personal loan customer journey map

Loan Customer Journey Mapping: How to Visualize and Improve the Experience of Loan Customers Across Different Touchpoints

1. understanding the importance of loan customer journey mapping, 2. identifying key interaction points in the loan process, 3. gathering insights from customer interactions, 4. visualizing the existing customer experience, 5. highlighting areas for improvement, 6. proposing solutions and innovations, 7. strategies for enhancing customer satisfaction, 8. continuously improving the loan customer journey, 9. leveraging journey mapping to create a seamless experience.

Understanding the Importance of loan Customer Journey mapping

In today's competitive financial landscape, lending institutions face immense pressure to deliver exceptional customer experiences. Whether it's a personal loan, mortgage, or business financing, borrowers expect a seamless and efficient process from application to disbursement. This is where customer journey mapping comes into play.

1. Holistic View of the Borrower's Experience:

- loan customer journey mapping involves visualizing the entire lifecycle of a loan application. It encompasses every touchpoint, from the initial inquiry to loan closure.

- By mapping out this journey, financial institutions gain a holistic view of the borrower's experience. They can identify pain points , bottlenecks, and areas for improvement.

- Example: Imagine a prospective homebuyer navigating through the mortgage application process . The journey includes researching loan options, submitting documents, and waiting for approval. Each step matters, and any friction can lead to customer dissatisfaction.

2. identifying Pain points and Opportunities:

- customer journey maps reveal pain points where borrowers encounter challenges or frustrations. These could be long wait times, confusing forms, or unclear communication.

- Institutions can then address these pain points strategically. For instance:

- streamlining the application process by digitizing forms and automating document verification.

- Providing real-time updates on the loan status via SMS or email.

- Example: A small business owner applying for a working capital loan faces delays due to manual underwriting processes. By mapping the journey, the lender realizes the need for faster approvals and implements an AI-driven credit assessment system.

3. Enhancing Communication and Transparency:

- Borrowers appreciate transparency throughout the loan journey. Clear communication builds trust and reduces anxiety.

- Journey maps highlight communication touchpoints, such as:

- Initial loan offer communication.

- Updates on application status.

- Loan approval and disbursement notifications.

- Example: A student applying for an education loan receives personalized emails at each stage, explaining the process, required documents, and estimated timelines.

4. Optimizing Digital Channels:

- In today's digital age, borrowers interact with financial institutions through websites, mobile apps, and chatbots.

- Journey mapping helps optimize these channels:

- Is the website user-friendly for loan applications?

- Can borrowers easily find FAQs or contact information?

- Are chatbots providing accurate responses?

- Example: A mobile app for personal loans allows users to upload documents directly, reducing the need for physical visits to the branch.

5. measuring Customer Satisfaction and loyalty :

- Journey maps allow institutions to measure customer satisfaction at each touchpoint.

- net Promoter score (NPS) surveys can be strategically placed:

- After loan approval.

- Post-disbursement.

- Example: A car loan borrower receives an NPS survey after picking up their new vehicle. Positive feedback indicates a successful journey.

6. Iterative Improvement:

- Loan customer journey mapping is not a one-time exercise. It's an ongoing process.

- Institutions should regularly review and update the maps based on customer feedback , changing regulations, and technological advancements.

- Example: A bank revisits its journey map annually, incorporating new features like e-signatures and video consultations.

In summary, loan customer journey mapping empowers financial institutions to empathize with borrowers, streamline processes, and create memorable experiences. By understanding the borrower's perspective, lenders can build lasting relationships and drive business growth .

Remember, the journey matters as much as the destination—especially when it comes to loans!

Understanding the Importance of Loan Customer Journey Mapping - Loan Customer Journey Mapping: How to Visualize and Improve the Experience of Loan Customers Across Different Touchpoints

### Understanding Touchpoints: A Multidimensional Perspective

When we talk about touchpoints, it's essential to recognize that they extend beyond mere physical interactions. They encompass various channels, both digital and analog, where borrowers engage with the lending institution. Let's examine these touchpoints from different angles:

1. Application Process :

- The initial touchpoint occurs when a borrower decides to apply for a loan. Whether they visit a bank branch, use an online portal, or call a customer service representative , this moment sets the tone for the entire journey.

- Example: Jane submits an online loan application, providing personal details, income information, and the purpose of the loan.

2. Document Submission :

- Once the application is submitted, borrowers must provide supporting documents (income proof, identification, etc.). This step can be cumbersome and anxiety-inducing.

- Example: John visits the bank to submit his tax returns and employment verification documents.

3. Approval/Rejection Notification :

- Borrowers eagerly await the decision. Receiving an approval or rejection notice is a critical touchpoint.

- Example: Maria receives an email congratulating her on loan approval, along with the terms and conditions.

4. Loan Disbursement :

- The moment funds are transferred to the borrower's account is crucial. It's a tangible outcome of the entire process.

- Example: David celebrates as the loan amount reflects in his account, enabling him to purchase his dream car.

5. Repayment Reminders :

- Regular reminders about upcoming payments help borrowers stay on track.

- Example: Sarah receives SMS notifications a week before her EMI due date, ensuring timely repayments.

6. Customer Service Queries :

- Borrowers may have questions about interest rates, prepayment options, or any other aspect. Responsive customer service is vital.

- Example: Michael calls the helpline to clarify doubts about the loan tenure.

7. Late Payment Alerts :

- When a borrower misses a payment, the lender sends alerts. How these notifications are handled impacts customer satisfaction .

- Example: Alex receives an automated call reminding him of the overdue payment and the associated late fee.

8. Loan Closure :

- The final touchpoint occurs when the borrower repays the entire loan amount. It's an opportunity to leave a positive impression.

- Example: Emily visits the bank to settle her loan early, and the staff congratulates her on successful repayment.

### Conclusion

Defining touchpoints involves understanding the borrower's journey holistically. By optimizing these interactions, lenders can enhance customer experience , build trust, and foster long-term relationships . Remember, each touchpoint contributes to the overall narrative, shaping how borrowers perceive the loan process.

Identifying Key Interaction Points in the Loan Process - Loan Customer Journey Mapping: How to Visualize and Improve the Experience of Loan Customers Across Different Touchpoints

### Understanding Data Collection in Loan Customer Journey Mapping

effective data collection is the bedrock of any successful customer journey mapping initiative. It allows organizations to gain a deeper understanding of their customers' behaviors, preferences, pain points, and expectations. By systematically collecting relevant data, financial institutions can make informed decisions, optimize processes, and ultimately improve customer satisfaction .

#### 1. Multi-Channel Data Aggregation

Loan customer interactions occur through multiple channels: online applications, phone calls, in-person visits, and even chatbots. To comprehensively map the customer journey , organizations must aggregate data from all these touchpoints. Here's how:

- Online Applications : Capture data from loan application forms, including demographic information, loan amount requested, purpose, and employment details.

- Phone Calls : Record call transcripts to understand customer inquiries, concerns, and sentiment.

- In-Person Visits : Collect feedback from face-to-face interactions with loan officers or branch staff.

- Chatbots and Live Chats : Monitor chat logs to identify common queries and pain points.

Example : Suppose a customer initiates an online loan application but abandons it midway. By analyzing the data, the bank discovers that the application form is too lengthy, leading to drop-offs. They decide to streamline the form, resulting in higher completion rates.

#### 2. Sentiment Analysis

Beyond quantitative data, sentiment analysis plays a crucial role . By analyzing customer interactions (such as chat logs, emails, or social media posts), organizations can gauge sentiment—whether customers are satisfied, frustrated, or confused. sentiment analysis tools use natural language processing (NLP) to classify sentiments.

Example : A customer tweets about a frustrating loan approval process . The bank's sentiment analysis tool detects the negative sentiment and triggers an alert to the customer service team for prompt resolution.

#### 3. Behavioral Data

understanding customer behavior during the loan application process is essential. Behavioral data includes:

- Clickstream Data : Analyze website navigation patterns. Which pages do customers visit before applying for a loan?

- Time Spent : How long does a customer spend on each page? Are there bottlenecks?

- Abandonment Rate : Identify where customers drop off in the application process.

