Every person is different and therefore every person should have a digital banking experience tailored to them. This sounds good in theory, but in practice it’s very complicated and risky. For example, If the credit union personalizes the member experience based on a smart but imperfect guess, in most cases it will be a net negative result.
There is a right way and a wrong way to do personalization.
The wrong way is for the credit union to restrict member options or to give members complicated personalization options. The right way is for one click member-choice personalization.
One option I like is the ability to turn on dark mode. It’s one click personalization and, depending on whose data you look at, anywhere from 35% to 82% of users prefer dark mode. I wouldn’t say dark mode users are a cult, but their preference is very strong.
A personalization option like dark mode creates user satisfaction but also loyalty to the credit union. It’s a barrier to switching if other FI’s don’t have dark mode.
With enough one click member-choice personalization options your member is not leaving.
Author: Chris Doner, Founder and CEO, Access Softek