In an era defined by real-time expectations and digital-first behavior, Nigerian banks are under pressure to deliver consistent, cross-channel customer experiences. Yet, many BFSI institutions still operate in silos—resulting in service gaps, reduced loyalty, and lost revenue. A unified omnichannel strategy is no longer optional; it is a strategic imperative.
The Omnichannel Gap: The Reality for Nigerian Banks According to a recent PwC survey:
- 76% of banking customers struggle with disconnected service across channels.
- 73% would consider switching providers for better cross-channel integration.
Despite widespread investment in digital platforms, many banks fail to deliver continuity between mobile apps, branches, call centers, and web portals. This inconsistency frustrates users and weakens trust in the institution’s ability to serve effectively.
Business Impact of Disjointed Journeys
- Reduced Customer Retention: Banks with strong omnichannel engagement retain up to 89% more customers (Aberdeen Group). In contrast, those operating in silos face churn from inconsistent experiences.
- Operational Inefficiency: Fragmented systems cause data duplication, manual interventions, and higher service costs—undermining scalability and agility.
- Missed Revenue Opportunities: Omnichannel banks drive 33% higher average customer spend (McKinsey). Disconnected journeys, however, limit cross-sell and upsell effectiveness.
Key Recommendations
- Synchronize Channels in Real Time: Ensure seamless transitions between online and offline touchpoints.
- Leverage AI for Personalization: Use customer data to anticipate needs and tailor services across the journey.
- Adopt Modular, Scalable Infrastructure: Implement modern platforms that unify legacy systems without costly replacements.
Conclusion The Nigerian BFSI sector is at a crossroads. As digital channels grow in dominance, the institutions that win will be those that deliver continuity—not just availability. A robust omnichannel approach is central to building trust, efficiency, and long-term loyalty.
Visit www.cubicsystems.com or reach us at info@cubicsystems.com to get started.