Unlocking Untapped Potential in Banking: A Conversation with Jim Marous
At the Financial Brand Forum 2024 in Las Vegas, John Findlay from Lemonade LXP chatted with Jim Marous from Banking Transformed to discuss the biggest opportunities and challenges facing the banking industry today.
The Biggest Opportunity in Banking Today: People
While artificial intelligence (AI) and data are hot topics, the frontline staff represents one of the most significant untapped opportunities in banking. With banks rolling out a broad range of products and services, there’s an immense potential in empowering staff to articulate these offerings effectively to customers. “Your frontline staff is untapped potential,” John noted, highlighting that employees are often the key to unlocking growth and customer engagement.
The Biggest Challenge: Digital Fluency and Data Management
John pointed out that understanding AI and effectively using data remain major hurdles for banks. Digital fluency among staff is another critical challenge. Many employees don’t bank with their employers, so they aren’t familiar with the technology they’re supposed to promote. This gap makes it difficult for them to guide customers confidently.
Making a Difference
John explained that frontline staff need to be trained to improve their digital fluency, enabling them to effectively communicate the value of banking products and help customers transition to digital solutions. Lemonade LXP’s digital adoption platform is the fastest tool available for creating walkthroughs of any software, offering real-time support for customers and contact center agents. This enhances the customer experience, improves efficiency, and reduces agent friction.
The Final Squeeze
As John concluded, “Improving digital fluency and supporting both customers and staff with intuitive, real-time training tools is key to reducing friction and enhancing overall experiences.” Lead the way to the future of banking by empowering the people who drive your transformation, ensuring success through their knowledge and engagement.
Jim Marous & John Findlay from LemonadeLXP at the Financial Brand Forum 2024.
