Business Inquirer, June 24, 2022, Approaching a new era in banking loyalty
The pandemic has brought many negative effects on various industries. For banks, it has meant phasing out physical presence. According to an analysis by the National Community Reinvestment Coalition, more than 4,000 branches have closed in the U.S. since March 2020.
This has forced the financial industry to not only develop a new model for collecting information about customers, their needs or their living situation. It’s also about finding a way to act on their emotions, be close to their dreams and goals, and minimize the inconvenience of the lack of the human factor — and thus build long-term loyalty.