Customer service in the COVID era


Note from the editor

In early 2020, as in years past, banks large and small had to weigh and measure the right mixture of physical and online presence and a personal touch to serve the rapidly changing demands of customers. 

When the pandemic arrived, banks' approach to their customers, as everything else, immediately changed. Branches quickly became vacant. Mobile banking, already rapidly evolving, became paramount, as did banks' ability to support the service and technology. Banking deserts suddenly manifested in the digital space, not just the physical. 

But financial institutions — small ones, too — that have solved this portion of the customer service puzzle are leaving their mark. Community banks, digital banks and fintechs are finding new ways to meet customer needs.

Banking Dive has collected a number of pieces that demonstrate how banks have adapted to survive and thrive in this new normal. We hope you find them valuable to better serve your customers' needs.

Andy Burt Managing Editor

Why some lenders are going all-in on video banking

OceanFirst Financial plans to extend its video banking services to mobile devices, while U.S. Bank recently added video to its co-browsing service.

• Published June 8, 2021

How U.S. Bank tripled its digital account openings

"It was taking customers 10 minutes to get through this application, and that's just way too long," said Jonathan Burns, the bank's senior vice president and head of digital sales experience.

• Published March 17, 2021

Can banks win in the booming buy-now-pay-later space?

While BNPL represents a relatively small niche of the payments ecosystem, banks should take note of what the growth of that silo says about the next generation of consumers, one consultant said.

• Published March 2, 2021

Rethinking overdraft

While many stakeholders would agree banks need to revamp the fee-based model, it remains to be seen whether change will come through legislation or the market.

• Published July 12, 2021

Early prep for stimulus payments pays off for digital banks, customers

"Digital banks are nimbly making strides, and incumbents are fully captivated," said Lane Martin, a partner at the consulting firm Capco.

• Published March 16, 2021

How the human touch in Umpqua's Go-To app became a relationship driver

• Published July 24, 2020

New FDIC CIO: 'Technology is the best enabler of banking the unbanked'

"I think the vectors of success for dealing with the unbanked are going to be digital in nature," said Sultan Meghji, who worked on an aid mission to help implement digital banking in Africa.

• Published Feb. 23, 2021

Startup Paybby buys neobank Wicket to fast-track Black banking

"I started looking at the market, and I was aware that banking was at an inflection point, because of technology," founder Hassan Miah said. "It's sort of having its Amazon moment."

• Published Feb. 1, 2021

Black-owned businesses leaned harder into fintechs on PPP, Fed data shows

• Published May 28, 2021

Chase study highlights growing popularity of digital banking

The COVID-19 pandemic has increased consumers' reliance on mobile banking tools to manage their savings.

• Published Aug. 5, 2021

Customer Service in the COVID era

In 2020, banks had to measure the right mixture of physical and online presence to serve rapidly changing customer demands. Mobile banking has now become paramount, as has banks' ability to support the service and technology.

included in this trendline
  • How community banks plan to keep their PPP customers
  • How the human touch in Umpqua's Go-To app became a relationship driver
  • How digital bank Current builds products for essential workers
Our Trendlines go deep on the biggest trends. These special reports, produced by our team of award-winning journalists, help business leaders understand how their industries are changing.
Davide Savenije Editor-in-Chief at Industry Dive.