Example : By analyzing clickstream data, a bank realizes that customers often abandon the application form at the income verification stage. They introduce a real-time chat feature to assist customers during this critical step, reducing abandonment rates .

#### 4. Feedback Surveys and Post-Interaction Surveys

Direct feedback from customers is invaluable. Organizations can design short surveys to collect insights immediately after interactions. Key survey questions include:

- Ease of Application : How straightforward was the loan application process?

- Communication : Did customers receive timely updates on their application status?

- Overall Satisfaction : How satisfied are customers with the entire journey?

Example : A post-interaction survey reveals that customers appreciate the bank's personalized follow-up emails during the loan approval process. The bank decides to enhance this communication strategy further.

#### 5. Integration with CRM Systems

Integrating journey mapping data with customer Relationship management (CRM) systems ensures a seamless flow of information. CRM systems store historical data, allowing organizations to track customer interactions over time. This integration enables personalized interactions and targeted marketing efforts.

Example : When a customer contacts the bank for a loan modification, the CRM system provides the loan officer with a complete history of the customer's interactions, enabling a more empathetic and efficient resolution.

In summary, data collection in loan customer journey mapping involves a holistic approach, combining quantitative metrics, sentiment analysis, behavioral insights, direct feedback, and CRM integration. By leveraging these insights, organizations can optimize touchpoints, reduce friction, and create a more satisfying loan customer experience .

Remember, the success of journey mapping lies not only in collecting data but also in acting upon it to drive meaningful improvements.

In this section, we delve into the process of mapping the current journey to visualize and improve the experience of loan customers across various touchpoints. By analyzing the customer experience from different perspectives, we gain valuable insights that can drive enhancements in the loan journey.

1. Understanding the Customer's Perspective:

To effectively map the customer journey, it is crucial to consider the customer's viewpoint. By gathering feedback, conducting surveys, and analyzing customer interactions, we gain a comprehensive understanding of their needs, pain points, and expectations throughout the loan process.

2. Identifying Touchpoints:

mapping the customer journey involves identifying the touchpoints where customers interact with the loan process. These touchpoints can include online applications, in-person meetings, phone calls, and email communications. By pinpointing these touchpoints, we can focus on improving specific areas of the customer experience.

3. Analyzing Pain Points:

By examining the customer journey , we can identify pain points that customers encounter during the loan process. These pain points may include complex application forms, lengthy approval times, or unclear communication. By addressing these pain points , we can enhance the overall customer experience and streamline the loan journey.

4. enhancing Communication channels :

Effective communication is vital in the loan customer journey. By providing clear and timely information to customers, we can reduce confusion and build trust. For example, implementing automated updates via SMS or email can keep customers informed about the status of their loan application.

5. Streamlining Application Process:

simplifying the loan application process is key to improving the customer experience. By minimizing paperwork, optimizing online forms, and providing intuitive guidance, we can make the application process more user-friendly and efficient.

6. Personalizing the Experience:

Tailoring the loan experience to individual customers can significantly enhance satisfaction. By leveraging customer data and preferences, we can offer personalized recommendations, customized loan options , and targeted support throughout the journey.

7. Providing Ongoing Support:

The loan journey doesn't end with approval. Offering ongoing support to customers, such as providing access to self-service portals, offering assistance with loan management, and addressing post-loan queries, ensures a positive and long-lasting customer relationship.

By mapping the current journey and implementing improvements based on customer insights, we can create a seamless and satisfying experience for loan customers. This not only enhances customer satisfaction but also contributes to the overall success of the lending institution.

Visualizing the Existing Customer Experience - Loan Customer Journey Mapping: How to Visualize and Improve the Experience of Loan Customers Across Different Touchpoints

### Understanding the Landscape: A Multidimensional View

To effectively identify pain points, we need to consider the loan customer journey from multiple angles. Here are insights from different perspectives:

1. Customer-Centric View:

- Application Process Complexity: customers often find loan application forms confusing or overwhelming. Lengthy forms, unclear instructions, and excessive documentation requirements can deter potential borrowers.

Example : Imagine a small business owner seeking a loan to expand their operations. They encounter a lengthy application form with technical jargon, leading to frustration and potential abandonment.

- Communication Gaps: Poor communication during the loan process can cause anxiety. Lack of updates, unclear timelines, and unresponsive customer service contribute to negative experiences.

Example : A borrower submits their application but receives no confirmation or status updates. They feel left in the dark, wondering if their request is progressing.

- Approval Delays: Lengthy approval processes can be frustrating. Customers expect timely decisions, especially when urgent financial needs arise.

Example : A student applying for an education loan faces delays due to manual verification processes. As a result, they miss the enrollment deadline.

2. Operational View:

- Inefficient Workflow: Internal processes impact customer experience . Bottlenecks, redundant steps, and lack of automation slow down loan processing.

Example : Loan officers manually reviewing documents instead of using automated systems leads to delays and errors.

- Data Silos: Disconnected systems hinder seamless information flow. Loan officers may struggle to access relevant customer data across departments.

Example : A customer calls the bank to inquire about their loan status, but the call center agent lacks real-time access to loan department records.

- Risk Assessment Challenges: Balancing risk and customer satisfaction is crucial. Overly conservative risk assessments can lead to unnecessary rejections, while lax assessments may result in defaults.

Example : A cautious risk model flags a self-employed applicant as high-risk due to irregular income, even though their credit history is strong.

3. Technological View:

- Outdated Systems: Legacy software can hinder efficiency. Slow response times, system crashes, and limited functionality frustrate both customers and employees.

Example : A bank's outdated loan management system crashes during peak hours, causing delays for loan officers and applicants.

- User Experience (UX) Design: Clunky interfaces confuse users. Intuitive design is essential for smooth interactions.

Example : A mobile app for loan tracking lacks clear navigation, making it challenging for customers to find relevant information.

- Security Concerns: balancing convenience and security is critical. Customers expect secure transactions without excessive authentication hurdles.

Example : A two-factor authentication process for every login annoys users, leading them to seek alternative lenders.

### In-Depth Exploration: Key Pain Points

1. Lengthy Approval Timelines:

- Issue : Customers waiting weeks for loan approval.

- Impact : Frustration, missed opportunities, and potential loss of trust.

- Solution : Streamline approval processes, automate verifications, and set realistic timelines.

2. Complex Documentation Requirements:

- Issue : Customers overwhelmed by paperwork.

- Impact : Abandoned applications, negative perception.

- Solution : Simplify forms, provide clear instructions, and digitize document submission.

3. Lack of Transparent Communication:

- Issue : Customers left uninformed.

- Impact : Anxiety, dissatisfaction.

- Solution : Regular updates via SMS, email, or a customer portal.

4. Inadequate Self-Service Options:

- Issue : Customers unable to track their loan progress independently.

- Impact : Increased call center inquiries.

- Solution : Develop a user-friendly online portal with real-time updates.

5. Inconsistent Customer Service:

- Issue : Varying service quality across touchpoints.

- Impact : Trust erosion.

- Solution : Train staff, standardize processes, and monitor service levels.

Remember, each organization's pain points may vary based on their unique context. By addressing these challenges, we can create a more seamless and satisfying loan customer journey.

Highlighting Areas for Improvement - Loan Customer Journey Mapping: How to Visualize and Improve the Experience of Loan Customers Across Different Touchpoints

### 1. Personalized Communication Channels:

One of the key opportunities lies in tailoring communication channels to individual preferences. Rather than relying solely on generic emails or automated messages, lenders can leverage data analytics to understand how customers prefer to be contacted. For instance:

- SMS Alerts : Implement real-time SMS notifications for critical updates such as loan approval, disbursement, or payment reminders.

- In-App Messaging : Integrate in-app messaging within mobile banking apps, allowing customers to interact directly with customer service representatives .

- Chatbots : Deploy AI-powered chatbots that can address common queries and provide personalized assistance.

Example : Imagine a borrower receives an SMS alert notifying them of a pending payment. The message includes a direct link to make the payment, streamlining the process and reducing friction.

### 2. Transparent loan Terms and conditions :

Customers often feel overwhelmed by complex loan terms and jargon. To enhance transparency:

- Visual Summaries : Create visual summaries of key terms, interest rates, and repayment schedules. Infographics or interactive charts can simplify understanding.

