On Feb. 20, 2020, we live-streamed an insightful webinar that walked through the pros, cons, and the considerations and potential hurdles of chat commerce in banking.

Missed it? No problem. You can listen to the recording here.

Find out all about this new chat revolution creating better customer experiences and revenue growth through innovation and engagement. See what your bank needs to know to start benefitting from the ground-up—and how to set your bank up for success over the long term.

Here are just a few of the highlights:

The opportunity chat brings to your bank

This rapidly emerging world of chat commerce and chat in banking (chat banking) gives your customers what they want - 24/7 instant access to information and products - in the way they desire. It’s a huge draw for today’s firmly digital-first banking customers. But here’s the really exciting part: chat apps enable your bank to deliver a wide range of digital banking services in chat - while delivering significant cost savings to your bank’s bottom line at the same time. Interesting? We sure think so.

A broad number of factors are driving the chat revolution. Ultimately, it comes down to saving time and offering the convenience customers have come to expect from the brands they favor. Nothing is more convenient than the mobile phone that is in your customers’ hands - and goes everywhere with them, every day.

Chat commerce in banking is here—and gaining ground quickly

Here are just a few of the ways banking customers are changing and becoming digital-first:

  • 40% have already used chat messaging to obtain account information
  • Nearly 50% haven’t entered a branch at all in the past year
  • Only 3% of customers enjoy using an IVR
  • 57% of business agree that chat can deliver large ROI with minimal effort

Today, chat banking is being used to simplify and extend customer support, account management, payment services, and the purchase of digital goods. Emerging use cases suggest that chat will soon enable consumer services in areas across the banking enterprise.

The big benefits of being in your customer’s address book

Chat banking makes banking as convenient as chatting with a friend. When chat is one of your bank’s channels, you are always in your customers' presence, in their purse, car, pocket or hands. You are where their attention is in chat—and you stay with them through the day. And, it’s not just younger customers. Eighty percent of adults use messaging and anticipate increasing their usage of them in the future. What’s more, research shows that one of the major reasons customers have left a financial recently institution is a poor online or mobile experience.

Customers are adopting chat readily—and quickly

One of our customers is getting month-over-month customer adoption of chat banking rates of over 25%. This isn’t surprising to us, but it’s delightful for our customer—and is having a big impact on both customer satisfaction and the bottom line of the bank.

Eighty percent of banking interactions can be resolved by automation and engagement over chat, and customers are increasingly preferring chat as their channel of choice. Offering chat banking to your customers is a win-win all around.

Sound intriguing? It is. Let us tell you more. Listen to the full 1-hour webinar here.

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