Recent events in the banking industry have left consumers and bankers alike rattled. To allay consumer anxiety, banks are looking for creative ways to bolster trust in their institutions. Paying higher rates on deposits, competing in products, services, perks, etc. are all critical customer retention strategies but are shortsighted ways to differentiate one bank from another.

The better, long-term strategy to retain customers is to humanize the digital experience by engaging every customer using personalized, 1:1 communications from day one. Proactively engaging and educating customers drives them to take action, builds relationships and earns their trust. This drives long-term stickiness and retention, especially in periods of tumult and uncertainty.

In this discussion, you will learn:

• The importance of earning and maintaining customer trust as digital continues to grow
• How to meet customers where they are today on the channels that they prefer
• The benefits of sustained, personalized engagement from day one, including increased loyalty and retention

THOUGHT LEADERS:

Tom Bohache
Vice President, Product Line Manager
Fifth Third Bank

Tom has been at Fifth Third Bank for 4.5 years and is currently responsible for the product strategy and execution behind the bank’s consumer checking & debit card products. Prior to joining the bank, he was the general manager of a New York City-based Series C FinTech (where he spent 6 years) that provides end-to-end white label loan origination & servicing solutions for credit unions and community banks.

Terry Badger
Managing Editor
BAI

Terry Badger, CFA, is the managing editor for BAI’s thought-leadership content – the BAI Banking Strategies newsletter, podcast, website and executive reports. He previously served as Director of Investment Content at USAA, where he oversaw the organization’s investment-focused content. He also spent 12 years with The Associated Press, where he held several positions, including assistant national editor for financial news in New York.