Building a Better Bank
In 2021, you’d think that just about everything has been digitized at this point, right? Wrong. In the world of banking, there are still local banks, credit unions, and other financial institutions that have been slow to hop on the digital bandwagon. NCR is here to help not just them, but their customers as well by providing all the technology necessary to make banking, digital payment, and other transactions possible on mobile, online, or anywhere you want. But that’s not all. As with everything from ecommerce to marketing, banking is about to get more personalized thanks to data and automation. On this episode of Up Next in Commerce, Doug Brown, the President of NCR Digital Banking, explains it all and paints a picture of what banking will look like for the average consumer as well as businesses big and small. He also talks about how solutions can and should be implemented regardless of the business you’re in and who you should be asking to get a handle on what consumers actually need. And he dives into where and how crypto will evolve next. Enjoy this episode. Main Takeaways:Big or Small, Tech for All: Regardless of the size of a bank or financial institution, there is now technological capability to make them all function in the same way in the eyes of the customer. Every transaction can and should be available digitally, and the proliferation of tech like the cloud and edge computing has made that possible. This, by extension, allows for more flexibility and choice for people and businesses to choose the banks and financial institutions that work best for them.Make It Quick, Keep It Personal: Today, consumers want two things: simplicity and personalization. They want to transact, move money, or make payments in a matter of seconds or minutes, not days or weeks. And they also want to know that when they are loyal to one bank or service, that they will be rewarded with unique, personalized deals. Those are the expectations that banks — and all consumer-facing businesses — are currently facing.Not Even Close: Whether you run a bank or a retail store or an ecommerce shop, one of the biggest mistakes you can make is assuming you know what a customer wants or trying to bring in solutions based on nothing but trends and what’s flashy or new. More often than not, what you think is an issue is miles off from what the consumer is actually challenged with, and if you just ask them or test out a few things, you’d be able to find that out.For an in-depth look at this episode, check out the full transcript below. Quotes have been edited for clarity and length.---Up Next in Commerce is brought to you by Salesforce Commerce Cloud. Respond quickly to changing customer needs with flexible Ecommerce connected to marketing, sales, and service. Deliver intelligent commerce experiences your customers can trust, across every channel. Together, we’re ready for what’s next in commerce. Learn more at salesforce.com/commerce---For a full transcript of the interview, click here.