You know the headline – in fact you could write the story on the explosion in digital banking transactions during the last pandemic year.
But do you know this: there has also been an explosion in the use of digital self-service information gathering and problem solving.
That’s the surprising news in a report from TimeTrade SilverCloud, a provider of customer engagement solutions.
In this podcast Bill Clark, CEO of TimeTrade SilverCloud offers the specifics – and prepared to be surprised. Everybody knew members have been using digital to check account balances and pay bills but who knew members were making strong use of digital to investigate everything from PPP loans to how to get contactless debit cards.
By TimeTrade SilverCloud’s data, “Usage of online self-service increased 38% from March to April 2020 and has sustained a level 69% greater even a year later – demonstrating a shift in customer behavior to leverage self-service options before reaching out for live support.”
Another factoid: Usage of knowledge based in mobile banking apps is up 82% year on year.
A third blockbuster number: “Chatbot usage on bank and credit union websites and mobile apps increased 272% year-over-year.”
A last fact: Credit unions saw a 107% increase in year over year in pre-scheduling in branch appointments from Q1 2020 to Q1 2021.
The numbers tell the story: Something big has happened in regard to how we do our financial services.
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