Banks need to update their discourse on the ‘customer journey’ and propose new formats in their customer relationship

Bogotá, September 14th, 2020.- Latinia, company specializing in real-time event processing software for banking, analyzes current customer relationship strategies in the financial sector and suggests to banks “overcome approaches based on the customer journey only but to focus on their financial moments”. “Not only are no two clients alike, but neither are there two equivalent moments in financial life. The finances of a person in the morning are not the same as in the afternoon, but yes it is the client as an individual”.

In recent years, digital banking or any e-commerce business managed to capture with relative ease the profile and data of users from their web pages, Apps and other digital tools, to proactively send them notifications and messages trying to push them into his journey to the stage of the final purchase, encouraging him, when he left the purchase process, “to continue with the journey”, always trying to wrap him up with a good user experience. “The generation of positive, memorable experiences, logically, is contradictory to the number of these: you cannot always be delighting everyone, in case sometimes a few, choosing -and understanding- the circumstances … and the moment”, explains Oriol Ros, Latinia’s director of corporate development.

“Knowing the context of a client cannot be the excuse to measure or understand our relationship with him from the number of impacts he receives, but we must transfer this approach to the quality of those interactions, not to the quantity. The promise of the ‘customer journey’ cannot be understood as a whole or the only alternative to try to retain a customer, as it often causes an excessive approach to it and, as such, a bad experience. The bad practices in this field have generated great controversies, putting in the same strategy different ways of understanding how to generate value to an interaction with the client”, informs the Latinia spokesperson.

“That today there is no better option to communicate with users than through digital channels is a no-brainer debate indeed, but if during this period the customer’s sensations have changed, the two-way communications should also be modified. What the bank says or does today will depend on what they’ll will be tomorrow as an institution. The ‘customer journey’ grew based on the idea that customers who receive consistent and relevant experiences better meet their needs and are more likely to stay loyal, but these sort of interactions are not a guarantee of anything but also share space with others ways of communicating with their clients ”, concludes Oriol Ros.

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