Technology has revolutionised almost every aspect of our lives, including the way we conduct our banking transactions. Federal Bank customers now have the option to conduct most of their banking transactions on the app. Although mobile banking offers many advantages, some customers still prefer human interaction for certain banking transactions. 

In today's digital age, where banking transactions can be conducted with a few taps on a screen, Federal Bank is taking a refreshing approach. The bank is doing this by emphasising the importance of human interactions in financial services through its innovative Rishta campaign. The Rishta initiative signifies Federal Bank's commitment to building strong relationships with its customers and providing personalised services that go beyond conventional banking.

Reasons to Prefer Humans Over Apps

A lot of banking customers still prefer human interaction over an app. Here are the top five reasons why:

1.    Personal Touch
One of the primary reasons why customers prefer human interaction over an app is the personal touch that a human can offer. A more personalised experience makes a difference to establish long standing bonds of trust. Customers feel reassured when they discuss their financial situation, ask questions and receive tailored advice. Whereas, an app can only provide generic information, which can make a customer feel disconnected.

Suppose you visit our bank for a loan to start a small business. Instead of simply offering you a standard loan package, our staff will take out time to understand your goals and ask you questions about your business plan and financial situation, before sharing personalised advice.

2.    Complex Transactions
Apps are easy to perform basic transactions such as checking balances and transferring funds. However, the benefits can be limited when it comes to more complex transactions. Transactions such as opening a new account, applying for a loan or resolving a disputed transaction require the assistance of a human. Customers may prefer to have a human help them understand every step of the process.

For instance, if you want to invest in a complex financial product, our staff will explain the product to you in detail, walk you through risks and rewards, and provide recommendations accordingly. Our staff will also help you navigate any paperwork or legal requirements and provide ongoing support and guidance whenever needed.

3.    Customer Service
When it comes to customer service, human interaction is often preferred over an app. A customer, who is facing an issue with their account, may prefer to speak to a bank representative to resolve the issue quickly and efficiently. Unlike an app, human interactions provide warmth, reassurance and empathy, which helps to ease tensions, particularly under stressful situations. 

An app, on the other hand, can only provide automated responses, which may leave the customer feeling frustrated, helpless or dissatisfied at times. 
Take the example of a situation where you notice an unauthorised transaction on your account. You can instantly call our staff to report the issue. Our staff will promptly investigate it, recommend the next steps, and ensure that your account is secure.

4.    Trust 
Banking is a highly sensitive and competitive segment, where trust plays a critical factor. Every customer needs to trust their bank as it is where they share their personal and financial information. For some customers, trusting an app with their sensitive information may be a challenge. They may feel more comfortable and secure sharing their information with a representative of the bank directly, who they would perceive as being more trustworthy and capable of handling their information with care and sensitivity.

At Federal Bank, every visit is an invitation to establish trust and positive engagement with our staff. For any requirement you have, our staff is there to recommend financial products and services that are tailored to your individual needs and goals. 

5.    Accessibility
While apps have made banking more convenient for many people, they may not be accessible to all customers. Some customers may have disabilities that require assistance from a human. Other customers may not have access to smartphones. For such customers, human interaction is essential for conducting their banking transactions.

For instance, our bank offers multiple channels for you to get in touch with our staff easily, such as phone, email, or live chat and visit them at the bank. You can walk in any time during our hours of operation and meet our staff.

Explaining the Rishta Campaign

Federal Bank's Rishta campaign centres around the belief that banking is not just about financial transactions; it is about understanding the unique needs, aspirations, and challenges of each individual. The bank recognises that behind every account number, there is a person with their own life story and dreams. By focusing on human connection, Federal Bank aims to create a bond of trust, reliability, and empathy with its customers.

One of the key aspects of the Rishta drive is the emphasis on personalised services. Federal Bank understands that every customer is different, with their own set of requirements and expectations. Through the campaign, the bank aims to deliver tailored solutions and go the extra mile to meet the specific needs of each customer.

Whether it is assisting with financial planning, providing guidance on investments, or offering support during challenging times, Federal Bank is committed to being more than just a financial institution for its clients.

Federal Bank's Focus on the Human Connect

Here are three ways Federal Bank is strengthening its relationship with its valued customers:

1. Relationship managers: The Rishta campaign highlights the role of Federal Bank's dedicated relationship managers, who serve as trusted advisors to customers. Relationship managers act as a bridge between clients and the bank, offering personalised assistance and guidance. They are equipped with in-depth knowledge of the bank's products and services, allowing them to provide valuable insights and recommendations based on the specific financial goals and situations of the customers.

2. Prompt assistance: Federal Bank's focus on human interaction extends beyond its branches. The bank recognises the importance of being accessible to customers and has implemented various channels for communication. Whether it is through phone banking, email support, or online chat, Federal Bank ensures that customers can reach out and receive prompt assistance whenever needed. This commitment to open lines of communication enables customers to have a seamless banking experience and reinforces the bank's dedication to personalised services.

3. Culture of empathy: Furthermore, the Rishta drive highlights Federal Bank's efforts to foster a culture of care and empathy within the organisation. The bank believes that happy employees lead to happy customers, so it prioritises the wellbeing and professional growth of its workforce. By nurturing a positive work environment, Federal Bank empowers its employees to deliver exceptional services and build meaningful relationships with customers.

The Outlook

The Rishta campaign has garnered positive feedback and appreciation from customers who value Federal Bank's focus on the human element in financial services. The initiative has resonated with individuals who seek a banking partner that understands their unique circumstances and provides the necessary support and guidance.

As Federal Bank continues to evolve in the digital age, it remains committed to preserving the importance of human interactions in banking. The Rishta drive serves as a reminder that technology may enhance convenience, but the human touch is irreplaceable.

By combining the benefits of technology with personalised service, Federal Bank aims to provide a banking experience that is both efficient and meaningful. Experience the human touch in banking with Federal Bank today. Learn more about the bank's personalised services and customer-centric approach here .

Many customers prefer the personal touch, tailored advice, and reassurance that a human can offer. Human interaction may be necessary for more complex transactions, resolving issues, building trust and ensuring accessibility for all customers. Simply put, Federal Bank strives to strike a balance between digital innovation and human interaction, ensuring that we meet the diverse needs of our customers.