- Plain Language : Rewrite terms and conditions in plain language, avoiding legal jargon. Use simple explanations to clarify concepts like APR, grace periods, and prepayment penalties.

Example : A borrower reviewing their loan agreement encounters a visual summary that breaks down monthly payments, total interest, and any additional fees. This clarity fosters trust and informed decision-making .

### 3. Proactive Financial Education:

Empowering borrowers with financial literacy can lead to better loan management. Consider:

- Educational Content : Develop a resource hub on the lender's website or app. Include articles, videos, and webinars covering topics like budgeting, credit scores, and debt management.

- Personalized Tips : based on user behavior (e.g., missed payments), provide personalized tips to improve financial health.

Example : A first-time homebuyer accesses the lender's educational content, learning about mortgage options, down payments, and long-term financial planning .

### 4. Streamlined Application Process:

Simplify the loan application process to reduce friction:

- Pre-Filled Forms : Leverage existing customer data to pre-fill application forms. Minimize redundant data entry.

- Digital Signatures : Enable e-signatures for documents, eliminating the need for physical paperwork.

- Progress Tracking : provide real-time updates on the application status.

Example : A small business owner applies for a business loan online . The system pre-fills basic information based on their existing account data, expediting the process.

### 5. Post-Disbursement Support:

The journey doesn't end after loan disbursement. Enhance post-loan support:

- Financial Wellness Checkpoints : Regularly check in with borrowers to assess their financial well-being. Offer guidance if they face difficulties.

- Refinancing Opportunities : Notify customers about refinancing options when interest rates change or their credit improves.

Example : A borrower receives an email six months after their car loan disbursement, offering refinancing at a lower interest rate due to improved credit.

In summary, by embracing personalized communication, transparency, education, streamlined processes, and ongoing support, lenders can transform the loan customer journey into a positive and empowering experience. These enhancements benefit both borrowers and financial institutions alike.

1. understand the Customer journey :

- Before implementing any changes, it's crucial to thoroughly understand the loan customer journey. Map out each touchpoint, from initial inquiry to loan approval and beyond. Consider both digital and in-person interactions.

- Example : Imagine a customer applying for a mortgage loan online. The journey includes filling out forms, document submission, credit checks, and communication with loan officers. Understanding this process helps identify pain points.

2. Involve Stakeholders:

- Collaborate with stakeholders across departments—sales, marketing, operations, and customer service. Their diverse perspectives provide valuable insights .

- Example : The marketing team may highlight the importance of consistent branding throughout the journey, while loan officers can share common customer concerns.

3. Communicate Transparently:

- Keep customers informed at every stage. Transparency builds trust and reduces anxiety.

- Example : When a loan application is under review , send automated updates via email or SMS. Explain any delays and provide realistic timelines.

4. Personalize Interactions:

- Tailor communication based on customer preferences and behavior. Use data analytics to understand their needs.

- Example : If a customer frequently visits the loan calculator on your website, offer personalized loan options based on their browsing history.

5. Streamline Processes:

- Simplify paperwork, reduce redundant steps, and minimize waiting times. Customers appreciate efficiency.

- Example : Implement e-signatures to eliminate the need for physical paperwork. Offer a self-service portal for document uploads.

6. Train Staff Effectively:

- Equip loan officers and customer service representatives with the necessary skills to handle inquiries and resolve issues promptly.

- Example : Role-playing exercises can simulate common scenarios, ensuring staff members are well-prepared.

7. Gather Feedback Continuously:

- Use surveys, feedback forms, and social media monitoring to collect insights. Act on both positive and negative feedback.

- Example : If customers consistently praise the responsiveness of a particular loan officer, recognize and reward their efforts.

8. Anticipate Customer Needs:

- Proactively address pain points before customers express them. Analyze historical data to identify trends.

- Example : If many customers struggle with understanding loan terms , create a user-friendly glossary on your website.

9. Monitor Metrics:

- track key performance indicators (KPIs) related to customer satisfaction. Metrics could include Net Promoter Score (NPS), customer retention rates , and resolution time for complaints.

- Example : A sudden drop in NPS may indicate a problem that needs immediate attention.

10. Iterate and Improve:

- Implement changes incrementally and continuously evaluate their impact. Be open to adjusting strategies based on real-world outcomes.

- Example : After introducing a chatbot for customer inquiries, analyze its effectiveness and refine its responses over time.

Remember, enhancing customer satisfaction is an ongoing process. By combining these strategies and adapting them to your specific context, you can create a seamless loan customer journey that leaves a positive impression on borrowers.

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### The Importance of Monitoring and Iteration

In the dynamic landscape of lending, monitoring and iteration play a pivotal role in enhancing the loan customer journey. Here are insights from different perspectives:

- Continuous Feedback Loop: Regularly collecting feedback from loan applicants, borrowers, and existing customers is essential. Surveys, post-interaction interviews, and Net Promoter Scores (NPS) help gauge satisfaction levels.

- real-Time monitoring : Implementing real-time monitoring tools allows lenders to track application progress, identify bottlenecks, and address issues promptly. For instance, if an applicant faces difficulties during the online application process, the system can trigger alerts for manual intervention.

- Predictive Analytics: Leveraging historical data, lenders can predict potential pain points and proactively address them. For example, if a specific document upload step consistently causes delays, the system can suggest improvements or provide additional guidance.

2. Operational Efficiency Perspective:

- Process Metrics: monitoring key performance indicators (KPIs) related to loan processing times, approval rates, and error rates is crucial. These metrics highlight areas for improvement. For instance:

- Time-to-Decision: How long does it take from application submission to loan approval or rejection?

- Conversion Rates: What percentage of applications successfully convert into disbursed loans?

- Error Rates: How often do errors occur during data entry or document verification?

- Root Cause Analysis: When KPIs deviate from desired levels, lenders should investigate the root causes. Is it due to system inefficiencies, manual errors, or external factors (e.g., regulatory changes)?

- Lean Principles: Applying lean principles (borrowed from manufacturing) to loan processes can lead to streamlined workflows. Eliminating waste, reducing handoffs, and optimizing resource allocation contribute to operational excellence.

3. Risk Management Angle:

- early Warning systems : Monitoring loan portfolios helps detect early signs of potential defaults. By analyzing repayment patterns, lenders can intervene before a borrower becomes delinquent.

- Scenario Modeling: Iteratively testing different scenarios (e.g., economic downturns, interest rate hikes) prepares lenders for unexpected events. stress testing loan portfolios ensures resilience.

- Fraud Detection: Real-time monitoring detects suspicious activities (e.g., multiple loan applications using the same identity). Iterative improvements enhance fraud prevention mechanisms.

### In-Depth Insights: A Numbered List

1. Feedback-Driven Enhancements:

- Example: A bank notices a drop in NPS scores for its mortgage application process. After analyzing feedback, they discover that applicants struggle with understanding the documentation requirements. The bank iterates by simplifying instructions and providing visual aids, resulting in improved customer satisfaction.

2. Agile Process Refinement:

- Example: A fintech company uses an agile approach to iterate on its loan origination process . Sprint retrospectives lead to continuous improvements—reducing redundant steps, automating manual tasks , and enhancing communication between teams.

3. Behavioral Analytics:

- Example: An online lender tracks user behavior during the loan application journey . They notice that applicants drop off at the income verification stage. By A/B testing different designs and messaging, they increase completion rates.

4. Proactive Communication:

- Example: During loan disbursement, a credit union sends personalized SMS updates to borrowers. Iteratively refining the content and timing of these messages ensures borrowers feel informed and valued.

Remember, monitoring and iteration are not isolated events—they are ongoing processes. By embracing a culture of continuous improvement , lenders can create a loan customer journey that delights borrowers, minimizes friction, and fosters long-term relationships .

Continuously Improving the Loan Customer Journey - Loan Customer Journey Mapping: How to Visualize and Improve the Experience of Loan Customers Across Different Touchpoints

In the dynamic landscape of financial services , where customer expectations are constantly evolving, loan customer journey mapping has emerged as a powerful tool to enhance the overall experience for borrowers. By visualizing and analyzing the end-to-end journey of loan applicants, lenders can identify pain points, streamline processes, and ultimately create a seamless experience that fosters customer satisfaction and loyalty .

