Article: “Web Forms: A Bank’s “Face” Online”

Author: Katrina Garza, Manager of Customer Success at FormAssembly

Website/Publication: ABA Bank Marketing        

Article Summary:

In this ABA Bank Marketing article, authored by FormAssembly’s Manager of Customer Success – Katrina Garza, she covers:

  • The increased propensity of consumers to interact with their bank online, therefore, making a well-designed web form critical in improving conversion and overall, stickiness.
  • How web forms can not only improve a bank’s customer experience but also help streamline its back-of-house operations.
  • Banks’ continued move towards digitalization, and how web forms need to be an essential component of their digital strategy.

The Highlights:

Katrina on changing consumer behavior:

“According to PwC’s 2017 Digital Banking Consumer Survey, nearly half of consumers now only interact via digital channels with their financial institutions, skipping physical branches altogether. This means your web forms need to be just as responsive, intuitive, and efficient as your tellers. It is very likely that your customers’ first—and possibly only—interaction with your organization will be online.”

Katrina on a web form’s enhanced capabilities:

“Online forms allow banks to easily connect their web forms to a customer relationship management (CRM) system, enabling them to strengthen client relationships and build engagement. By using pre-fill connectors, banks can make sure that their customers do not have to enter the same information multiple times, providing customers with a personalized, simple experience.”

Katrina on how web forms helped a financial services provider improve customer experience and save resources:

“Previously Dharma would have a 30-45 minute call with a client to get them enrolled. Then the client would mail in the appropriate trailing documents, and finally an employee would re-enter all the client’s data into their database before the account could be finalized. Dharma implemented web forms for its new customer onboarding, and cut its pre-application process time by 78 percent. The company also saw an enormous lift in data accuracy when it reduced the opportunities for human error.”

Read the rest of the article on ABA Bank Marketing.

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