Providing the opportunity to give customers financial education tools and resources through banks has been an increased discussion topic since COVID-19. This opportunity keeps banks competitive in the market and helps customers gain trust.
Here are 4 reasons why banks need digital financial education programs for consumers:
Personalization for the consumer journey increases the importance of competitiveness amongst banks and other financial institutions. Every consumer has a different lifestyle or financial situation. Having the ability to create personalized financial education through a digital outlet will improve customer satisfaction and give them solutions to build the opportunities they want in their life. For example, our Financial Fitness Platform allows users to rate themselves on various financial topics from beginner, intermediate, and advanced to give them recommended courses.
In light of COVID-19, financial institutions must adapt to digital environments to accommodate flexible education. Many individuals are working remotely still, which results in the ability to take financial education courses on their own time.
Customer Trust Increases
If banks provide their customers the opportunity for digital financial education, it will help build customer trust and refer others to be a part of that bank’s customer base. The chance of financial education builds loyalty and shows the bank cares about the well-being of their customers.
Financial Literacy on Essential Topics
The Internet is filled with so many different sources that it can be oversaturated and overwhelming for people looking for information on various topics. By providing financial education resources, customers can have one platform where they have a wide array of financial information at their fingertips. Important topics such as retirement, student loans, reducing debt, and more efficiently through one universal platform.
Financial Fitness Group offers solutions through our Financial Fitness Platform where users can have personalized financial education 24/7. Through the option of providing course recommendations, powerful gamification tools, and over 400 educational courses, users can build their financial knowledge to increase their attitudes, behaviors, and confidence revolving around finances.