Let's delve into the intricacies of leveraging journey mapping for loan customers, drawing insights from various perspectives:

1. customer-Centric approach :

- Journey mapping encourages a shift from a process-centric mindset to a customer-centric one. Instead of focusing solely on internal processes and touchpoints, lenders gain a holistic view of the borrower's journey. This perspective enables them to empathize with the challenges faced by applicants at each stage.

- Example : Imagine a first-time homebuyer navigating the mortgage application process. Journey mapping reveals bottlenecks, such as excessive documentation requirements or unclear communication, which can frustrate the applicant. By addressing these pain points, lenders can enhance the overall experience.

2. Touchpoint Optimization :

- Journey maps highlight critical touchpoints where borrowers interact with the lending institution. These touchpoints include online portals, in-person meetings, phone calls, and email communications.

- Example : During the loan approval process, an applicant may need to submit income verification documents. If the online portal lacks clarity or functionality, the borrower may struggle to upload the necessary files. Optimizing this touchpoint ensures a smoother experience.

3. Seamless Transitions :

- Borrowers move through various stages, from initial inquiry to loan disbursement. Journey mapping identifies transition points and potential gaps.

- Example : After pre-approval, the transition to the underwriting phase is critical. Delays or miscommunication during this transition can lead to anxiety for the borrower. By streamlining the process and providing clear instructions, lenders can create a seamless transition.

4. Consistent Messaging :

- Inconsistent messaging can confuse borrowers and erode trust. Journey mapping emphasizes the need for consistent communication across channels.

- Example : If an applicant receives conflicting information from different loan officers or automated emails, it creates confusion. By aligning messaging and ensuring accuracy, lenders build confidence in their brand.

5. Emotional Journey :

- Beyond practical steps, borrowers experience emotions throughout the loan process. Anxiety, excitement, and relief are common feelings.

- Example : A borrower awaiting loan approval experiences heightened emotions. Journey mapping helps lenders understand these emotional peaks and valleys , allowing them to provide reassurance and support.

6. Feedback Loop :

- Journey mapping isn't a one-time exercise. Regular feedback from borrowers and employees ensures continuous improvement.

- Example : Post-loan surveys or follow-up calls provide valuable insights. If multiple applicants mention a confusing form, it's an opportunity to refine the process.

In summary, leveraging journey mapping in loan customer experiences is about more than just visualizing touchpoints; it's about understanding the borrower's perspective, optimizing interactions, and creating a seamless journey. By doing so, lenders can build lasting relationships and differentiate themselves in a competitive market .

Remember, the journey doesn't end with loan approval—it extends to repayment, refinancing, and beyond. As lenders embrace journey mapping, they embark on a path toward excellence in customer service .

Leveraging Journey Mapping to Create a Seamless Experience - Loan Customer Journey Mapping: How to Visualize and Improve the Experience of Loan Customers Across Different Touchpoints

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How to Map the Evolving Customer Journey in Financial Services

One of the most measurable and drastic shifts in consumer behavior due to the COVID-19 pandemic is how people manage their money. CNBC reports that 64% of Americans have changed their spending habits in the pandemic, including not-all-that-surprising data from Mint about how spending on certain line items was adjusted for the at-home economy (i.e. less concert and plane tickets, more athleisure and kitchenware) — as well as “revenge spending” that is occuring as the U.S. is opening back up.

Although the trend currently transcends all demographics, and the U.S. personal savings rate soared throughout most of 2020, we’re just seeing early signals of whether or not this behavior will continue post-pandemic.

Whatever the future holds for both savers and spenders, one thing is certain: Customers are looking to their financial services providers for increased support across various financial situations . This includes everyone from the 65% of consumers who say they want to make their new savings habits permanent to the 40% of Americans who don’t have $400 in the bank for emergency expenses. It also includes the small business owners who had to make critical decisions about getting and using their PPP loans, and the corporations that needed to closely monitor and adjust their cash flow in the volatile economy.

To provide that support that their customers want, financial institutions must first gain a greater understanding of their customers’ journey — how they decide that they need or want a financial product, what makes them choose the provider of that product, what makes them churn or keep that financial provider, and everything in between.

Enter the Customer Journey

Product and CX leaders have long used customer journey maps to visually compile the story of all the interactions between the customer and the brand. But we often hear from clients, even leaders in their industries, that journey mapping isn’t providing the full value they need it to in order to meaningfully impact product development.

To create journey maps that drive action and impact decisions made about product roadmaps, WillowTree approaches journey mapping in four phases. Each phase has a distinct output that centers on the customer journey, but also incorporates business value and technical feasibility. Each phase is aimed to closely align business leaders, UX teams, and engineering teams, avoiding messy handoffs and accelerating product development.

The 4 Phases of Journey Mapping

WillowTree addresses customer needs and pain points with four phases in our journey mapping process. Like any other aspect of digital product development, the process is iterative and goes through varying stages of fidelity, with different value-adds for the team at each stage.

Phase 1: Immersion Workshop

To begin a product strategy engagement, we start by talking to our client stakeholders across multiple functions at the company and subject matter experts on the user base and current product. The proto-user journey is often captured in a workshop, either in-person with many sticky notes when feasible, or virtually using a tool like Miro or Mural. The goal of this workshop is to gather assumptions that our client stakeholders might have about the motivations, needs, and pain points of their user base.

Phase 2: Qualitative Insights

Phase 2 shifts the focus to the user – to construct the current user journey, our research team begins by documenting the common tasks, pain points, needs and emotions that customers experience as they engage with the brand. We often accomplish this phase through qualitative research such as interviews, user observations, or contextual inquiry. After collecting a sufficient amount of data for each customer group, our team extracts common patterns that form a representative experience with the brand.

Phase 3: Quantitative Insights

Once we’ve constructed a user journey, we go back to users a second time to deepen our understanding and prioritize opportunities for improvement. One method that we often use is the Jobs To Be Done approach. In this approach, we quantitatively assess the importance of the tasks that we’ve plotted on our journey map. In addition, we measure customers’ level of satisfaction with accomplishing those tasks. By looking holistically at which jobs/tasks matter most and which ones have lower levels of satisfaction, we can identify the most important areas of the customer journey that need to be improved.

Gleaning these quantitative insights are some of the most exciting parts of mapping the user journey, because this is where we can uncover the biggest opportunity areas that the digital product could address for the user.

Phase 4: Future-State Journey Mapping

One of the most common questions we hear from our clients once they complete their journey map is, “Where do we go from here?” The current-state journey map that is created in the three previous phases provides a clear picture of users’ current unmet needs and satisfaction. But what about the features that don’t exist yet, or aren’t on this year’s roadmap? How can you create journey maps that not only capture the perceptions of today, but also the expectations of tomorrow?

WillowTree helps our clients create future-state journey maps ( Forrester recently published the WillowTree approach as best practices in their research), particularly for our clients that are interested in exploring new technologies, such as voice. Future state journey maps can create alignment for teams by defining one clear set of goals that is centered in the user experience and business goals, rather than by technology changes for design trends. The latter should always be made in service of the former.

The past few years have propelled innovation at an unprecedented pace. To ensure a competitive advantage both now and in the future, banks can use journey mapping to better understand customer expectations and swiftly adapt to their needs. WillowTree can help. Contact us today to learn more.

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Customer journey mapping in banking: A 7-step framework for success

In today's competitive banking landscape, providing an exceptional customer experience is crucial. The way to deliver this is through understanding the customer journey, and this is where customer journey mapping comes in. By visualizing the customer's interactions and experiences at each touchpoint, banks can gain valuable insight and make informed decisions that help tether customers to their brand.

Key takeaways

Journey mapping helps identify areas for improving and optimizing the overall customer experience.

79% of companies say their journey maps have allowed them to become more customer-centric.

Traditional banks are under threat—digital-only banks are gaining favor, making CX even more important to differentiate.

What is customer journey mapping in banking?

The customer journey in banking begins the moment the customer starts interacting with your bank’s products and services. It provides a roadmap for how your customers interact with your bank. That can be in the simplest forms, such as opening a digital account or making a transaction. As loyalty builds, customers may come to your bank for mortgages and wealth-building products.

