The banking industry is very competitive, with numerous options available for customers. Plus, since anything money-related requires careful consideration, people can be extremely selective. The only way to succeed is to plan a detailed customer journey map in banking; there's no other shortcut! 

Let us walk you through the process of building one.

Why A Customer Journey Map In Baking Is Important

Planning out their journey maps allows you to tailor your products and services better to those varying needs (Image source: Picryl). 

To Understand Customers' Point Of View

A thorough customer journey map lets you see everything more clearly from the customer's perspective. We are talking about all the identified touchpoints, from opening an account and using the mobile app to dealing with customer service. 

Their frustration or obstacles when interacting with your business are also properly addressed. Once you fully grasp their thoughts and feelings at each stage, it will be much easier to identify areas for improvement and create a more positive experience!

Also, remember that different demographics have different stages of financial life: a young customer might be interested in a budgeting app, while older ones are likely looking for wealth management advice. Planning out their journey maps allows you to tailor your products and services better to those varying needs.

To Not Miss Out On Golden Opportunities

Thanks to customer journey maps, many enterprises recognise moments when customers might be more receptive to additional products or services. 

For example, a customer opening a new checking account might also be interested in a savings or credit card. These golden opportunities can increase the business' revenue potential tenfold! 

Some renowned institutions and banks take it one step further and anticipate customer needs long before they arise (e.g., a customer approaching retirement will likely seek investment advice in one or two years). 

As a result, they can proactively reach out to these customers with excellent services, which fosters stronger relationships and further positions themselves as trusted advisors. 

That's not all. The map also paves the way for identifying new customer segments! 

A closer look into the mapping process might reveal unmet needs your bank has not yet catered to. Any business that knows how to seize an entirely new market opportunity will definitely last longer than other competitors in the race.

To Save Cost

When all bottlenecks in customer service workflows are identified (e.g., long wait times, repetitive inquiries, etc.), you can redesign these processes to smooth and speed up operations. Needless to say, fewer agents and less wasted time always translate to significant cost savings.

The same applies to self-service tools like online bill pay or mobile banking. 

A journey map helps address related pain points faster and makes them more user-friendly. The result: customers feel more encouraged to adopt these tools and handle simple issues by themselves, further reducing their reliance on call centres and branch visits. Your business can easily save thousands of dollars just from that alone!

Not to mention, now that you already have reliable insights into customer behaviours, every marketing campaign will reach the right audience with the right message. There will be no more wasted spending on irrelevant resources, and you can maximise the return on your investment, too!

What Are The Main Steps Of A Customer Journey Map In Banking?

Step 1. Define Your Customer Segments

Segmenting your customers is a must (Source: Needpix). 

Not all customers share the same preferences or interests. Even their preferred ways of interacting with your business are far from similar!

Hence, segmenting your customers is a must to personalise their journey better. You should consider their demographics (age, income, location, occupation), financial needs (saving for a home, managing businesses, retiring), and banking habits (in-person, online, mobile).

Some common customer segments: 

  • Young professionals
  • Families
  • Small business owners
  • High-net-worth individuals
  • Retirees

Step 2. Identify All Key Touchpoints

All the key touchpoints (customer interactions with your bank) shape the entire journey. You will better understand how they move from one point to another. 

Remember to list all interactions in your mapping -  from the moment they become aware of your bank to using your services (and even when they potentially leave for another bank). Document everything! 

Consider all channels involved, too, both physical and digital. StringeeX, an omnichannel virtual centre that lets you connect and store customer data across every channel, is the best solution.

Some examples of touchpoints: 

  • Browsing your website for information on loan options (Pre-customer)
  • Opening a new checking account online (Customer acquisition)
  • Calling customer support to resolve an issue
  • Using the mobile app to check account balances or transfer money (or similar ongoing interactions)
  • Closing an account or switching to another bank

Step 3. Gather Customer Feedback

Your focus must always remain on customers' thoughts and emotions at each touchpoint. Only through their feedback can you identify what's working well and where things fall short.

There are numerous ways to gather customer reviews, so choose what works best for your business: 

  • Online or in-branch surveys 
  • In-depth interviews with customers (from different segments)
  • Pay attention to what customers say about your bank on social media. 
  • Observe customers interacting with your website or mobile app to identify usability issues.

Step 4. Identify Both Obstacles and Opportunities

Are there any potential areas to improve customer experience beyond expectations? (Source: Needpix). 

Pinpoint where customers face difficulties (obstacles) and whether there are any potential areas to improve their experience beyond expectations (opportunities). 

Let's say you find that young professionals often struggle to understand complex investment options (obstacles). That presents a perfect opportunity to develop a user-friendly investment guide for your website or offer personalised investment advice consultations (opportunity).

Step 5. Make Necessary Changes Based on Data

After gathering customer feedback, you know what to do next: review the data. Remember to look for common trends and patterns that reveal areas that can improve the experience for most customers.

Focus on the most significant pain points, then develop solutions accordingly (e.g., streamlining online processes, redesigning your mobile app, providing more customer service training, etc.). 

Most importantly, you must always consider the feasibility and potential impact of each change before moving on to the next steps.

Step 6. Keep Monitoring and Adjusting

Customers do not stay the same; their expectations and needs change over time, just like any other market trends. Thus, you should always keep an eye on their journey and adapt the map along the way.

How to do that?

  • Repeating the first 5 steps, including regular feedback collection through surveys, interviews, and social media.
  • Track the effectiveness of all the changes you've implemented. See if they're improving customer satisfaction, loyalty, or key business metrics. If the issue persists, you might have to adjust the system or explore extra solutions.

A Simple Example Of A Customer Journey Map In Banking

Customer Segment

College Students (18-22 years old)


  • Thrive Bank website (account information, online application)
  • Mobile app (account management, budgeting tools)
  • Social media platforms (Thrive Bank accounts)
  • High school career fairs (information booths)
  • College branch representatives (account opening assistance)
  • Customer service hotline (account inquiries, troubleshooting)

Customer Feedback

  • Conduct online surveys with existing student customers to gauge satisfaction with account features and mobile app usability.
  • Interview high school students at career fairs to understand their initial banking needs and preferred account features.

Identifying Opportunities

Many students are confused and overwhelmed by the numerous banking options on social media. 

Your business can develop targeted social media content that resonates with their interests. Also, include educational tutorials and FAQs within the mobile app to guide students on using features effectively.

Making Necessary Changes

  • Based on feedback, create short explainer videos on social media platforms that showcase the benefits of a Thrive Bank student account.
  • Regularly gather feedback from student account holders through surveys and social media interactions to pinpoint emerging needs.


Creating a customer journey map in banking is straightforward, but you must be patient and thorough in your research. 

Also, remember that it's not set in stone; as market trends evolve, so does the journey map. Stay updated and adjust accordingly! Feel free to reach out to us if you need advice.