When your customers receive a banking communication, they want it to be clear, concise, personalized, and visually appealing. Communications with these characteristics reinforce customers' trust in you and contribute to a long, happy relationship.

The insights below come from a Computershare survey of 500 US banking customers and their attitudes to the communications they receive from their banking provider.

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What customers look for in banking communications

There are certain characteristics banking customers value in their communications:

› Accuracy

› Easy to understand

› Clear instructions on next steps

› Conciseness

› Personalized

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Unclear customer communications cost you money

The clarity of communications from financial institutions holds considerable weight and shouldn't be underestimated. In fact, it's one of the most important factors to consider.

Actions taken by customers when the receive an unclear message:

3838%

Call my bank

1313%

Visit a branch

1313%

Live chat

1212%

Search their website

Consumer behavior regarding unclear communications

When banking customers receive unclear communications, their most common reactions are confusion and frustration. In fact, 37% say they would consider switching providers — though Boomers are less likely to switch than other generations.

Likelihood of switching

Gen Z - 38%

Millennials - 44%

Gen X - 35%

Boomers - 29%

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The importance of clear communications

Clear communications, on the other hand, build trust. Nearly two-thirds (61%) of customers said clear communications make them trust their banking provider much more.

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