Why Financial Services Need Global Experience to Win in 2022

by Elly Lee
5 Minute Read

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In today’s digital world, building trust is one of the most important ways that companies in the financial industry can win new customers. That said, trust requires brands to connect and communicate in a way that all customers can understand and feel certainty with.

For financial services, a thoughtful Global Experience (GX) strategy is key to personalizing customer experiences, inspiring confidence in your brand, and staying competitive in the fintech marketplace. After all, the most successful global brands are those that take the time and effort to build seamless online experiences for new markets.

Why Your Financial Services Need to be Global

95% of business leaders believe that language of choice is important throughout the customer journey. For both new and existing account holders, localization is critical to building an online experience that global customers feel comfortable managing their money with. Below are three important GX benefits to consider:

  1. Allowing customers to understand banking problems

  2. Creating user-friendly online experiences

  3. Building trust and confidence

Allowing Customers to Understand Banking Problems

Local customers tend to be cautious of opening new accounts with digital banks, especially if the fees or fine print are ambiguous and difficult to understand. Across your website, financial service description, UI, and more, localization improves transparency and allows brands to easily educate customers on how to manage their money with your products and services.

Creating User-Friendly Online Experiences

With 46% of people exclusively using digital channels for financial needs, a localized platform, app, or interface is essential to creating a seamless online experience. Removing language barriers allows customers to easily navigate through their accounts and find important information when and where they need it. 

Building Trust and Confidence

Clear, transparent language signals to customers that you understand them and their needs. When done correctly, GX allows your brand to provide thoughtful resources and content that demonstrate industry leadership and trust. 


How to Take Your Strategies Global

There are a number of ways to take your global customer experience strategies to the next level. Here, we’ll go over a few basic strategies to start with:

  1. Understand target markets and behaviors

  2. Identify what content to localize

  3. Set up your content for success

Understand Target Markets and Behaviors

The first step to targeting new locales is learning the market’s behaviors, preferred technologies, currencies, units of measurement, financial regulations, and more. Take the time to understand local customers and discover what they value when searching for new financial service products and services. 

This is the time to learn what payment methods and technologies local customers are most comfortable with when handling financial transactions and accounts. And while this initial step is important for every company, it is especially so for financial service companies.

Identify What Content to Localize

Depending on where they are along the customer journey, customers often engage with different types of content. For example, if a customer is just learning about your company and how it differs from other fintech services, they’ll be likely to visit your website, read blog posts, and follow social media. On the other hand, an existing customer will be reading product newsletters, engaging with support centers, and spending time in the platform interface.

And while the most effective global experiences consider content from the entire end-to-end customer journey, it is important to acknowledge that each brand may have different content priorities when starting out.

Set Your Content Up for Success

Rethinking your go-to-market strategy to include localization as a strategic part of the process earlier on helps create a scalable and time-saving workflow for the future. One way to implement this is by creating a global experience resource center for any and all teams involved in content creation (i.e product, marketing, engineering, design, legal, etc.). You can take it a step further by creating a global SEO glossary or style guide to improve search rankings and brand alignment across markets.

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An engaging global experience strategy not only enhances, but also humanizes your brand to international customers. Ready to elevate your brand with an engaging global experience strategy? Reach out to Lilt for a personalized consultation.