Banks are using the Internet to come up with new ways to get closer to customers and offer tailor-made services that help them manage their finances quickly and easily anytime, anywhere and boost their financial health.
The digital era has reshaped the way we interact with each other. We can talk to our friends, relatives and even our bank through a computer or mobile phone. Though young people are the trailblazers of online banking, in recent years customers of all ages have started to see it as a comfortable, simple, safe and fast way to manage their finances.
Take 70-year-old Manuel, who has enjoyed spending more time with his grandchildren since retiring. On his last birthday, they gave him a smartphone and taught him about “chatting”, “downloading apps” and “sending emails”. Since then, he’s discovered endless ways to keep in touch with his loved ones, find information and even communicate with his bank on its website and app.
Though each country and bank can have different digital customer service channels, the most popular ones Manuel could come across are:
Like Manuel, more customers are turning to new, online digital channels to manage their finances and get answers to their questions. The major benefits of digital transformation include speed, as customers don’t need to visit a branch; simplicity, making online banking intuitive and accessible to vulnerable groups as part of financial inclusion initiatives; and security, due to stringent customer identification mechanisms like fingerprint mobile log-in.
Security is an online banking priority. With cybercrime on the rise, banks are advising customers that they will never contact them to ask for personal information. Users can follow simple tips to strengthen their passwords like using combinations of numbers, letters and symbols, as well as reporting suspicious-looking emails as spam.
To learn more about banks’ cyber security, including how to avoid phishing — where hackers attempt to steal your passwords and personal data —, check out this Sano de Lucas article (in Spanish).