Six Alert Flaws That Banks Can Fix Today

Alerts form an important part of the bank-customer relationship because they enable banks and credit unions to initiate meaningful digital conversations and boost digital engagement by enticing customers to log in to learn, seek advice, and act. Yet a Javelin Strategy & Research analysis of eight major U.S. financial institutions shows that alerts remain difficult to find and set up, and they rarely provide a forward spin that enables customers to pre-empt problems, recalibrate, and act at decisive moments. 

For customers, the question is whether the hassle of setting up alerts is even worth it. FIs fail to showcase alerts on their homepages, leaving customers to scroll through lengthy menus to find what they’re seeking. Once a customer lands in the alert dashboard, confusing organization and a lack of consistent options for settings across digital channels further complicate the customer experience. In short, there’s much that digital banking strategists can do today to address six fixable shortcomings.

Key questions discussed in this report: 

• What mistakes do FIs commonly make in positioning alerts and designing experiences with alerts? 
• Why does the lack of visibility of alerts complicate customer journeys? 
• What could FIs do to make alerts easier to use and more valuable? 
• Why are forward-looking alerts a key distinguishing factor?

Companies Mentioned: 

Ally, Bank of America, Chase, Navy Federal, Regions, Truist, U.S. Bank, Wells Fargo