Building Strong Connections Through Personalized Customer Communication 

Every financial institution strives to build strong relationships with its customers. And the strategy doesn’t have to be complicated! Building solid relationships comes down to four fundamental components: active listening, consistency in customer communications, personalization, and transparency.

The monthly statement is one of the most underutilized forms of communication that can address three of these areas. It’s a direct line of consistent, personalized, and transparent communication with your customers, and more importantly, shows them they’re valued.

Whether it’s a loan or savings account statement, you must send it to your customers, who must review it, but it’s up to you to make it worth their while.

Focus on Personalization to Engage Customers with Statements

In 2024, personalization, a fundamental component of building strong relationships, has become essential in driving customer engagement and experience. However, many banks cannot fully leverage their customer data from core systems to personalize statements, increase e-adoption rates, and uncover up-sell and cross-sell opportunities. 

But the solution to personalized communications is out there. 

Here’s an example of how we help: Doxim is a Jack Henry Vendor Integration Partner (VIP) , and Jack Henry online banking (OLB) platforms include Banno and Netteller. On the lending side, they use platforms such as Alkami, Q2, and Lumin.  

Doxim’s Customer Communication Management (CCM) platform applies key customer data from all these platforms and integrates it into a customized statement template. This not only saves time and resources but also ensures that the statements are highly personalized, leading to increased customer satisfaction and engagement.  

With just a click, Jack Henry users can send statements through the desired channel of the customer’s choice—print, text, email, HTML, or any other format.  

Our expertise and years of experience working with many regulated industries, such as financial services, make our application versatile and easily integrated with any core. Its adaptability to various systems and processes ensures you can build personalized communications that get results. 

Core Migration and Customer Communication Improvements 

You might not know that customer communication improvements, like statements, and core migration go hand in hand.  

Core upgrades present a crucial opportunity. It provides a unique chance to step back, evaluate your statements and notices as key member touchpoints, and confirm your communications vendor is the right one. 

Here’s a mini checklist to consider:  

1. Are you happy with your vendor’s service and ability to meet SLAs?  
2. Is your vendor client-focused and responsive to change requests?  
3. Does your vendor have a strong vision for the future?  
4. Does your vendor’s technology roadmap support the communication channels your members want and expect?  
5. Is your vendor making the right investments to reduce your costs, modernize engagement, and guide you into the future?  
6. Are your member communications integrated into your organization’s overall member experience strategy?  

Answering these questions honestly will help you assess how well your current regulated communications drive engagement and enhance the customer experience for improved customer connections.

Personalized Communications: When Should You Start? 

Now let’s talk about timing. You might wonder if a project like Jack Henry’s will require resources and time, so when should you start?  

It should be as soon as possible.  

Our customers who adopted our customer communication solution experienced an increase in e-adoption rate, a decrease in operational print cost, and an increase in organic customer base growth. 

You have the power to make changes for the better. And your customers would support a positive change, especially after seeing their financial institution make the right decision: to provide personalized communications that meet their needs.

Stay Competitive, Build Solid Communications, Exceed Customer Expectations 

By leveraging modern tools and personalized strategies, financial institutions can significantly enhance customer engagement, satisfaction, and loyalty. Whether through digital transformation or optimizing existing communication channels, delivering clear, personalized, and timely messages is vital to staying competitive.  

With Doxim’s comprehensive solutions, you can ensure that your communications meet regulatory standards and exceed customer expectations, driving growth and success for your institution in the long term.