People’s experience with the financial services industry lags behind the experience they receive elsewhere, and the shortcomings are even more apparent during the COVID-19 pandemic, new research from MMR LIVE shows.
The findings are included in the forthcoming ExperienceBuilt™ Brand Index from Atlanta-based MMR LIVE. The Index looked at how brands delivered against MMR LIVE’s Eight Principles of Experience Design.
The findings are supported by new research from parent company MMR Research Associates, which found the COVID-19 pandemic is hastening a shift toward digital banking, one that is likely to continue after the outbreak subsides. The research also found that roughly two-thirds of consumers expect to increase their reliance on digital banking following the pandemic.
“The survey data clearly shows more people are willing to go digital with their banking experiences,” said Patricia Houston, Founder and COO of MMR LIVE, an experience design group. “They just needed the extra push to do so, and COVID-19 gave them that reason. Moving forward, banks should look at how they can expand and enhance their digital offerings without sacrificing the customer experience.”