Client Portal overview
August 4, 2021

4 Steps To Boost Conversion And Exceed Customer Expectations

Key takeaways
  • Customer experience is now more important than ever, meeting customer expectations is the core of success.
  • FinTech solutions are the golden ticket into the world of customer conversion and satisfaction, traditional service providers need to embrace it.
  • Mobile banking is becoming the core of all banking.
  • Harness the power of customer service to build trust and ensure security.

Everyone knows that customer is always right, but an excellent customer experience goes above and beyond that. The secret to providing high-quality customer service is to meet customer expectations. We all know that pleasing one customer is sometimes difficult and requires much more effort than expected. Pleasing two customers with completely different needs is a challenge that requires way more resources. And ensuring a great customer experience of hundreds of thousands of customers is...well, a constant battle. So what is it, that makes customers’ expectations so difficult to meet?

Innovation Is Inevitable

Emerging technologies and innovations undoubtedly shape customers’ expectations. They're becoming fussier and fussier when it comes to choosing a service - any service. New providers offering top-class services or products like Apple, Google, or Netflix don't make it any easier. As a result, financial institutions are being approached by customers requiring instant or on-demand access to financial services.

As recently as several years ago, nobody expected that the developing technology would have such an impact on the financial industry. Today, people can manage their assets with just one click. Person-to-person money transfers, one-click online shopping, or instant investments take as little as opening a mobile app. Providers with innovative solutions and excellent customer service as their core are making it difficult for traditional businesses to attract new clients. To stand out from the crowd of competitors, traditional financial services must catch up with the innovations and meet customer expectations.

Generally, the financial industry is going through a revolution in itself, adopting new technologies and digitalizing processes. One thing you should keep in mind is that the digital transformation should best serve the changing needs of customers. A key to success is to close the gap between customer expectations and their actual experiences. One way to do it is by implementing FinTech solutions like our digital client onboarding platform that not only improves internal processes but also helps to exceed customer expectations. You should also remember about the user feedback role, as harnessing the power of customer feedback may result in a great conversion and retention boost.

What Do Customers Expect From Financial Institutions?

Ease and Accessibility

With nearly 70% of banking done digitally in the US and 76% of online banking in the UK, we can only assume that the rest of the world isn't that far behind. Financial services need to focus on providing digital platforms and mobile apps to meet customers’ expectations. And these are only going to be higher. With 51% of millennials preferring mobile banking, mobile apps are expected to have a full range of services and features allowing clients to easily manage their money.

Having digital access to a bank account is convenient, but not being able to get in-person advice may be a pain. Research proves that 50% of customers want access to both physical and digital services. It's especially required from high-quality providers. To win the customer, financial services should be accessible both online and offline.

Excellent Customer Service

Customers expect high-quality service in every aspect of their lives - 50% of the customers, to be precise. And the reason to address this particular demand is that - as customers admit - it influences their loyalty. And since loyalty is interconnected to retention, it makes it even more important for businesses to boost the quality of their customer service.

Emerging technologies make it easier than ever to provide personalized, meaningful interactions, and a seamless omnichannel experience. No wonder, customers want more of that. The demand for live chats and chatbots is rising with mobile chats becoming especially popular - according to research conducted by Forbes, more than 50% of chat queries come from mobile. Moreover, the same research shows that “interactions that include co-browsing – which allows the agent (with permission) to view and interact with a customer’s web browser in real-time – show customer satisfaction rates that are more than six points higher than the average, at 89.3%”.

mobile chatting
Mobile chats and chatbots allows businesses to provide a great customer service.


Nowadays, personalization is so immersive that not experiencing it feels odd. Businesses use it at every step of their communication with the customer - from addressing the target audience, through selling products, to sending personalized offers via emails. Customers expect services and features tailored to their needs. 54% of digitality-oriented customers would like their financial institutions to send them personalized offers based on their location. What's more, they expect specific and timely offers send to them when needed. They also appreciate highly relevant interactions - leverage that by tailoring your offerings to their needs.

Trust and Security

Trust and security are key steps in the pre-purchase decision-making journey. Not just because they're essential in the financial industry, but mainly because in 2021 peer reviews, recommendations and brand trustworthiness are prevailing regardless of the industry. Anyhow, when it comes to banking, 53% of quality-seekers claim their loyalty is highly influenced by the trust that their personal data is being protected. Client onboarding is the first touchpoint allowing you to build trust and ensure security - embrace it!

Digital Onboarding - The Easiest Way To Provide Excellent Customer Experience

Consumer behaviors and expectations are changing in ways that challenge industries and force businesses to transform their strategies. Financial institutions are no exception. To meet or even exceed customer needs, financial services need to blend digital-first with traditional values. Besides omnichannel service and easy access to mobile banking, customers expect a variety of in-branch possibilities and excellent customer service.

We, at HelloFlow, give aspiring financial service providers a visual set of components to assemble and launch a fully compliant digital onboarding process. We enable companies to excel at customer experience through digital onboarding, an intuitive CRM system, and more. Customer experience defines their lifelong relationship with a service provider - use onboarding as leverage to ensure customer satisfaction, conversion, and retention. Why tell you when we can show you - book a demo now. Or try the platform yourself by applying for a free trial account.

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