Offering personal service in a digital world
How building digital connections can help turn regulatory risk into long-term reward
It’s a volatile time in the banking sector. One example is the multi-year crackdown by the SEC scrutinizing non-compliant customer and member communications via employees’ personal texts and WhatsApp messages. The ongoing issuance of significant fines puts the onus on financial institutions to improve their regulatory compliance while maintaining and elevating member confidence and trust. The challenge, however, is that most banks and credit unions struggle to evolve their services and are unsure of what tools and guidance are available and efficient to use to even get started.
From my nearly 25 years of industry tenure, I firmly believe there’s a longer-term upside that may be going unseen, one that could give financial institutions a competitive advantage by enabling the hybrid human/digital relationship members seek.
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