According to FIS, 50% of customers abandon a digital loan application if it takes more than three to five minutes to complete.
“As consumers, we still think about our experiences with Apple, our experiences with Amazon, and want to apply that to every other e-commerce experience we have,” says Charles E. Potts, ICBA executive vice president and chief innovation officer. While bankers may not think about a loan or a checking account as something to shop for, that’s what potential and current customers do. And to meet customers’ expectations, community banks must upgrade their digital experiences.
“We’re at the point that having the best possible digital experience is no longer just a cool thing that sets you apart from your competitors,” says Joshua Jordan, digital engagement director at financial technology company Jack Henry. “It’s table stakes.”
Here are some examples of how community banks have gone through this process, for the good of their bank, their employees, their customers and their bottom lines.
Read the full article: https://www.independentbanker.org/article/2024/07/03/maximize-your-community-bank%27s-digital-experience
This article was originally published on independentbanker.org. Accessed on Dec 9, 2024.
Start the Conversation
AVANA Companies has originated $1.7B+ in commercial real estate loans across 23 years and all 50 states. Whether you are exploring private credit, hospitality investment, or another real estate opportunity, our team is ready to help you find the right structure for your goals.
Bring us your deal — we will get back to you within 24 hours.
Contact AVANA | 1-877-850-5130
