Procative consultative retail banking has never been more important than at any other time in history. It is this shift that will allow well prepared community banks to experience a renaissance in customer growth and satisfaction when compared to large online banks.

Most of your customers prefer to bank online when available unless, they need to talk to a real person. Take a look at the statistics below:

A significant majority of consumers (71 percent) prefer to manage their bank accounts through a mobile app or a computer. (American Bankers Association)
The generation that’s most likely to prefer digital banking is millennials (74 percent), while Generation Z is the least likely (68 percent). (ABA)
Consumers are generally satisfied with their banks’ digital offerings, with 97 percent rating their mobile and online banking experience as “excellent,” “very good” or “good.” (ABA)
Additionally, 79 percent of customers say digital innovations in banking are making banking services more easily accessible. (ABA)
Despite the fact that few prefer branch banking over digital banking, 38 percent of customers say branches are essential. (J.D. Power)

These statistics beg to ask the question:

When your customers contact you because they are unable to fulfill their financial needs online, will you be ready?

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