Virtual banking is nothing new. It started to gain recognition 20 years ago in the West and soon later in Asian countries like Japan and China. In late March 2019, Hong Kong issued the city’s first-ever virtual banking licenses. Still, we’ve got a lot of work to do to catch up with the rest of the world.
Competing with a time-proven traditional banking system, the advantage of virtual banking comes down to customer experience (CX). Imagine there is no more confusion over opening hours and waiting in line, with everything replaced by real-time consultation and online transactions over clicks and taps with your mobile devices anytime, anywhere. A smooth, seamless customer experience is what makes all the difference.
With our expertise in digital transformation and omnichannel marketing for financial institutions, we are presenting the ideal model to bridge the gap between agile virtual platforms and traditional financial services: VIBE.
Referring to Virtual Insurance and Banking Experience in its full form, VIBE is an all-in-one CX platform for digital banking and insurance services. From development to system maintenance, sales, and marketing, VIBE is a full package — covering customer experience, community management, and digital transformation.
Customer experience
A customer experience that involves any human-computer interaction (HCI) like mobile devices or kiosks is often associated with user experience (UX). Our UX approach follows a systemic process to understand needs and deliver the best possible experience for the end users.
Our 5 step UX approach:
1. Empathize and understand the needs of clients and users
2. Define our goals, customer journey, personas, etc.
3. Ideate solutions and strategies
4. Develop prototypes for testing
5. Conduct continuous test-and-learn to optimize usability and utility
To decide whether your business should invest in UX, one can consider the benefits and positive ROI generated by the methodology. A UX process focuses on improving usability, navigation, minimizing errors and load time. A user-friendly experience not only appeals to your customers, but also the search engine, which will likely result in a sustainable increase in organic search rankings and traffic.
Community management
The next step is to ensure our customers stay loyal and engaged. Supported by measurable analytics and management platforms, our team provides customized social media strategies catering to the brand’s unique positioning, values, and audience interests. The engagement channels available range from content marketing, email marketing to loyalty program.
Digital transformation
To optimize social media ROI, a business needs more than merely a Facebook page, but an omnichannel marketing strategy to re-align all marketing channels and digital touchpoints for a seamless experience, e.g. from social media to website, smartphone to tablet, etc. AI cognitive ads and marketing automation tools are some other useful tactics to engage customers and derive analytical data, while reducing wasted efforts and resources.
Case study
1.Blue, the 1st digital insurer in Hong Kong
We were honored to pull off an omnichannel debut campaign for Blue, with 360-degree touchpoints covering social media, video production, web/mobile production, SEO/SEM, as well as innovation such as cognitive ads, an AI chatbot capable of suggesting interest-based offers to engage users individually and generate sales leads.
2.Maxim’s Group
Working closely with our UX specialists, we have launched a loyalty program mobile app for Maxim’s group, one of Asia’s largest food and beverage companies. Upon completion of a series of user research, customer journey mapping, on-site observation, and competitive analysis, the app was designed to facilitate sustainability of a reward system, convenient reservation and search for restaurants.
While targeting at financial services, VIBE is a comprehensive model that can apply to any businesses aiming for a profound transformation and seamless user experience. Contact us today to explore the solutions available to your business.