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Why is Omnichannel Listening Important in Finance?

Date
June 26, 2025
Read Time
4-5 minutes
Category
Best Practices

Listening to what your customers have to say - whether via online reviews or customer feedback surveys - is critical to improving the customer experience. But is it more important in the finance industry? Recent discussions in the industry have highlighted how it can be a challenge to build empathy with customers in an industry that is traditionally known for putting more focus on the numbers - and omnichannel listening is an important piece of the puzzle. Banks, credit unions, and financial institutions that want to upgrade the employee experience may be asking - why is omnichannel listening important in finance?

Top 4 Reasons Why Omnichannel Listening is Important in Finance

Omnichannel listening is the process of collecting and analyzing customer feedback and interactions from every available channel – whether that be in person, phone calls, emails, social media, online chat, or mobile app interactions. It is about creating a full and complete narrative of the customer journey, rather than just examining key fragments.

This approach is valuable in banking because financial decisions are personally important, and clients expect financial advisors to truly understand their needs and concerns. Real-time statistics can vary, but data by the Aberdeen Group indicates that businesses that implement strong omnichannel strategies typically see 9.5% greater year-over-year revenue growth and 7.5% greater year-over-year decrease in cost per contact compared to those with weaker omnichannel strategies.

1. Ability to Meet Changing Customer Expectations

Modern finance customers expect consistency across all channels, from digital interactions to in-person appointments. Omnichannel listening allows financial institutions to adapt quickly to the changing preferences and expectations, ensuring that services and communications are always valuable and accessible, enhancing the overall customer experience. This responsiveness builds confidence and demonstrates a commitment to client needs.

2. Personalization of the Customer Experience

Financial advice is personal, and clients value guidance tailored to their own personal goals and concerns. Omnichannel listening provides deeper insights to help personalize interactions, anticipate customer needs, and provide relevant solutions across multiple platforms, which strengthens client relationships and builds a foundation of trust in the end. This personalized approach makes clients feel understood and valued.

3. Improves Regulatory Compliance

In a highly-regulated industry like finance, comprehensive record-keeping and clear communication are critical. Omnichannel listening helps financial institutions maintain a complete audit trail of all customer interactions, improve transparency and aid in compliance with industry regulations. By tracking and managing client communications via a central platform, institutions can better monitor feedback and identify potential issues, which reduces compliance risks.

4. Creates a More Proactive Customer Experience

By monitoring customer feedback and interactions across all channels, financial advisors can proactively identify emerging trends, potential issues, or client concerns before they escalate. This more proactive approach allows for timely interventions, personalized outreach, and the ability to anticipate customer needs, leading to a more complete and effective customer journey.

READ MORE: How To Grow Your Customer Base with Customer Experience Management

Implementing omnichannel listening in finance is more than just a trend. It's a fundamental shift that gives financial institutions the ability to truly connect with their clients, meet evolving expectations, and build lasting trust.

Contact boostCX for a demo of our customer experience management platform today!

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