No matter the product or service, customers today expect banks to deliver seamless digital experiences through a website or app. Online banking has opened the door to digital customer journey mapping , where banks can see and analyze every touchpoint a customer makes along the way.

A retail banking customer journey map visually shows every step a customer takes—from the first interaction to capturing every engagement with your bank over time. Customer journey mapping uncovers key insights such as:

What behaviors do customers exhibit

What customers are engaging with on your website or app

What actions customers take or don’t take

Where there’s friction or areas of struggle

Once these insights are visually mapped, banks can use them to improve functionality, fix errors and identify opportunities to increase conversions or decrease time-consuming roadblocks.

Example of a retail banking customer journey map

According to Hanover Research , 79% of companies say their journey maps have allowed them to become more customer-centric. Below is an example of a typical retail banking customer journey.

Image source

Why is customer journey mapping important for banks?

Customer journey mapping empowers banks to gain a deeper understanding of how their customers interact throughout their entire experience with the brand.

During the process, banks can identify and address inconsistencies or gaps in services with the goal of improving customer loyalty, retention, engagement and the overall customer experience.

According to Bankrate's key statistics on digital banking in 2023 , approximately 60% of consumers say they are very or somewhat interested in using a digital-only bank in the next year. The generation most interested in digital banks is millennials—a demographic traditional banks need to grow revenue.

In a highly competitive industry that’s undergone incredible digital transformation in recent years, one size does not fit all. Simply providing digital access to products and services isn’t enough. Customer journey mapping gives banks the opportunity to get a granular picture of the digital experience so they can differentiate and innovate to win over customers.

The benefits of customer journey mapping in banking

Customer journey mapping in banking is a gateway to gaining a deeper understanding of customers, making customer service a priority, improving customer retention rates, optimizing the customer experience, eliminating ineffective touchpoints and better predicting customer behavior.

Below, we’ve identified four of the key benefits of customer journey mapping for retail banks.

1. Improves customer satisfaction

Understanding the customer journey is imperative for banks to improve customer satisfaction. Customer journey mapping uncovers key insights, such as pain points, and empowers banks to proactively address them. By streamlining processes and reducing friction, banks can significantly improve customer satisfaction levels.

2. Enhances customer loyalty

Just as a negative customer experience can drive customers away from your brand, a positive experience is directly linked to customer loyalty. Customers want to do business with a bank that makes their journey effortless and fruitful. By identifying and eliminating pain points, banks can create a seamless and enjoyable experience that encourages customers to stay with the bank for the long term.

3. Increases cross-selling and upselling opportunities

Core offerings such as checking or savings accounts may be the bread and butter for a bank, but to grow revenue, they need to cross-sell and upsell too. Customer journey mapping helps banks identify moments where they can introduce additional products and/or services to existing customers. By understanding the customer's needs at each touchpoint, banks can offer personalized recommendations that add value to the customer's banking experience.

4. Optimize channel integration

With the rise of digital banking, customers now interact with banks through various channels, including online, mobile, and in-person. Customer journey mapping enables banks to optimize the integration of these channels, ensuring a consistent and seamless experience across all touchpoints.

👀 Check out The Complete Guide to Customer Journey Maps for more benefits.

How to create a customer journey map in banking: A 7-step proven framework

Banking customer journeys are critical in today’s world, where there are so many touchpoints to connect with consumers and so many devices they interact on. Because of how important they are, we’ve pulled together a 7-step framework below to set your bank up for success.

1. Define customer segments

Begin by identifying the different customer segments that the bank serves, such as baby boomers, millennials and Gen Z. Each segment has different needs and expectations, requiring tailored customer journey maps.

Various segments may also bank differently. According to research , Gen Z is less likely to have a traditional bank account than millennials or baby boomers. The same study revealed that just 47% of Gen Z respondents, versus 75% of baby boomers and 70% of millennials, claimed to have an account with a traditional bank, credit union, neobank or technology company. Only 28% of baby boomer respondents, compared to 73% of millennials and Gen Z, indicated they had used a mobile banking platform in the last three months.

2. Identify key touchpoints

Map out the various touchpoints where customers interact with the bank, including digital platforms like websites and mobile apps or call centers. Highlight the key stages from initial awareness to becoming a loyal customer.

Examples of touchpoints are:

• Advertising (including digital or print)
• Social media
• Welcome/thank you emails
• Physical branches
• Customer service
• Influencer recommendations
• Peer reviews
• Customer onboarding
• Physical and digital events

👉🏻Learn more about the different touchpoints in The Complete Guide to Customer Journey Maps .

3. Gather customer data and feedback

Engage with customers to gather feedback on their experiences at each touchpoint. Use surveys, polls and live chats, just to name a few, to collect customer feedback.

A voice of customer (VoC) program can help you gather customer feedback. When integrated with a digital experience intelligence (DXI) platform like Glassbox, you get data around the context of customer feedback, so you can understand:

What performance issues the customer experienced

What parts of your website or app customers interact with

Which audience segment they were from (depending on the tool you use)

This data gives you a holistic view of the customer experience and enables data-driven decisions.

👉🏻Find out how your bank can benefit from implementing a VoC program in The Complete Guide to Voice of Customer .

4. Map the customer journey

Create a visual representation of the customer journey, including all stages and touchpoints. This can be done using flowcharts, diagrams or specialized customer journey mapping software. Emphasize the importance of empathy and understanding customer emotions.

👉🏻Find customer journey map examples and templates in The Complete Guide to Customer Journey Maps .

5. Identify pain points and opportunities

With a customer journey map in place, banks can analyze it to identify pain points, bottlenecks and opportunities for improvement. With this data in hand, banks can prioritize these areas and implement changes to enhance the customer experience.

It’s important to understand the issues and challenges banking customers face. We’ve outlined the most common ones below:

Complex onboarding processes: Overly complicated onboarding with many steps to complete provides a negative first impression that diminishes customer experience.

Poor user experience (UX): Confusing website or app navigation, slow loading times and unresponsive design can frustrate customers and cause them to leave.

Lack of personalization: Customers may feel that their bank doesn’t understand their individual needs, resulting in irrelevant offers and services.

Complex products and services: Difficulty understanding complex financial products and services can hinder decision-making.

Limited digital services: Banks that lag in offering digital services, such as mobile check deposits, digital account opening or online loan applications, may frustrate customers.

Cross-channel inconsistency: Varying experiences between online, mobile and in-branch services can cause confusion and frustration.

Ineffective communication: Customers may not receive timely or relevant communication from their bank, leading to missed opportunities or misunderstandings.

Inadequate customer support: Difficulty reaching customer support or receiving timely assistance when facing issues or inquiries can cause frustration.

Security concerns: Worries about data breaches, identity theft and fraudulent activities can erode trust in online banking.

🔥 Hot tip: Using a digital experience intelligence tool like Glassbox to identify points of friction at important touchpoints in the digital journey is imperative when trying to identify opportunities for optimization and improvements.

6. Use data to make necessary changes and improvements

Use insights to make data-driven improvements to the banking customer journey. Leverage information gained from journey visualization, AI-driven insights and business impact metrics to take actions that improve the customer experience.

7. Continuously monitor and update

The customer journey isn’t static and is continuously evolving. Monitor customer feedback, industry trends and changes in customer behavior regularly to ensure it’s working effectively. Having access to tools that enable banks to easily access the most meaningful insights is critical in a digital era, where the best digital experiences create loyal and engaged customers.

🔥 Hot tip: Typical data analytics tools can offer useful quantitative data, but digital experience intelligence takes insights far beyond these capabilities for macro and micro conversion points that matter most.

With a comprehensive suite of sophisticated tools, you can optimize the parts of the customer digital journey that will provide the most value to your customers and, in turn, your bottom line. Get more information about the tools you need to get ahead in the blog, Digital customer journey stages exposed: From awareness to purchase and beyond .

Examples of customer journey mapping in banking

Some high-profile banks are proficient in customer journey mapping. Whether striving to improve customer experience in a contact center or introducing new customer-centric offerings, these banks have this in common—they understand the value of customer journey mapping for retail banking. Below are examples of three banks doing customer journey mapping right.

