The leaps and bounds of technological advancements in the last decade seem to be evidence of the principle of accelerated change. As one technological innovation paves the way for more, the result is an age where technology is advancing almost at the pace of imagination.
Like many industries, the financial services industry is experiencing explosive growth in certain sectors as digital experiences increasingly take the place of physical ones. As digitization transformed the way financial institutions work, it also allowed many of them to thrive even in the face of a world-wide pandemic. Migrating traditional banking services to their digital counterparts meant FIs could still do business as usual, even as consumers decentralized their buying journey more than ever before.
And the principle of accelerated change is equally seen in consumer behavior which has been forever changed as a result of Covid-19. As consumers were urged indoors, buying habits, and indeed banking habits, changed permanently. Consumer preferences are now digital by default “as the pandemic brought 2025 to 2020” and forced brands to keep up with shifting expectations.
The insightful FI leader sees the potential of digitization to engage banking consumers at a level never experienced, or never possible, for previous generations. User-oriented communications that utilize innovative tech brings with it a competitive advantage. And the great news for FI execs is they don’t have to be a tech wizard to successfully engage banking consumers and fight off the competition. A recent Financial Brand article points out that as U.S. consumers increasingly expect digital-first financial services, fintechs are growing rapidly in response. These financial technology companies can bridge the gap between the products and services that support a consumer’s financial journey and the digital experience that they expect. From chatbots to crypto exchanges, fintechs equip the banking industry with the tools that make it more efficient and more engaging than ever before.
DeepTarget is an award-winning fintech that helps financial institutions grow by simplifying digital marketing so they can deliver amazing consumer experiences that result in up to 10X more sales and lasting relationships with their digital users. DeepTarget credit union and bank customers are delivering more relevant and personalized communication than ever before even as they transform their marketing departments into profit centers. Everyday, these financial institutions are demonstrating that digital engagement does not have to be hard to execute successfully.