches. And Denali State Bank is capitalizing on social media to bolster customer experience, using Facebook and Instagram to make it easier for customers and the general public to stay informed about its products and services.
As a “relationship” bank, KeyBank places clients at the center of all its efforts, McCaffrey says. These efforts include its financial wellness review, Small Business Check-in tool, Key@Work programs, and steps to create a greater onboarding experience. Within all of these efforts, KeyBank’s staff are the center point of the customer experience. “Their knowledge and expertise are critical to building relationships and providing sound financial solutions,” McCaffrey says.
KeyBank
President & CEO
Denali State Bank
The interactive Small Business Check-in tool, for example, allows business owners to engage in preliminary conversations to quickly identify their priorities, which results in more meaningful interactions. And KeyBank’s partnership with Blend provides a streamlined digital process in mortgage loan approval.
In addition, KeyBank recently announced enhancements to its overdraft policy. These modifications will make it easier for clients to access and manage their money and avoid fees. “Our clients today have expectations and want to be empowered by their banking,” McCaffrey says. “These steps with our overdraft terms truly help clients on their financial journeys.”
Nuvision also offers mobile banking and an automated telephone response system—ABIL (Avoid Being in Line)—to provide account updates 24 hours a day. Since 2012, the credit union has used a one-time passcode tool to assist members who utilize its contact center. The authentication tool reduces the time it takes to identify callers and adds security to thwart impersonators.
“Our employees live in the communities we serve, and they share many of the same needs and goals as our members,” says Ballard, who has homes in Eagle River and Orange County, California. “Our employees benefit from the same products our members do, and because of that, they can speak knowledgeably and provide guidance to the best products. It’s about supporting our neighbors for the life they build.”
Nuvision Credit Union
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