Strategies to Boost Digital Engagement in Banking

Crystal Mullins of OSG, emphasizes the need for businesses to modernize Customer Communications Management (CCM) to meet evolving consumer expectations. Companies must move from compliance-focused documents to dynamic, interactive, and user-friendly communications. Crystal Mullins highlights five key strategies for modernizing CCM: 📖 Prioritize Readability and Usability Beyond compliance, documents should be optimized for various devices, especially mobile. Clear layouts and concise content improve comprehension by 47%, reducing customer support inquiries. ⚡ Leverage Interactive Features Interactive documents—like one-click payments and embedded tools—boost engagement by 35% and streamline customer actions. 🤖 Enhance Self-Service Capabilities Embedding AI-powered chatbots and FAQs within digital documents allows customers to resolve issues independently. Over 60% of customers prefer self-service over direct support interactions. 🎯 Personalize Communications Using data analytics to tailor content strengthens relationships and boosts satisfaction by 20%, fostering brand loyalty. 📲 Enable Multichannel Delivery Providing seamless communication across email, SMS, and mobile apps increases digital adoption by 25%, reducing reliance on paper-based communication. 🏆 OSG and InfoSlips’ Award-Winning Innovation OSG and InfoSlips won the 2024 Xplor Application of the Year Award for transforming Explanation of Benefits (EOB) documents into interactive, customer-centric experiences, enhancing engagement and efficiency. Businesses must embrace customer-centric CCM strategies to stay competitive. Enhancing readability, interactivity, self-service, personalization, and multichannel delivery ensures superior customer experiences and long-term success.

No one in the mortgage space has a real mobile strategy. Here's why that's a problem (and how to get ahead of it). Let's be clear about something: Having an app isn't the same as having a mobile strategy. Every major lender has an app. But compared to what consumers experience everywhere else? They're digital paperweights. Think about it: • Starbucks sends real-time notifications when your coffee is ready • Uber keeps you updated on your driver's exact location • Amazon tells you precisely when your package arrives But in the mortgage space? Your borrowers get radio silence. This is a $12.5 trillion industry that's completely missing the mobile engagement boat. And it's creating a massive opportunity for disruption. Why this matters: 1. The rules of engagement have changed Your borrowers expect seamless mobile experiences—especially during the most important purchase of their lives. But the mortgage industry is stuck in 2010. And here's the brutal truth: Borrowers will only download your app during the loan process. Miss that window, and you've lost them forever. 2. Eyeballs are the new currency In today's digital world, attention equals retention. If you don't own the eyeballs, you don't own the customer relationship. And guess what happens when you lose that relationship? Your borrower refinances with whoever has their attention. 3. The market is shifting dramatically In 2020, nonbank lenders' share of total mortgage originations rose to nearly 70%, up from about 50% five years earlier. Why? Because they're better at digital engagement. So how do you get ahead of this? Here's what forward-thinking lenders are doing: 1. Creating real engagement (not just functionality) Stop thinking about your app as a portal. Start thinking about it like Starbucks: • Push notifications when their file moves forward • Real-time alerts when loan officers are reviewing their application • Instant updates on key milestones 2. Driving adoption during the loan process Your loan officers need to make app adoption part of the standard workflow from day one. This is your critical window to demonstrate value. 3. Maximizing the first 14 days post-close The moment after closing is crucial. Have a strategy to: • Provide educational TikTok-style videos on essential homeowner tasks (mold inspection, utility setup, etc.) • Connect borrowers with vetted local service providers • Share actionable home maintenance tips and guides 4. Using behavioral data to personalize engagement Ask upfront how borrowers want to communicate. Then use that data to create hyper-personalized experiences they can't ignore: • Preferred communication times • Channel preferences (push, text, email) • Content interests

🚀 Rethinking Segmentation: AI & Analytics in Modern Banking 🏦✨ Many retail and commercial banks are at a crossroads: How do we move beyond legacy segmentation models — the ones driven mainly by product sales, static demographics, or broad tiers — to truly understand customers in real time? This is where AI and advanced analytics step in as game changers. 🔍 What’s changing? ✅ Data-driven segmentation: Instead of static segments, AI can cluster customers based on actual behaviors, transaction patterns, channel usage, and lifecycle signals. ✅ User flow insights: Banks can now analyze how customers navigate digital channels — from onboarding to everyday banking — identifying friction points and tailoring journeys in real time. ✅ Predictive engagement: Advanced models don’t just describe segments — they predict which customers are likely to churn, upsell, or need proactive support, enabling timely and personalized outreach. 💡 Why does this matter? For retail banking, it means moving from generic campaigns to micro-targeted offers that feel relevant and timely. For commercial banking, it means understanding the nuanced needs of SMEs and corporates based on transaction networks and industry shifts — not just size or revenue bands. 📈 The result? More relevant interactions, higher trust, better conversion, and a clear competitive edge in a crowded market. As banks race to become more customer-centric, AI-powered segmentation is no longer optional — it’s a strategic imperative. Curious to hear: How is your bank evolving its segmentation playbook? 🤝👇 #Banking #AI #Analytics #CustomerExperience #DigitalTransformation #RetailBanking #CommercialBanking #Segmentation