The shift to digital-first banking has changed the way customers interact with their financial institutions. With 24/7 access to accounts, streamlined services, and innovative tools, banking is more convenient for so many people. The transition has also raised questions about inclusiveness, particularly for those who value face-to-face interactions.
As the CEO of Affinity Federal Credit Union, I’ve seen firsthand how important it is to balance technological innovation with personalized support. While many customers appreciate the speed and accessibility of digital tools, others rely on the human connection found in bank and credit union branches. While it’s challenging, it’s imperative for all financial institutions to ensure their customers find value in both the digital and in-person opportunities they provide.
Long gone are the days of being constrained by branch hours to transfer funds, check balances, and pay bills. Today, the challenge for banks and credit unions is what more they can do to enhance their customer’s experience on their website and through their app. Banks and credit unions must also consider if they’re doing enough to protect private information. Customers choose institutions that balance digital innovation with customer support and privacy.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
How to help tech-challenged customers
Digital banking features, such as automated savings, expense tracking, and budgeting tools, can also help our members make more informed decisions. How do we help those who are not so tech-savvy to understand these features? At Affinity, we have a suite of YouTube tutorials that have been instrumental in educating members who are typically more reliant on our branches than our website or app.
It’s also worth taking a step back to appreciate how far we’ve come since the dawn of the internet and the first digital banking services in the late ’90s. For example, one member recently shared how our mobile app allowed them to manage their account seamlessly while traveling abroad — a level of convenience that would have been unimaginable just a decade ago. Now, we have the opportunity to build on this powerful foundation.
Despite the benefits, not all members are eager to embrace digital banking. For some, the lack of personal interaction is a significant hurdle. Whether it’s the reassurance of speaking to a teller or the clarity gained from an in-person consultation, there are services that digital platforms simply can’t replicate. Affinity has taken steps to address this gap. Our branches and call center teams are trained to assist members who may feel overwhelmed by technology. A retiree recently shared how a branch visit helped them understand online banking — a solution that combined the ease of digital tools with the guidance of a trusted professional.
Digital banking plus a personal touch
We’ve developed a hybrid model that combines the efficiency of digital banking with the personal touch of branch services. This approach ensures members can choose what works best for them. Our branches continue to offer essential services like financial planning consultations and assistance with complex transactions, while our digital platforms cater to routine needs. We’ve also prioritized education to build confidence among members. Whether through one-on-one guidance at branches or virtual resources, our goal is to make digital banking accessible to everyone.
As digital banking evolves, financial institutions must adapt. While artificial intelligence, biometric authentication, and open banking are shaping the future, the human element must remain central.
For consumers, the best approach is to embrace a mix of digital and traditional services. If you prefer face-to-face interactions, don’t hesitate to visit your local branch for support.
For those venturing into digital banking for the first time, start with simple tasks and gradually explore more features. And always prioritize security by using strong passwords, enabling two-factor authentication and staying vigilant against scams.
Related Content
-
Which Generation Pays the Most Taxes in the US?Tax Burden Polls show that most people feel like taxes are unfair. But which age group bears the brunt of the tax burden in the United States?
-
How Much Will Car Prices Go Up With Tariffs?Tariffs could drive car prices up even higher, for new and used cars, as well as for American brands.
-
How Much Will Car Prices Go Up With Tariffs?
Tariffs could drive car prices up even higher, for new and used cars, as well as for American brands.
-
What Is the Buffett Indicator?"It is better to be roughly right than precisely wrong," writes Carveth Read in "Logic: Deductive and Inductive." That's the premise of the Buffett Indicator.
-
Should You Get Earthquake Insurance?Standard home insurance doesn’t cover earthquakes, but paying extra for earthquake insurance isn’t just for Californians.
-
Stock Market Today: Dow Drops 699 Points After Powell SpeechFed Chair Powell warned of a slowing economy and higher inflation but said the central bank isn't ready to cut rates just yet.
-
I Have $20,000 to Invest. What Should I Do?We asked a financial expert to weigh in on where to invest $20,000.
-
How to Protect Your Privacy While Using AIHow to keep your information and finances safe while using AI, including ChatGPT and Perplexity.
-
A QLAC Does So Much More Than Simply Defer TaxesHere are the multiple ways you can use a QLAC, from managing retirement risks to creating income for specific retirement needs and wants.
-
Self-Directed Brokerage Accounts: Retirement's Hidden Gem?SDBAs are often overlooked, but they can offer more flexibility and growth potential inside your 401(k) when actively managed by a professional.
