Until a few years ago, we stood in line at the bank, waiting to process our documents, open an account or receive our cards. Doing a bank chore meant missing lunch time or taking the day off, as it was a long and tedious process.
Fast forward to the current scenario, where instead of having to access multiple windows for signs and stamps, we can go to a website, click the link, enter the information, and your task is done. We get all of our checkbooks, credit and debit cards delivered to our door.
The growth of the e-commerce sector has fueled the growth of the door-to-door supply chain. The banking industry has made excellent use of e-commerce delivery companies to provide a seamless and hassle-free banking experience for their customers. Let’s learn a little more about the banking industry’s transition and how e-commerce delivery companies can help them improve their customer experience.
Introduction of virtual experience in the banking sector
Banking was a numbers game in the early days. More branches meant better reach and a better customer experience. But, emerging technologies have proven that whatever the goal, it can be accomplished through the screen. It suits the fast-paced modern lifestyle much better.
However, security is one of the primary needs of the banking sector. That’s why you have to go to the branch every time you work at the bank, even to collect your cards.
The concerns of the banking system were also justified. If financial documents, cards, and checkbooks are given to the wrong person, it could lead to serious cases of financial fraud.
But, as the e-commerce industry began to handle more and more valuable items like jewelry and electronics, e-commerce delivery companies devised proof of delivery systems.
The banking industry has taken advantage of these developments to provide the convenience factor in your banking activities. Let’s take a closer look at how post-purchase experience enhancement features from e-commerce delivery companies have helped the banking industry.
How have e-commerce delivery companies transformed banking?
Features like faster deliveries, order tracking, and delivery verification were initially aimed at the e-commerce industry. However, these features have played a vital role in transforming the bank into a user-friendly virtual industry. Some of the key features of e-commerce delivery companies that have enabled the banking industry to deliver their services to the customer’s doorstep are:
Proof of delivery
When the banking sector started delivery, the main concern was that the package would not fall into the wrong hands. The proof of delivery service provided by the delivery companies was one of the important factors, as the banks and their customers were assured that things would not be delivered to the wrong person.
Pushing the proof of delivery process further, e-commerce delivery companies have been able to provide more secure methods such as two-step verification and image and identity verification methods that have enabled the banking industry to make secure deliveries to their customers.
Deliveries in the banking sector are most of the time very time sensitive. The extensive supply chain of e-commerce delivery companies operated using multiple distribution centers has enabled banks to deliver and reach their customers on time.
When important items such as bank statements, credit cards or checkbooks are in transit, customers are bound to worry about their delivery. Enabling live tracking improves the customer’s post-purchase experience. This is one of the best ways to help customers and banks track deliveries and send notifications about their deliveries to your customers.
Improved customer support
Delivery systems allow banks to make all of their systems virtual. Innovative banks and card companies like Fi (Federal Bank) and Jupiter offer their full range of services through their website. This allows them to serve customers at any time of the day and provide faster resolutions to customer inquiries.
Virtual services are the fundamental essence of the modern lifestyle. Customers are accustomed to receiving products and services delivered to their doorstep. The physical network and its geographic coverage were vital but have been rendered useless by the technological evolution of delivery and the logistics supply chain.
The banking industry was once heavily dependent on physical infrastructure to provide better, faster and more secure services to its customers. The financial space has now started to focus on customer experience through the services of e-commerce delivery companies.
The opinions expressed above are those of the author.
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