‘It’s difficult for a smaller, local bank to compete against the mega banks’: Inside Trustco Bank’s evolving digital experience
- New York’s Trustco Bank recently implemented a digital banking platform to improve customer user experiences.
- The local bank has witnessed over a 50 percent increase in mobile deposits.
Sometimes, digital transformation programs work as planned, as evidenced by Trustco Bank’s recent surge in app store ratings. The company went from 2.7 stars to 4.5 stars out of 5 for its iOS app after upgrading its tech.
“Prior to implementation, our iOS application had a stagnant rating of 2.7 stars in the application store,” said J.R. George, Trustco Bank’s administrative vice president. “The enhanced application currently has a rating of 4.5 out of 5 stars and is still trending upward.”
New York-based Trustco Bank, which reported $5.2 billion in assets in 2019 and has 148 branches, has observed higher levels of digital adoption and customer interactions since recently implementing a digital banking platform that includes online account opening, digital payments, lending and customer servicing.
The bank has seen a 10 percent increase in users on its mobile app over 5 months of implementation and its mobile deposit use has increased over 50 percent.
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