More and more consumers are betting on entering the new digital banking models, with which 2022 is expected to be a year of high competition for the delivery of more agile loans and the capture of new profiles, according to a recent study by I AM, analytical decision platform aimed at optimizing interactions in all customer choices.
The report indicates that more than 70% of customers worldwide expressed their willingness to open an account digitally through an application or a website. However, half of all customers exit the digital onboarding process if they have to answer more than 10 questions, and only 21% of respondents said that they would complete the process if asked to leave digital channels, that is, go to a branch.
Jose Augusto Gabizo, President of FICO Latin America and the Caribbean, the coming year will be marked by a broad demand for digital solutions, new strategies to improve the customer experience and the accelerated growth of digital tools from the confinement of the pandemic.
“Customers are more and more demanding and want companies to know their needs more and more, to offer them products that meet their expectations. Companies will have to invest in technological platforms to get to know their followers better ”, Gabizo affirmed during the presentation of the platform FICO® Originations Solution, which allows you to optimize and personalize the customer experience, by eliminating unnecessary friction in all channels.
Along these lines, the specialist pointed out that the main five emerging trends for next year will be the following:
- Create a unified experience: map the entire customer journey
- Investment in technological infrastructure: adopt a robust platform that generates agility and intelligence for all areas of the company
- Faster and smarter decisions: solutions that meet increasingly demanding customer expectations
- Harness the power of data: maximize data monetization effectively and responsibly
- Education and financial well-being: humanize digital experiences and care about customers.
For its part, Fabio Goepfert, FICO’s senior regional director of sales, noted that 47% of people between the ages of 18 and 26, known as new millennials, prefer to open an account through a digital channel or mobile application. This percentage jumps to 57% when it comes to people between the ages of 27 and 37, known as senior millennials.
A little more conservative is the generation X scale, which includes people between 38 and 52 years of age, with a 44% preference for opening these types of accounts. Finally, the agents of the generation of baby boomers, between 53 and 72 years old, still show a little reserve towards these tools, since their preference to use them only reaches 25%.
Along these lines, Goepfert pointed out that brands or companies should focus on creating an experience worthy of the best customers, have good fraud management strategies and personalized prices, improve effectiveness in pre-approving customers and prospects, and simplify the concession process. of credits.
“We are seeing a change in people’s behavior, and we saw this in talks with clients from Latin America. The need for credit, which many times was not in many user profiles, now exists. This is an opportunity for financial institutions to manage in their portfolios some types of profiles that they did not have before: people who received very good income, but now they do not have so much; and others that did not resort to loans and now they are, “he remarked.
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