1. Citizens Bank

Citizens Bank leveraged journey mapping to improve customer experiences with its contact centers. The bank used reviews and customer feedback for journey mapping. In the end, the mapping exercise led Citizens Bank to shift focus away from an internal metric of call handling time to a more customer-centric metric of improved first-call resolution (FCR).

2. Bank of America

Bank of America stands out for creating exceptional customer experiences and having a customer-centric approach. By mapping the customer journey at all stages—awareness, consideration, purchase, usage, loyalty and advocacy—the bank improved its mobile and online banking offerings, created a cash-back rewards program and introduced online appointments.

3. Wells Fargo

In its journey to customer experience innovation, Wells Fargo leveraged customer journey mapping to help customers better manage their finances. This process led to the introduction of a new app that helps customers keep track of and maintain more control over recurring payments for services they may no longer use.

It pays to understand your customers’ banking journeys more clearly

Customer journey mapping is a valuable tool for banks to enhance the customer experience. By understanding the customer's perspective and identifying pain points, banks can make informed decisions to streamline processes, optimize channels and ultimately provide a seamless and exceptional banking experience.

A digital experience intelligence (DXI) platform like Glassbox provides rich insights that show you the complete picture of what your banking customers are doing when engaging with your website or app—and, even more importantly, why they’re behaving that way. These advanced insights can be used to improve the banking customer journey. Learn more at glassbox.com .

1. What is customer journey mapping in banking?

A banking customer journey map visually shows every step a customer takes with digital platforms—from the first interaction to understanding everything they do while engaging with the bank over time. Customer journey mapping uncovers key insights and pain points so banks can improve the customer experience.

2. What are the benefits of customer journey mapping for banks?

The four primary benefits of customer journey mapping are:

Improved customer satisfaction

Enhanced customer loyalty

Increased cross-selling and upselling opportunities

Optimized channel integration

3. What are the steps to implementing customer journey mapping for banks?

The seven steps a bank should take to implement customer journey mapping are:

Define customer segments

Identify key touchpoints

Gather customer data and feedback

Map the customer journey

Identify pain points and opportunities

Use data to make necessary changes and improvements

Continuously monitor and update

Lauren Barber

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Customer journey mapping in banking: what it is and how to get started

Like many other sectors, the world of banking is facing persistent pressure to innovate within a society undergoing rapid technological, environmental and social change. Due to these changes, the way we engage with banks and access money isn't the same as it was five years ago. Short: the customer journey in banking has changed – and it's highly likely it won't be the same five years from now into the future. 

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To meet these changing environmental pressures banks are required to maintain a tight understanding of customer experience that will inform service innovations, while simultaneously creating more cost effective, efficient ways of working and profitable business strategies.

By implementing service design approaches and tools, such as journey mapping and personas, banks are able to adapt swiftly to changes in their customers' experience. Through an in-depth understanding of their customers, banks are able to provide services that address real needs, adapt to novel circumstances in which people are using money, and develop increasingly personalized interactions throughout their service delivery that maintain high levels of confidence and trust.

In this article we will discuss:

• Customer journey mapping in the context of banking
• Questions to solve in banking
• Customer journey maps for digital banking
• How to create a journey map for banking
• Example journey map: banking experience
• Typical challenges of introducing journey mapping to banking

What is customer journey mapping in banking?

As with many other industries, customer experience in banking or financial services is increasingly becoming a driving force that determines whether service providers succeed or fail. Because of this, how service providers are able to refine their service offerings to accurately meet customer needs are greatly affecting their ability to attract and retain valued customers.

As people's lives change, so too do their needs for how they store, save and access their financial resources. Some of the driving forces affecting the customer experience in the banking industry are:

• Inconsistent loyalty from customers
• Increasingly technology-driven generations of customers
• Evolving demands for personalized banking experiences
• Shifting perceptions around data security and transparency  

By utilizing customer-centered or service design approaches, banks are able to give themselves a competitive edge with these evolving trends and ensure their services stay relevant and needed into the future.  

In this article we will explore some instances where journey mapping can assist in the development and innovation of banking services, then we will conclude with a short example of how journey mapping can assist in the personal journey of someone taking out a home loan.

How to improve the customer journey in banking?

Customer journey maps allow us to address a number of important questions in relation to our service delivery, from customer understanding, identifying pain points and anticipating future service innovations. There are some questions you should ask yourself when you're designing customer experience in banking.

Who are our customers?

Central to delivering great customer centered services is having a deep understanding of who our customers are, what they are trying to achieve and what customer experiences they expect while they engage with banking services.

Banking institutions offer services which play a central role in many of our lives. Because of the sheer number of people that engage with banks, there also exists a diverse range of different attitudes, values, and expectations when it comes to receiving financial services.

So how do we develop an understanding that enables us to customize and deliver personalized banking experiences that both retain and attract customers? We develop personas that are grounded in people's actual experiences in the banking context, reduce assumptions about our customer’s behavior, and accurately reflect the types of people we are attempting to help.

• How traditional are our customers?
• How much human interaction do they require in their banking experience?
• What do their lifestyles look like?
• What channels are best to connect with them?
• How comfortable are they embracing new technologies?
• What digital devices are they using?

On one hand, we might have a young customer who is completely willing to enable NFC (read: wireless payments) on their mobile device and start using it for daily payments, on the other hand, we might have a customer who is entirely risk-averse with these forms of technological innovation and unable to comprehend where to start if they had to use their phone to pay for things. Being able to develop different customer personas that represent our users and leveraging them to develop meaningful insights allows us to tailor our service delivery in ways that are more personalized, trustworthy and likely to satisfy their needs.

How is the customer journey in banking changing?

Digital transformation is affecting all industries and banking is not excluded. In recent years we have seen fintech providers embracing technology in ways that provide novel and innovative customer experiences that confront traditional modes of banking.

Digital banking and changing customer experiences go hand in hand. Neobanks (digital-only banks) such as Revolut, N26, and Monzo are all offering banking solutions that are driven by technology and customer experience.

These digital disruptors are providing banking services for a new generation of customers that values polished UX, accessible ways to manage their money and increasingly personalized experiences.

Neobanks are considering the journey of the customer and how they interact with banking services. By providing seamless interfaces they are enabling their users to quickly manipulate money the way they need to - in real time, through this clever use of available technology they are able to provide convenient and enjoyable solutions to user needs.

Take for example a large group of 10 people who have just had a meal together at a restaurant. When It comes to payment it may be time consuming and difficult for a restaurant to split the bill with such a high number of patrons. The burden then falls on the customer to organise and arrange how money will flow to the appropriate person when the bill is paid.

Innovative companies such as Tikkie in the Netherlands are facilitating payments through quick and easy Whatsapp payments that people can access and share with large groups. Meaning that one person can cover the bill and receive payments from other members of the group in a fast and simple manner by simply sharing a payment link. Innovations such as this are changing the landscape of possibility within personal finances.

Whether or not digital-only banks are considered as a threat to traditional banks, the innovations they provide are enough to draw significant numbers of new and existing customers by shifting peoples expectations of how banking services can be delivered.

Traditional banks, as well as neobanks benefit from putting an emphasis on their customer's journey so that they are able to adapt and innovate their service delivery to accurately meet people's needs.

Through the process of researching and creating customer journey maps , banks are able to reduce assumptions and answer a number of important questions, such as:

• Where and how are people engaging with financial services?
• How do customers discover and form a relationship with a financial institution?
• In what ways are people restricted by traditional methods of banking?
• What levels and types of customer support do people require?  

How are customer needs and expectations driving innovation in banking services?

As digital disruptors are shifting viewpoints about what services banks are able to offer, as well as how they are offered, traditional banks are required to match customer expectations and provide attractive solutions that are able to retain existing and attract new customers.

New digital financial technologies such as the Software-as-a-Service banking engine, Mambu – are enabling great changes in the banking sector by allowing innovative companies to provide users with customized, flexible and simplified platforms for accessing their money.

To provide these innovations at speed financial service providers must keep a close eye on their user needs and how they can support them better, whether this is through what types of services are provided - or the interfaces through which users access those services.

A successful combination of the two can alter the perception of how banking feels as well as the possibilities it creates within different journeys, leading to better outcomes for customers as well as the banks people are engaged with.

