Skip to main content
SBS Logo

Customer experience in banking

As the financial services industry and customer expectations change, banks need to adapt to survive. Find out why customer experience is key, and what banks can do to improve.

Download PDF

We believe that full digital customer experience is key for banks, as trust is a strong differentiator in an industry going through perpetual disruption. Engagement is key as clients expect fast decisions within an end-to-end, humanized digital experience.

Inspired by a relentless wave of highly personalized, innovative products and services – from Netflix to neobanks – customers around the world are more digitally savvy and empowered than ever before. It’s not just that they expect seamless and slick customer experience. They demand it.

The banking sector is as implicated in this shift in customer behavior as any other, and financial players of all shapes and sizes are scrambling to ensure they’re able to offer the very best in class to their customers. However, according to a study conducted by Forrester Consulting on behalf of Sopra Steria in July 2021, just 14% of the 900 decision makers surveyed said that their bank’s technology infrastructure and applications can deliver great and differentiating customer experience (CX).

Clearly, if these banks are going to prosper in the coming years, they need to make some drastic changes in order to better meet the needs of their customers.