By the end of 2021, the U.S. banking industry saw closures of over 2700 branches, surpassing the record number of net closures in 2020. With a trend that has only accelerated since the pandemic, banks have been forced online and to consider dramatically transforming their products and services. As rapid innovation transforms other industries, from ride-hailing to fitness trackers, financial services have been under increasing demand to meet new customer expectations and offer a digital native experience. 

In the digital age, the cost of losing an existing customer is now greater than the value of acquiring a new one. It is therefore widely understood that increasing customer lifetime value is critical to the success of an organization. 

Banks now face the challenge of engaging with customers in more meaningful ways in the absence of face-to-face interaction. This requires rethinking some of the fundamentals of digital engagement: do click throughs, portal usage or mobile app downloads truly mean “engagement”? 

Hosted by the Financial Times, in partnership with Relay Network, watch this panel discussion and audience Q&A to find out what industry leaders forecast as the future of engagement.

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