You might not think of retail as a source of inspiration for financial services — but you should. Retailers know how to deliver the kind of personalized, seamless experiences today’s customers expect from every brand — including yours.
At your bank or credit union, that might look like smart product recommendations from an engaged teller, the ability to set up an account online before visiting a branch, or a well-timed loan offer triggered by a life event.
It’s not just about convenience, it’s about delivering the kind of smart, omnichannel experience people have come to expect.
Retail also shows the impact of well-timed tech — think self-service tools that reduce wait times, or pairing automation with human expertise when it matters most.
The bottom line: Banking can learn a lot from the retail playbook.
Use data like a retailer
Retailers don’t just collect data — they act on it. Every interaction, click, and purchase helps them fine-tune the customer experience, whether that’s suggesting the right item at the right time or smoothing out the buying journey. Financial institutions have the same opportunity and just as much to gain.
Start by using customer data to offer truly tailored product recommendations. If someone’s saving consistently, maybe it’s time to surface a high-yield account. If they’re making regular tuition payments, a message about education financing might be useful.
Behavior tracking in your mobile app or online banking portal can uncover key moments — like a drop in direct deposits, a spike in spending, or even travel patterns — all of which can trigger helpful, relevant insights or offers.
It’s a shift from reacting to requests to anticipating needs — and from being a service provider to becoming a trusted financial partner.
The more seamlessly you use data to connect the dots, the more your customers will feel seen, understood, and supported — just like they do with their favorite retailers.
Here’s what that might look like in action:
- Use transaction history and financial goals to surface products that fit
- Spot signals like frequent childcare expenses or travel bookings to prompt timely conversations
- Notify customers when their balance dips, spending shifts, or opportunities arise to save or invest
- Tailor content and offers across channels — in person and online — based on real behaviors, not just demographics
Create a seamless omnichannel experience
Your customers expect things to work. Whether they’re on your app, browsing your website, or walking into a branch, the experience should feel connected and effortless.
Here’s some ways to achieve omnichannel banking in your financial institution:
- Let customers pick up where they left off (for example, starting an application in one channel, finishing it in another) without repeating steps.
- Keep your brand and messaging consistent, whether it’s through your mobile app, website, or in-branch signage .
- Break down internal silos by equipping customer service teams with tools and data that show the full context of a customer’s journey, so no one has to start from scratch.
- Make sure core actions, such as account management, scheduling, or document uploads, work just as well on mobile as they do in person.
Every channel needs to speak the same language and share the same information so customers feel understood and in control — and that’s what builds long-term trust.
Infuse technology with a human touch
Banking technology shouldn’t replace people, it should empower them. The right tools can take the friction out of everyday tasks and free your team to focus on building strong and personal relationships that provide meaningful insight into customer needs.
Think self-service kiosks for quick check-ins or simple transactions. AI chatbots for fast answers to common questions. Smart automations that guide customers through routine steps — while always keeping the door open for a real conversation when it counts, and when your financial experts have valuable insights to offer.
Here’s how to strike the right balance:
- Use kiosks to streamline: Let customers check in, schedule appointments, or complete quick tasks on their own terms.
- Deploy AI for the routine stuff: Chatbots and virtual assistants can handle FAQs, check balances, or route people to the right place quickly and efficiently.
- Make real help accessible: Make it simple for customers to connect with a live rep when they need more support.
- Free your team to go deeper: When automation takes care of the basics, your staff can focus on the meaningful conversations that drive trust, loyalty, and important financial services.
Design the customer journey
Retailers don’t just sell products, they build experiences that keep people coming back. They think in terms of loyalty, lifetime value, and how every touchpoint reflects their brand. Banks and credit unions can take a similar approach by designing customer journeys that feel intentional, intuitive, and supportive at every step.
Instead of focusing solely on selling individual products, shift the mindset toward building long-term relationships. That starts with understanding your customers’ bigger goals — and designing experiences around important stages of life, such as:
- Buying a first home: Make the mortgage process approachable and guide them from pre-approval to move-in day with confidence. Celebrate this milestone with thoughtful touches — like personalized congratulations, welcome gifts, or promotional offers — that turn the process into an experience they’ll remember.
- Starting a business: Help them choose the right accounts, access credit, and build a financial foundation.
- Saving for college or retirement: Offer resources, calculators, and a clear path toward financial planning.
This kind of journey mapping helps customers feel understood and supported — not sold to. It also gives your teams a framework to follow, so they’re not just offering services, but acting as true financial advisors.
Train staff to recognize these moments and respond with empathy and insight. The more you align your strategy to life’s big milestones, the more your customers will see you as a long-term partner — not just a place to keep their money.
Learn from store layouts
In retail, the way a space is laid out — from the flow of foot traffic to lighting and signage — shapes how people feel and what they do next. Financial institutions should be applying the same thinking to branch design.
Through a retail lens, your financial institution should focus on creating spaces that feel warm and modern, not cold and transactional. That could mean softer lighting, warmer tones, and clearer signage. But it’s not just about how things look, it’s about functionality.
Some functional additions could include:
- Adding digital touchpoints: Think interactive displays that explain products in plain language, self-service stations for quick tasks, or tablets customers can use to explore options while they wait.
- Creating “zoned” experiences: Offer open areas for fast transactions and digital banking support, while carving out private, quiet spaces for deeper financial conversations. The goal is to give every customer the right environment based on their needs — whether they’re dropping in to deposit a check or sitting down to talk about a mortgage.
- Rethinking the flow: Make it easy for customers to navigate the space without feeling overwhelmed. Clear pathways, thoughtful signage, and logical placement of services to help reduce confusion and make the experience feel effortless.
Designing with intention is the goal. When people walk into a branch that feels tailored to their experience, they’re more likely to feel comfortable, confident, and connected to the brand.
Keep innovation at top of mind
Encourage a culture of experimentation — one where piloting new ideas isn’t the exception, but the norm. That might mean testing a new appointment booking tool to reduce wait times, rolling out an updated flow to the space, or refreshing the in-branch experience to better reflect what customers expect today.
The key is to start small and learn along the way. Create lightweight pilots that let you test ideas without overcommitting. Gather real feedback early — from staff and customers — and use those insights to iterate quickly. Not every idea will stick, and that’s okay. What matters is adapting and improving with every iteration.
Retail has shown us what’s possible when customer experience comes first. From using data more strategically to designing seamless journeys, blending tech with a human touch, and rethinking physical spaces — there’s a lot financial institutions can borrow from retail.
It all starts with a shift in mindset. Ready to create a high-performing team that’s built for what’s next? Reach out to Element today.
