It’s no secret that the world has gone digital. So much of everything we do every day happens online with the mobile devices that appear to be attached to our attachments. Mobile and desktop apps and online portals have changed the way we manage our lives, including our finances.
As the millennial generation is now the largest single population in the workforce, the majority of donors and financial decision-makers will soon be digital natives. They grew up in the smartphone age and expect to be able to do almost anything digitally, including banking.
According to a recent report69% of millennials use their laptops or PCs at least once a week to access bank accounts, 92% do the same with their smartphones, and more than half do banking with their mobile devices more than five times a week.
Interestingly, Gen X is ahead of the millennial generation in laptop banking (82% at least once a week) and not far behind in terms of smartphones (83% at least once a week and 47% more than five times).
Milford Bank has always been proud of the personal service we provide and the community and human connections we can build. Although national bank brands appear to have an advantage in digital banking, we are happy to have the opportunity to build on our relationships with our customers by offering a variety of digital products and services that are right for that Tailored the needs and wishes of our customers. Some of the advantages of this digital shift are:
Expanded customer base – With digital banking we can expand our customer base. Since most customers do not have to visit the branches very often, the offering of digital banking products can present our brand to new customers. Customers can do most of their banking with digital tools and are a reasonable distance from a branch to access when needed.
Quality customer experience – Milford Bank prides itself on providing excellent customer service. Even if it appears that digital banking could distract from this experience, it is actually the opposite. As customers expect to be able to do their banking online, it is part of a great experience to provide them with the tools.
Improved customer loyalty – Digital tools offer opportunities for improved loyalty between Milford Bank and its customers. This means that we can now offer our customers more options to let them know about the tools available for their banking needs – especially new tools like partnering with P2P payment networks – and the flexibility of combining local and to highlight digital banking offers.
Constant availability – One of the great advantages of digital banking is availability around the clock. While the offices are closed on public holidays, the Internet remains open for business. This means you can access your accounts, pay bills, and send money to your kids in college anytime, anywhere.
The bottom line is that banking is digitizing, and it is important that Milford Bank provide its clients with a variety of tools to help them do their banking. With banking competition online, Milford Bank appreciates the ability to combine a customer’s personalized experience when visiting one of our offices with the ease and convenience of our digital product offerings. Customers feel important and it is important to us to offer high quality products and services, whether in person or online.
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