For example, the neobank N26 created a partnership with TransferWise that allows their users to make effortless financial transfers to over 30 different currencies. Using their app, customers of N26 are able to make international transfers, as they would to someone within their own country - in the process simplifying and reducing the cost for users. As the world becomes more connected and people are engaged in work that crosses geographical borders, the need to make international financial transfers increases, and these types of features become more appreciated.

Another innovative example is peer-to-peer lending options being offered which streamline borrowing and simplicity of people to access personal loans. Platforms such as Lendingclub and Upstart are able to offer services that connect borrowers and lenders, bypassing the complex and costly loan processes offered by traditional banks. By understanding that for many customers' the process of setting up a small-scale loan was complicated and cost-prohibitive, new services were developed that allow for low-interest P2P lending and more simplified procedures for setting up small loans.

These types of innovations are changing the way people experience and interact with their finances and are setting expectations for the future.

As many people have adapted to the convenience of using smartphones and digital platforms for accessing banking services, the necessity of physical banking locations decreases. By providing simplified UX experiences, smart features such as AI-driven analytics and support, and novel services, disruptors in digital banking are able to support people's desired lifestyles and draw in new customers.  

Questions that journey mapping in banking can answer for innovation include:

• What outcomes are our customers trying to achieve with banking?
• What experiences and situations are pain points for a customer in their banking journey?
• How can emerging technology meet the needs of customers?
• What innovative ways could help customers access their finances?

By understanding the journeys banking customers are on and how they like to move and access money, innovations such as this are easier to anticipate and develop.

Why are some people still not using banks?

"Globally, about 1.7 billion adults remain unbanked—without an account at a financial institution or through a mobile money provider." ( Worldbank 2017 )

Of course, the world has changed a lot since 2017, however, the fact remains that a large number of people exist in the world without a bank account represents a large market for banks that can be explored. The majority of these people live in developing countries or locations where banking is simply impossible, or affordable. However, the constraints experienced by these countries and "unbanked" markets are driving innovations in banking technology.

By looking at the experience of users not engaged in banking and mapping their journey we clarify opportunities for how services can be delivered that meet their needs. Digital disruption is also affecting these markets. For example, mobile banking has made the process of engaging with digital banking services fast, affordable and has practically eliminated the need for physical banking locations - in the process service providers have been able to open up these once inaccessible markets.

Taking a look at the life and experience of people who are currently not engaged in banking and mapping their journey we are able to look at the challenge with new eyes. By putting these maps to work banking service providers are able to answer the following questions:

• What are the barriers that prevent people from using banks?
• What physical or digital constraints are people experiencing in the context of banking?
• Can people afford to engage in banking services? If not, why not?

How do we build trusted relationships with customers?

Existing banks have the privilege of long histories of building trust with their customers. This trust is an important currency in banking that maintains relationships and loyalty with customers. Even though incumbent banks may have the advantage of a history of service delivery, the pressures of developing and maintaining trust exist for them as much as it does for new banking organizations.  

So for personal banking, how does journey mapping play a role in helping to develop trust?

Being able to map out a customer's emotional journey as they engage with a service can help to identify moments where trust is compromised or service delivery isn't how they expected.

By building in smart features and touchpoints into the customer journey, personalized relationships can form that give customers more security and confidence that their money is in safe hands.

This disparity of trust between traditional and neobanks can be highlighted in a number of different areas, there are surveys that show people are hesitant to store large amounts of funds in digital banks, seeing them primarily for quick purchases and expenses. It has been shown that users also still value face-to-face interactions and the presence of physical banking locations and the security they represent - these features, along with good existing relationships give traditional banking institutions an advantage, especially during times of uncertainty.

However new banks continue to drive innovations that attempt to build trust in the digital age. Features such as push notifications for transactions are features that build trust with customers that they have intimate contact with financial activity on their accounts. By knowing when transactions are being made in real time users are able to quickly take action if they suspect suspicious activity or their cards are being inappropriately used.  

Other security features include the ability to quickly disable any active cards if any fraudulent activity or if a user suspects they have lost their bank cards. These kinds of features give a sense of ease and control to users and allow them to trust that their important financial assets are safe and secure.

Finally, verification techniques using security codes and authorized devices add extra layers of security for accessing and updating account information. Especially in the digital space, it is important for people to know that there are secure methods for verifying their identity before any changes can be made.

Questions that journey mapping can answer for building security and trust:

• What forms of verification are convenient yet still secure?
• With digital-only banking what levels of personalization in service delivery can replicate and simulate the security of incumbent banks?
• How can services be delivered in ways that build trust customers?
• What security features make users feel they are in control of their finances?

Customer journey maps for banking in the digital field

Until now we have only looked at experiences that customers have when communicating with their bank in person.

But digital banking is increasingly important – especially with a young and tech-savvy audience.

Customer journey maps can be of great help to digital banking. A prime example to look at could be an app. Especially for online banking, a journey map is a great way to prototype. Start out by doing some research. Ask your customers the following questions:

• What functionalities are essential, and which ones are nice-to-haves? (Wire transfer, access to equity funds and other investments, option to book an appointment with the bank advisor…)
• How to structure the app in a logical and practical way?
• How easy is it to transact banking businesses online? 
• How to best solve the need for two-factor authentication (another app?)
• What can we offer to customers who lost their ATM or credit card? Can they immediately and easily lock it through the app?

These questions support banks in creating a great user experience with their digital products, while also future-proofing their business offer. Journey mapping for digital banking helps to understand the core features of the product.

Start mapping out the process of potential use cases of the app, ideally in a journey map hierarchy. This will help you to understand the experience a customer will have when using a digital product for banking. If any issues occur, this is the quickest and cheapest way to find out.

How to create a customer journey map for banking?

A good journey map goes beyond the touchpoints a customer has with our organization and helps us to understand their lives in a more holistic way. In this section we will introduce an example for customer journey mapping in banking. We will look at a few applications of mapping a journey of buying a house and applying for a home loan.

Communication channels

As we discussed earlier in the article, the channels in which people are engaging with banks are changing. Historically the majority of communication for personal banking services has been done in person. Face-to-face interactions are still the gold standard for many people as the experience of talking with a real person inherently feels secure and engenders trust. But how do you recreate this kind of trust in a digital setting?

As technologies and preferences shift around how people want to interact with financial service providers so too do the channels service providers must adapt and use. This does not exclude face-to-face interactions, however it expands on the possibilities available. With a customer appetite for customized, personalized, digital experiences at the tap of a button, banks must be willing to understand and match these experience needs.

By understanding what channels customers prefer to communicate through when they are taking out a home loan, we will ensure they have the right information at the right time, and in the right format. Whether this is through face-to-face meetings, email, SMS, or embracing newer technologies such as AI-assisted chatbots or virtual meetings. In the end banks must drive for innovation while still developing and maintaining customer trust and a sense of security for people.  

Files, documents and in-depth information

File lanes can be helpful for holding all the different types of documents and information a journey will require. In the process of buying a house and taking out a loan there are a large variety of different forms and information that a customer must understand and complete.

A file lane allows us to centralize these documents so they can be attached to the relevant sections of a customer journey. From here we get a clear picture of when, where, and how a customer should receive information.

Dramatic arc and emotional journey

Buying a house and taking out a home loan can be a big step involving many new decisions and increased levels of responsibility for a lot of people. There can be pressures around deciding what interest rate to choose, choices on how to pay back the loan, and who to go to for trusted advice. Depending on the persona for the type of person we are working with, this can result in a range of different emotional experiences.

As well as tracking the emotional experiences of our users, it is also important to focus on the dramatic arc or the peaks and troughs of engagement for users as they navigate through their journeys. Perhaps our users are highly engaged when they are about to commit to a loan, because of an overwhelming amount of information they have to consider as well as the excitement of making a commitment, this experience can be both negative for the user while also having high dramatic value.

By understanding how our users' emotional journey intersects with the dramatic arc of their service experience, we are better able to identify aspects of our customers' experience where they need additional help and support. It leads us to ask important questions, such as how might we support their process by delivering the right amount of information, at the right time? How much communication gives our customers assurance that they are being thought about and cared for?

By addressing emotional elements such as this, and others along a customer's journey, we have the opportunity to make our service feel more safe, trustable, and enjoyable for people to receive.

