Practical solutions for today’s banking challenges.

Thriving in banking requires tackling evolving technology and shifting customer expectations. While challenges can be daunting, the right strategies turn them into opportunities for growth. This article offers practical solutions for banks focused on modernizing legacy systems, meeting customer expectations and optimizing brand and marketing efforts.

The banking sector stands at a crossroads where evolving digital strategies and continuous innovation have become crucial for survival. In today's rapidly advancing digital era, staying current is not just advantageous — it’s a necessity. To thrive, banks must adopt forward-thinking strategies and modern technologies that will help streamline operations and future-proof their infrastructure. How?

Start your digital transformation today. Digital transformation requires strategic planning, smart integrations and an understanding of evolving customer behaviors. While an experienced agency can guide bank teams with audits and phased improvements, there is important work your team can take on, to get started —

• Have your in-house technology team assess the current state. Start with an audit. Identify existing digital capabilities, inventory all systems in use and document any obvious gaps and pain points in both customer experience and operational processes today.
• Engage a diverse team to define goals. Staff across leadership, IT, operations and customer service can all offer valuable insights. Gather feedback to set measurable objectives and if alignment issues arise, consider a consultant at this stage, to guide the process.
• Prioritize quick wins. From there, you can identify low-hanging fruit for immediate impact while simultaneously beginning to plan for longer-term changes.
• Outline a plan. Draft a phased approach with timelines, responsible resources and key performance indicators (KPIs) to measure progress.

Create a data plan. Banks collect vast data but often struggle to use it strategically. Effective insights boost revenue, manage risk and enhance customer experience, but outdated technology and expertise can hinder progress. To get started on an improved data strategy, your team can take these steps —

• Document current data assets. Include an inventory of all available data sources, including customer transactions, digital interactions and operational metrics. Understand where data is stored, how it’s accessed and its current usability.
• Identify data gaps. Determine missing or incomplete data that could enhance decision-making. Consider areas like customer behavior insights, real-time analytics and cross-channel interactions that may not be fully captured.
• Agree on key metrics. Define the most important metrics for business growth, risk management and customer experience. Align internal stakeholders on measurable outcomes such as customer lifetime value, churn rate or fraud detection.
• Create an ideal dashboard. Design a centralized, real-time dashboard to visualize key insights. Ensure it integrates critical data points with actionable intelligence and that it will support decision-making across the organizational team structure.

Banks can’t rely solely on traditional services and delivery — customer expectations have evolved. Prioritizing seamless experiences, personalization and proactive support builds trust, fosters loyalty and differentiates banks in a competitive market. Here are some practical ideas for your teams to work on —

Create customer journey maps. Map your customer journey to spot inefficiencies and opportunities across digital (website, apps, ATMs) and physical (customer support teams, loan officers, etc.) touchpoints. While this activity overlaps with the tech audit, keep assessments distinct to identify both issues and ideal solutions for future planning.

Personalize customer interactions. Use existing available customer data to tailor recommendations, offers and communications in marketing efforts. While there may be some gaps in supporting technology, it’s useful to understand what segmentation is already available and put it to maximum use as soon as practical.

Strong brand management is crucial in banking as consumer expectations evolve. The most successful banks leverage their brand, and brand messaging, in unexpected but powerful ways, even as they are in the midst of innovation and operational change. Here are a number of ideas your team can consider —

Training and innovation in customer support. Ongoing training and innovation in customer support are one key to boosting brand awareness and ensuring a consistent experience. Empower staff to embody your brand values — such as empathy, responsiveness, and proactive problem-solving — in every interaction. Offer multiple support channels — phone, live chat and social media — to provide a seamless, branded experience. Consistently reflecting your brand’s commitment to exceptional service builds positive awareness.

Offer financial education and guidance. Structured financial education is an opportunity to grow brand awareness. By offering tailored resources (interactive tools, webinars, or physical events and materials), you can position your brand as a trusted advisor. Ensure these resources reflect your brand’s mission to empower customers, reinforcing your commitment to their financial wellness and long-term success.

Strengthen your employer brand. Your employer brand is extremely valuable to attract and retain top talent in a competitive job market. Here are specific action steps your team can take to strengthen your employer brand —

• Communicate core values. Clearly define your bank’s culture, mission, vision and values to align with employee aspirations and incorporate this messaging in recruitment and events.
• Enhance employee experience. Invest in well-being, career development and work-life balance to create a supportive and valued workplace.
• Showcase employee success stories. Highlight real employee stories of growth, achievements and positive experiences to build credibility and attract top talent.
• Leverage social media and review sites. Use platforms like LinkedIn, Glassdoor and Indeed to promote your bank’s culture, share employee testimonials and create a positive online reputation.

Beyond paid marketing, there are a number of additional efforts your team can activate that will enhance brand awareness, complement traditional advertising and help generate market interest.

Use social media engagement. Have your team build and manage your online presence consistently. Regularly engage with customers by sharing informative content, answering questions, and responding to feedback. Encourage customers to share positive experiences or testimonials via hashtags or community contests, amplifying authentic word-of-mouth.

Consider content marketing. Create content that is valuable to your prospects and customers. Develop blog posts, educational articles, videos or infographics that address customer pain points and financial insights. Use the content on your website and organic social media, consistently positioning the bank as a trusted financial resource.

Promote your commitment to security and transparency. Be sure to highlight your commitment to security and transparency consistently and often. Use clear, approachable messaging to educate customers on secure banking practices, policies, fees, and data privacy. When customers see your brand as reliable and transparent, they’re more likely to trust and engage with your services.

Leverage free public relations. Maximize free public relations opportunities by having your internal team craft press releases to announce company news, product launches and community initiatives across relevant, cost-free channels. Position executives and key staff as thought leaders by securing placements for articles, interviews or guest posts in local or industry publications and platforms that align with your target audience.