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May 21, 2019

4 Things Community Banks are Lacking in Today's Tech World

Mobile Banking | Security | Online Banking | BankCMS | Core Banking

Technology continues to progress faster than in past years. Today it only takes computers 12 to 18 months to double their capabilities. With this fast pace of technological developments, each succeeding generation is becoming more and more tech savvy. In fact, many banks are preparing now to provide the digital accommodations Gen Zers seek.

Today's banking customers want their banks to advance with the technology they love. They want technology that makes it quick and easy for them to access their money when they want it. And, meeting consumer demand for the latest technology extends far beyond "big" banks to smaller community banks. That's why it's important to get your community bank on board to meet your customers' needs or risk getting left behind. To advance with the rising generation, it's important to understand which aspects your community bank may be lacking in. Things that could be holding you back from competing in today's tech-savvy world. Here are four key aspects you need to consider.


1. A Banking CRM System

Data is continually becoming the most important aspect of any and all businesses. With it, businesses have been able to make better decisions that have resulted in greater growth and profitability. The key however is having a tool that helps you gather and interpret that data. And one of the most common tools used by these businesses is a CRM system.

For a bank, having a customer relationship management (CRM) system is essential in today’s tech world. It's important to know what's driving your customers to make certain decisions so that you don’t get left behind. Your bank should be focused on gathering and interpreting data so that you can find ways to better improve your services. Doing so will keep your current and future customers’ happier than ever. Luckily, a bank CRM helps you do exactly that.

With an updated CRM, you’ll be able to process and organize data that’ll help you better understand the following: who your customers really are, what their buying journey is like, and if your current marketing strategy is effective or not. Knowing all this will allow you to tailor your efforts to match your customers’ needs more perfectly so that you can provide them with the best service and experience possible.


2. Mobile Banking App

Banking customers want to quickly access their money with an easy-to-use interface at any given moment. However, small banks often lack the technology that offers such features. If your community bank doesn't provide the features your customers need to achieve this, then you may be setting them up to look elsewhere. However, a mobile banking app helps banking customers get the quick and easy access they seek. For instance, today's banks are offering as many as 15 advanced features that extend beyond performing transfers or accessing account balances. These features entice customers to stay with them, things such as live chat support via instant messaging or advising services. By offering these key features, you can ensure your customers will be more satisfied with your products and services.


3. Bank CMS Tool

Every business needs to have a marketing plan, including community banks. But without the tools to update your marketing website, you miss the opportunities of providing customers with relevant information at the right time. However, you can enhance your marketing with the help of a powerful website content management system (CMS) that's tailored for banks. With a BankCMS tool, it’s simple to create content, preview before publishing, add multiple users, and update your marketing website with any features it needs to better support your customers. You can also use BankCMS to create high-quality landing pages that support responsive design so you can ensure your banking customers can seamlessly access your marketing content from multiple devices.


4. Enhanced Security

Today's consumers are ever-concerned about privacy and security. So it's important to ensure that your consumers understand how their information is protected. With a CMS tool, your website is hosted on a top-level security infrastructure that’ll protect all your clients' information. You can also provide enhanced security features to your customers by quickly communicating important information in the case of any emergency or update. Being transparent and continually updating your customers is the key to building stronger relationships and a deeper foundation of trust.


Final Thoughts

With the advancement of technology, the banking customer continues to get more tech-savvy, which results in a higher demand for features and services that meet their technical needs. So it's critical for community banks to take the steps necessary to improve their offerings with advanced technology. But in doing so, you first need to have a deeper understanding of what your organization really needs. Hopefully, by reading this article, you now know what your bank needs. With this knowledge, it’s time to make plans to enhance your technological offers to improve your banking customers’ experience.

To learn how FPS GOLD can help you in this effort, contact us by giving us a call or filling out our form. You can access the form by clicking here.

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