Searching for Digital Engagement

Difficulty in locating information is the top problem for digital banking customers today. One in 10 consumers complain that “it’s hard to find services, products, and information I need.” While nearly every bank has a prominent search box on its public site to assist new customers, fewer than 1 in 3 offer digital banking customers the same convenience. Helping consumers discover new features, functions, and products is critical to deepening relationships with digital-first customers. 

The industry is investing millions of dollars in consumer-facing applications of artificial intelligence, and yet, pioneering banks are still struggling to encourage customers to adopt conversational tools and interfaces. Banks must deliver a consolidated interaction model to consumers that does not ask them to choose among different tools when they have a question or problem. The bank must direct their request to the appropriate resource, be it a search engine, bot, virtual assistant, or live rep.

Key questions discussed in this report:

• What impact does search have on digital banking satisfaction?
• How do search experiences differ between public and secure sites?
• Have chatbots and virtual assistants replaced the need for search?
• How does search enhance digital self-service options?
• What impact does personalization have on search?

Companies Mentioned: Bank of America, BBVA, Chase, U.S. Bank, USAA, Wells Fargo