Transforming the Retail Banking Customer Conversation

How Retail Banks Can Get More Out of Mobile with Layer

The world’s biggest retail banks have invested heavily in their mobile app strategies. They’re far from matching the reach of other popular consumer apps. But nearly 30 million monthly active users for JPMorgan Chase shows promise for an industry that was slow to adapt.

Now, consumer expectations have reached a point that simply having a mobile banking experience isn’t enough. Retail banks have to question whether or not they’re delivering real value for consumers—or if they’re just replicating a creaky old website on mobile.

Just this week, Layer COO John Montgomery and VP of Sales Bill Hu presented at FinovateFall 2017 to discuss this mobile challenge in retail banking.

Millennials might not want to visit physical branches, but they still expect personal banking services and financial institutions have to be ready to provide them through mobile.

Retail Banking Trends Demanding More Mobile Value

It’s not just mobile that’s changing the retail banking industry. Widespread digital transformation trends have disrupted the industry, creating a sort of “do-or-die” moment for retail banks in 2017.

Now is not the time to lag behind the competition. The following trends demand action from retail banks and a more valuable, consumer-facing mobile experience:

These trends (and the struggle to meet their demands) show that retail banks aren’t looking at mobile correctly. Rather than focusing on products and traditional metrics, banks should be creating customer-centric mobile experiences.  

This is where Layer can help.

Layer Helps Retail Banks Transform the Customer Experience

The Layer Customer Conversation Platform is built to help retail banks create a mobile experience rooted in valuable customer conversations.

But this doesn’t just mean improving the mobile user interface to drive more branch engagements. Embracing mobile messaging to drive the digital experience puts the full power of your financial services in the palms of customer hands.

Implementing rich conversations with the help of Layer lets your mobile app do things like:

These are just a few of the features that a Layer-powered mobile experience can offer. But if you want to get a better idea of how these rich conversations might work, check out this demo video showing the potential for retail banks:

Layer Retail Banking Mockup from Layer on Vimeo

Achieve Your Strategic Retail Banking Goals with Layer

At a time when competition is at an all-time high, retail banks don’t have time to let digital disruptors surpass them in customer experience. At the same time, decision makers can’t sacrifice business success for a disconnected mobile experience—the two have to be intertwined.

Layer helps retail banks achieve strategic priorities that use customer experience to drive business success, such as:

If you want to learn more about achieving these strategic goals with Layer, contact us today for a free demo of the Customer Conversation Platform.