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Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

DIGITAL BANKING Tips - Tip 17: Web Site Management for Bankers

01 June 2015  |  5245 views  |  1

One of the most important digital assets a bank can have is the Web Site, may be the most important of all. It is the bank's digital main gate from where our customers come to know about bank’s products and services, perform transactions via online banking or buy some financial products. The difference between a good web site and a bad one could have a huge impact on the bank's online business. If the management of bank web site is not done properly, then there will be a damaging gap between the customer expectations and what bank's digital deliverables.

For the purpose of conveying the right messages, I would like to differentiate Bank’s Web Site (everyone visits) from Bank’s Online Banking Service and underline the fact that the focus of this post is Web Site.  In my opinion significant number of bank web sites performing much below their potential and not managed well by the non-digital mind-set.  This may result in some challenges like low conversion rates, narrow sales funnels and worst of all "not knowing what is going on web". Actually it is not a hard task, just requiring some planning and well execution.

This is the short version of the post. 

Starting from Tip 2 to Tip 30 only short versions of my posts are available at Finextra. From Tip 31, full (long) versions of my posts can be read here.

 

 

TagsMobile & onlineRetail banking

Comments: (1)

Karim Maalouf
Karim Maalouf - Path Solutions - Beirut | 02 June, 2015, 07:51

Thank you Tolda for this article

I believe for the last question related to selling our products, CRM can be very efficient in this area, as it provides the interaction with our customers speically when it is integrated with online social media.

Also the campaigns  would provide us opportunity management, and increase our cusotmer loyalty, secure future revenues and decrease the likelihood of customer defection.

Banks are more and more investing in this corner as part of digital banking.

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