In the backdrop of overwhelming adoption of digital-led initiatives by both – financial service providers and customers, the need to understand how best to meet customers halfway emerged as one of the fundamental requirements of the banking landscape.
Historically, while the focus has been product and service differentiation among most financial service institutions, we at the Digital Banker believe that another much more important aspect – digital customer experience (DCX), has gained significant traction. We also believe this is key to building customer loyalty via implementation of cutting edge technology and digitalisation of channels and interactions.
The Digital CX Awards 2021 witnessed massive growth in the form of 385+ submissions from incumbent banks, digital banks, insurers and several new-age institutions. The goal was to identify and benchmark financial institutions that are innovating experiences, implementing technological advancements and finding new ways to engage with their customers, all with digital CX
at the core of its strategy. The submissions revealed that in a short span of time, the mandate for financial institutions witnessed a rapid shift where it became imperative to understand, acknowledge and deliver exceptional digital experiences through innovative business models.