Excellent customer experience is the key to success in any industry, and banking is no exception. Studies have shown that customers who enjoy positive interactions with their bank across different platforms and communication channels are more likely to become loyal advocates. 

Unfortunately, there are still many unresolved issues with in customer experience in banking India. Here are some emerging trends in banking experience that you should definitely consider for your own financial institution in the next few years.

Current Issues With Customer Experience In Banking In India

There is a growing desire for more human connections (Image source: Rawpixel via Smart Architects). 

Frustrating Online Experience

nationwide study conducted by Terragni last year reported that Indian customers often face heightened stress during their digital interactions. This leads to frustration and, in some cases, abandoning transactions. 

Furthermore, a closer look into the banking sector revealed that more than 50% of clients and customers have to make multiple attempts to complete digital tasks. Unsurprisingly, it results in less and less patience with online banking processes!

These findings underscore the important role of a well-defined customer journey. Every touchpoint must be considered a part of the bigger picture, whether through mobile apps, ATMs, or physical branches. 

Lack Of Human Touch

Quite interestingly, the same study also highlighted a big shift in consumer preferences. While digital interactions were favoured in previous years, there is now a growing desire for more human connections.

Online transactions often lack the personal touch of a real person who can provide clear guidance on specific needs or errors when filling out forms. Elderly customers also struggle with digital technologies and lack easy Internet access more often than not, posing more challenges for many banks in India. 


Security always remains a huge concern, especially regarding banking experience or financial matters. Thus, some customers are discouraged from any banking activity that might compromise their money. The absence of a uniform cybersecurity law in India only exacerbates these concerns. 

1. Better Mobile and Online Customer Service

Empowering customers to solve issues on their own is a win-win situation for everyone. That's why many established banks have started to offer more self-service options within their mobile apps and online platforms, including resetting passwords, managing accounts, scheduling appointments, and more. 

From our observation, artificial intelligence (AI) is playing a growing role in banking experience. AI-powered chatbots can handle routine inquiries and answer frequently asked questions (FAQs); some even guide customers through complex processes! 

2. Automated Onboarding

Gone are the days of lengthy paper applications or waiting weeks for approval. Automated onboarding utilises modern tech to create a frictionless experience, allowing customers to submit applications, upload documents, or verify their identity electronically.

The key advantage is speed; approval times can be significantly reduced and sometimes happen within minutes! 

This competitive edge caters to a large customer base that values convenience — they can open a new account while waiting for their coffee, for instance. Plus, automation also reduces the risk of errors that often creep in with manual data entry. 

3. Human Touch Is Still Important

Given all the thriving digital advancements, many assume the human touch is fading in banking. But in 2024, it's more about finding the right balance! 

Not every banking need is straightforward. Customers prefer personalised reassurance when faced with complex financial matters like loans, investments, fraud resolution, etc. 

Here's where a skilled banker steps in to explain the situations, answer questions, and navigate customers through the process with genuine empathy that you can never find in the most advanced chatbots. 

At the end of the day, finances are personal. People value the connections and rapport they build with human agents, which fosters a sense of security that encourages them to discuss their goals and anxieties more openly. 

Needless to say, this long-term trust will benefit the bank itself in the long run. 

4. Embedded Banking

Customers don't have to switch between multiple apps (Image source: Wiki). 

Imagine booking a ride and having the option to pay immediately within the ride-hailing app itself — that's the power of embedded banking!

Many banks have recently partnered with non-financial companies to integrate financial services directly into their platforms. Simply put, people can access banking tools like payments, loans, or even simple saving accounts while still staying on the app they're already using. 

Financial tasks have now become an extension of the daily routine, and customers don't have to switch between multiple apps or visit a bank branch. This ultimate convenience is more than convincing if you want to retain current customers; they will definitely return for more.

Nevertheless, security must remain your top concern. Regulations are still being developed to protect customer data and safely handle financial transactions within these ecosystems. 

5. Transparency In Data Usage

Today, customers are increasingly aware of the vast amount of data banks collect about them. They want to understand how this data is used, for what purposes, and with whom it's shared; a lack of transparency can erode trust beyond repair.

Thus, banks should provide clear and concise explanations of their data usage to address all the above questions. 

Also, remember that transparency goes hand in hand with giving customers control over their data. That's why some banks allow their customers to choose what information is collected and opt out of certain data uses. Under certain circumstances, they can even request their data be deleted. 

6. Live Support

Live support isn't just about phone calls anymore. In 2024, banks will offer multiple options for live assistance, including secure chat functionalities within mobile apps, video conferencing options (for a face-to-face experience), and even social media interactions for basic inquiries.

Remember, successful live support doesn't focus solely on answering questions; it must resolve issues efficiently. Hence, banks invest a lot of money in training their agents to be problem solvers, with access to the best resources to address concerns thoroughly on the first contact.

7. Omnichannel Approach

Here's a classic example. A customer starts researching a new investment on their phone's banking app, then switches to their laptop to fill out an application, and finally heads to a branch to finalise things with a banker who already has all their information ready.

That's the magic of omnichannel banking. Customers should be able to effortlessly switch between mobile apps, websites, social media, phone calls, and even physical branches without encountering roadblocks or repeating information over and over.

StringeeX offers the best omnichannel experience (Image source: StringeeX). 

The foundation of omnichannel approaches lies in strong integration behind the scenes; many banks are investing in technology that connects all their customer touchpoints. 

One example is the StringeeX virtual call centre, which lets businesses monitor and contact customers across all communication channels using the same interface. This design ensures data flows smoothly and customer information/history is readily available, no matter how the customer reaches out to them.

8. Conversational Experiences

With the rise of voice assistants and chatbots, people have started to long for two-way dialogues (instead of one-way information dumps) in their banking experience. For instance, rather than sifting through endless budgeting resources on a bank website, customers can just ask their phone, "What can I do to save more money?" 

These conversational interfaces may go beyond simple responses, too. Bank apps can be designed to prompt users to set up a saving goal (based on their recent spending habits) or remind them about an upcoming bill payment.

4 Case Studies Of Excellent Customer Experience In Banking In India


HDFC joined forces with over 500,000 agents across the country to extend its banking services to unbanked and underserved communities. To ensure customers do not have to travel long to distant branches, some of its initiatives include:

  • Enlisting the help of local influencers who could communicate effectively in customers’ regional languages
  • Providing access to over 45 banking services and products
  • Implementing digital solutions to speed up the credit approval processes

State Bank of India

SBI has upgraded its contact centre (Image source: Flickr). 

SBI has upgraded its contact centre to offer a more customer-focused experience. 

The centre now provides more than 30 banking solutions in 12 different languages, accessible 24/7 from the comfort of your own home. To further simplify the processes, SBI has also introduced new toll-free 4-digit numbers (1800-2100 or 1800-1234).

Axis Bank

To save costs and deliver better customer service, Axis has introduced over 1,000 automatic processes. 

They reduce manual tasks and speed up service deliveries without sacrificing the human touch. Also, the bank has started monitoring essential business applications using APM (application performance monitoring) to track important metrics and rectify mistakes, if any. 


ICICI Bank replaced its system with a more comprehensive solution to manage interaction across numerous channels. 

With this unified reporting and routing platform, customer information from every channel is now gathered into a single omnichannel desktop. Agents can also get a complete overview of each client's past interactions with ICICI. 


Investing in customer experience in banking is never a waste of resources, especially given the ever-changing landscape. Keep in mind our suggestions and case studies, and feel free to contact us if you need assistance.