Digital banking use is increasing and banks need to be prepared to offer a high-tech and high-touch experience.
Statista estimates that by 2025 there will be more than 217 million digital banking users, an increase of 10 percent since 2021. In a discussion with the Rochester Business Journal, Lazeroff discusses the challenges and opportunities that the digital banking environment presents to financial institutions and where GRB has found success.
Lazeroff noted that customers are looking for support in both transactional items, like making a deposit or paying a bill online, and more complex pursuits, like applying for a mortgage.
“I think there’s a pretty high expectation that those things can be done digitally and seamlessly from wherever you are, whenever you want to make those transactions,” Lazeroff said.
The pandemic certainly had an impact in pushing technology adoption in the banking world. One example is GRB’s online application process for home mortgages.
“We have a full process whereby somebody can apply for a mortgage loan and that whole process can be handled digitally and it’s seamless,” Lazeroff said. “It’s been very successful, and we continue to build upon that.”
But she is also quick to point out that there is still a need for personal interactions in banking.
“We very much believe, and we certainly continue to see in our data from our marketplace, that there’s also the need and the interest to marry that seamless digital delivery with a high touch, relationship-oriented approach,” said Lazeroff.
