08/20/2025
How to Enhance CX in Banking
Financial institutions face their fair share of challenges when it comes to growing and retaining a happy, loyal customer base. People have any number of choices of where to bank, and if you are like me, you might feel that one bank is the same as another. Plus, financial institutions all comply with the same government regulations, which can make it seem like most banking services are all the same.
When it comes down to it, this is what will really set your bank apart from the next: the seamlessness with which customers can interact with your services and the quality of service offered — i.e., the end-to-end customer experience.
Competition in the industry is fierce. It’s estimated that tech companies will swallow up 40% of the $1.35 trillion in financial services revenue from banks. Tech giants like Google, Amazon and Apple already have a huge base of loyal customers and they’re transitioning their success to financial services. A survey from Bain shows that consumers from the US and UK trust PayPal and Amazon nearly as much as they trust banks.
These companies are highly skilled at providing a level of fast, easy service that’s hard for regular banks to match. Tech companies have been honing their customer experience skills for years, and now they can apply it to financial services. Banks are being held to those standards and it’s getting tougher and tougher to keep up. You’re not only competing with the myriad of other banks — now you’re competing with tech giants too.
That’s why focusing on CX and providing a superior banking experience is so crucial for financial institutions, big or small. CX is often one of the few ways you can differentiate yourself from competitors. Even if your product can’t quite compete with other companies, offering a seamless and supportive experience can keep customers happy and coming back.
Here are 8 quick ways to improve CX in banking:
1. Look at it from the customer’s point of view
This probably seems obvious, but it can’t be overstated. See the world through your customer’s eyes, and see the way your customer buys!
Consider setting up a customer advisory board. A CAB will give you consistent access to a set of voices that can provide the external insight you need.
Regularly employ customer surveys after various transactions to get a sense of how seamless (or not) each transaction or service is.
Map your customer journeys. Walking the path that your customers take is the only way to really understand their pain points.
2. Get the C-suite to commit
In order to find success with your CX initiatives, you’ll need full buy-in from the higher-ups. Improving customer experience at your financial institution will likely lead to big changes in your current system, products and processes. Without support from senior leaders, it will be hard to see true change in your organization.
3. Establish a dedicated CX team
Rather than having one simple plan to improve CX, you’ll need a variety of strategies that involve people from all departments of your bank. Pull together a team of frontline AND managerial stakeholders from across your business to help manage customer experience improvement.
Depending on the scale of your customer experience initiatives, it may even make sense for your bank to bring in a dedicated CX role to head up this team.
4. Offer unique services
While this is arguably one of the more difficult aspects of providing an exceptional customer experience, having a product or service that truly sets you apart from competitors can be invaluable.
Look to leaders in the industry for ideas on innovative digital services. Bank of America attracts customers with access to its free virtual financial assistant, Erica, that helps people with everything from checking credit scores to bill payment reminders. Spanish bank BBVA’s app offers Bconomy, which helps customers track their finances and work toward a savings goal.
5. Balance digital and human service
While it is true that consumers now expect effortless digital services from their bank, you can’t rule out the importance of having humans readily available for customer support. You’ll need to find the right balance of the two.
6. Scale your efforts
One of the hardest parts of customer experience is getting your entire organization — every location — to deliver on new CX efforts in a consistent, sustainable way. Being able to successfully scale your customer experience is key for the health of your bank.
With your dedicated CX team, you’ll want to create a plan of attack for business-wide adoption.
7. Keep your brand consistent
Brand consistency bolsters CX efforts by guaranteeing your customers are always interacting with a familiar company. When your brand always looks and sounds the same — e.g., your design, voice, tone and messaging is consistent — your customers know what to expect. They’ll be comfortable with your brand, and you’ll see brand loyalty from them in return.
8. Follow up
Customer experience is something you’ll have to continually revisit. What customers want and expect from a financial institution will evolve over time. And once you improve one thing, something else will pop up that could be better too — that’s just the nature of business. Plus, CX improvement often isn’t a straightforward, linear process. There’s going to be trial and error, and you’ll need to keep at it to find the right solutions for your bank.
Dedication to leveling-up your customer experience will pay off in happy customers who are more likely to stick with your bank and recommend your services to friends. For more tips on improving CX and creating personalized experiences for your customers, check out
Jeff as a keynote speaker, he has spoken in over 50 countries and trained organizations in customer service experience strategies.
