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Data Snack: Empathetic banks grew revenue faster than non-empathetic banks

  • A new survey explores how banks deliver empathetic experiences in a digital world.
  • 72% of banks expect interactions through human chat to increase in the next few years.
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Data Snack: Empathetic banks grew revenue faster than non-empathetic banks

Even though parts of the world are beginning to open up, banks will continue to deal with customers under personal and financial stress. Banks hope to support their customers by being more attentive, reassuring and helpful across their digital services.

Banks that understood and responded to their customers’ emotions in their customer care channels outperformed their peers financially by achieving an average revenue growth of 1.3% during 2020. Interestingly, banks that did not lead with empathy experienced a revenue loss of 0.6% on average.

Even though parts of the world are beginning to open up, banks will continue to deal with customers under personal and financial stress. Banks hope to support their customers by being more attentive, reassuring and helpful across their digital services.

Banks that understood and responded to their customers’ emotions in their customer care channels outperformed their peers financially by achieving an average revenue growth of 1.3% during 2020. Interestingly, banks that did not lead with empathy experienced a revenue loss of 0.6% on average.

Accenture’s recent Banking on Empathy report explores the way banks are incorporating empathy in a digital world.

 


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