Customers today have more choices than ever on how they interact with Regions – in the branch, over the phone, or through digital platforms such as online banking and the mobile app. And at an increasing pace, customers are turning to digital banking. In fact, Regions’ mobile app saw 9% growth last year while person-to-person payments originating through digital banking increased a staggering 142%.
While much of the growth in digital banking was fueled by the pandemic, the increased level of usage of these platforms is sustainable, even as individuals return to a “new normal” way of life.
“We have a growing relevant, important segment of our customer base that expects – and in many cases demands – the speed, ease of use, convenience, and security that’s uniquely offered by digital solutions and platforms,” states Andy Hernandez, Chief Digital Officer at Regions.
That segment is redefining what a relationship with the bank looks like.
While the traditional banking relationship has been thought of as in-person interactions between a banker and customer, a new definition is emerging that is centered around recognizing that customers want choice in how they interact with Regions, and that choice includes modern digital banking options.
“There’s now a direct correlation with digital technologies and digital solutions that’s relevant to how they [customers] define what a relationship with the bank means,” states Hernandez.
The challenge to strengthen the customer relationship through digital banking is fueling innovation in digital channels. For example, the bank is developing on a state-of-the-art, intuitive digital money management tool to help customers take control of their financial health. This new tool will help customers budget, manage debt, and set financial goals. According to Hernandez, “Things that are best bankers do in person or over the phone, we’re going to be able to do that digitally.”
Additionally, customers can expect continuous improvements in digital banking, including updates and additions to online banking and the mobile app. It’s all part of Regions’ commitment to make banking easier for our customers.