Managing a range of different customer journeys in repositories

Customer journeys can be understood at a range of different levels. From the macro scale, right down to small micro-interactions. All play a role in the overall experience of a customer and if orchestrated well will contribute to seamless and delightful moments as someone receives our services.

Perhaps this means creating journeys where he spends a day moving between different channels of information, asking family members for advice, trawling through many different websites, and reading books on how to make his decision. At a fine-grain, this might even be how someone navigates information on our particular website, what his pain points are, and how easy it is to access the relevant information that is needed.

By linking these sub journeys together we are able to see both the higher-level picture and move into fine-grain detail on all elements throughout his experience - creating a detailed repository.

The more detail we are able to add to our journey map will determine how clear our vision for service delivery improvements will be. Adding extra lanes with data, visual artifacts and additional insights make our journey maps increasingly rich and usable.

Example customer journey map for the banking sector

Typical challenges of introducing customer journey mapping to banking

Challenging business as usual.

As is the case with many established industries, proposing new approaches to working can be met with resistance as they challenge long-held existing ways of working. This is the way we do things here has held up for a long time… however in the face of change, we can no longer afford to continue working as we did in the past. Digital transformation, disruptors and novel types of service delivery are all challenging perceptions of what is possible in the world of banking. Champions for service design approaches must be able to convey the value of working differently, and demonstrate how new approaches can harmonize and amplify existing ways of working, rather than simply replace them.  

Understanding the end-to-end customer journey  

Banking services can be highly complex and involve a multitude of different customer journeys. Everything from checking account balances, taking out loans, depositing and withdrawing money and making transfers to third parties, the list of actions and journeys in banking is vast.  

Developing quality journey maps requires a perception shift for banks to go beyond simple touchpoints to understand customers' end-to-end journey, which can be a big undertaking. However the benefits of this understanding are also noticeable. With this foundation service delivery can be innovated and developed in ways that provide the customer with a more cohesive, logical and enjoyable banking experience.  

Organizations can also encounter challenges utilizing journey maps to make sustainable changes due to the commitment and effort required to change existing systems, redevelop policies, while at the same time minimizing risk and maintaining trusted relationships.

Often change efforts initiate with a great sense of enthusiasm, only to be held back when faced with the complexity of implementation. To mitigate these challenges, efforts to understand and change existing systems must move at an appropriate pace that is manageable and not overwhelming. Pick small wins, communicate clearly and often, and don't expect to change the whole system all at once. Many small shifts to different journeys will lead to radically improved customer experiences over time.  

Going digital

There are great opportunities, as well as risks in going digital with banking services. As banks rely so heavily on trust and security, understanding the customer journey and making shifts can be a gradual process as not to compromise existing relationships. The challenges involved with going digital involve considering a range of different ways in which services can be used. For some banks offering digital services, this means a thorough understanding of the regulatory environment in which they exist in and how they will be able to manage and prevent their services from being used for illegal purposes, such as tax evasion.

Driving cross-departmental collaboration

Banks are well known for having siloed departments and established ways of working. When one hand doesn't know what the other is doing, there is a risk that the customer experience of our services can be fragmented and difficult to navigate, on top of this we can lose out on efficiency in delivering services, cutting into our bottom line. This is where new players in the banking market are really able to make an impact as they are often smaller and with the use of agile methods and service design approaches are able to quickly adapt and modify their service delivery to meet customer needs.

Existing banks are required to embrace these new customer-centric approaches and develop functioning cross-department teams to solve innovation and CX challenges.

Journey maps offer a great opportunity to create a central location for data management and foster collaboration between different departments. By adding data lanes and KPI data to journey maps we can create useful tools for improving the way we work together to deliver better services.  

There are many applications for how journey mapping can assist our understanding of customer experience and service delivery in banking.

By developing great persona's we are able to understand and communicate who our customers are - what their personalities are like and how they prefer to engage with banking services.

By mapping out the experiences of these different personas we are able to have insights into areas of service delivery that are open for disruption and innovation. Digital-only banks are already capitalizing on insights from this customer journey and developing innovative solutions to people's banking needs such as peer-to-peer lending, digital-only banking, and fast personal transactions.

Emerging technologies and innovative platforms are also changing people's experience and expectations of banking, though intuitive UX experiences, reduced cost services, and removing the need for physical banks organizations are able to increase the accessibility of banking services for whole new markets of people.

Sitting at the foundation of all this innovation lies an understanding of customer experience. As the world continues to evolve and change, organizations that use the best tools for mapping customer journey can manage, organize and extract insights from this experience. They will also have a competitive advantage for crafting better services and addressing their customers needs.

Now it's about implementing what you've just learned: Create banking journey maps to understand the customer experience and innovate your services.

The journey mapping tool Smaply lets you easily create banking journey maps, personas, and ecosystem maps.

Sign up now, it's free!

Cambrian Berry

Cambrian is a creative, passionate and self motivated service designer and loves seeing solutions to complex problems, especially when it comes to help people towards experiences that improve the quality of their lives.

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Consumer lending

Understanding the empowered borrower

Our experience radar for consumer lending

We asked borrowers about their consumer expectations for auto, home, student, and personal loans. We learned that borrowers’ expectations are being shaped by other industries that focus on customer satisfaction and operate in a collaborative environment.

We found disruptors continue to make inroads, particularly amongst millennials. These new entrants have joined the market with better technology—including mobile apps and financial management tools—that simplify the loan process and provide the fast loan experience that consumers want.

To stay ahead, lenders need to adapt to changing customer expectations, borrower trends, and new technology before new entrants can extend their customer footprint. Below, you can download the full report or explore some of our findings around specific features lenders should consider for each loan type.

Download Consumer lending

Understanding today’s empowered borrower.

Key findings

Online all the way, keep things quick and simple, reaching younger borrowers, cross-selling works.

The majority of consumers now prefer to apply for loans online, especially young borrowers. While some segments still prefer human interactions for certain parts of the process, a viable digital process is now mandatory for lenders wishing to compete across all consumer segments.

Other than economic factors or having an existing relationship, borrowers believe the most important factor in choosing a lender is the speed of the process. More sophisticated features such as automated status updates and financial literacy tools are popular but ranked lower in importance.

In addition to a stronger preference for a digital application process, younger borrowers are less satisfied with their current application experience than other consumer segments surveyed.

For each asset class, having an existing relationship with a lender was seen as a key referral source for the loan in at least one-in-five cases. While traditional marketing and referral sources remain important, the cheapest way to generate new business may be to target the customers lenders already have.

A fast end-to-end application process is the largest differentiator in auto loan financing

While flexible products and low closing costs are very important factors that consumers consider when looking for auto loans, these are largely driven by product strategy and economics. By far the largest differentiator for auto lenders is a fast end-to-end process, which is likely why dealer financing proves so popular.

Home borrowers value lenders that combine digital tools with knowledgeable advisors

While it's true that home borrowers prefer a more digital process today than they did two years ago, much of the data shows that digital and traditional channels have to be equally adept at servicing mortgage borrowers. In other words, many consumers want to research and apply for a home loan online, but when it comes time to the closing stage, consumers want to be able to talk with someone knowledgeable to address their concerns, if needed.

An efficient application process is an imperative in student loans

As the younger generation heavily values a digital process and instant gratification, it is important for lenders to provide a fast end-to-end process, quick decisions, and frequent status updates to student borrowers. There is an opportunity for mobile apps to be successful if they have features that allow the customer to lock in an interest rate, check an application status, and compare loan products.

Offering flexible products and terms is a sweet spot in personal loans

Personal loans are typically short term in nature and paid off relatively quickly, making the customer experience—a simple and seamless application process—more critical than interest rates in many cases. Quick decisioning by lenders, combined with flexible products and terms, is the sweet spot that consumers search for when looking for a personal loan lender.

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Customer journey mapping: The long and winning road

It’s no secret that happier customers are our most loyal, dependable customers. And in today’s disruptive environment, where customers can choose to bank with anyone instead of the neighborhood branch, it’s more important than ever to learn just what keeps customers happy and loyal.

That’s where customer journey mapping comes in. While the tool is not widely used in the banking industry, customer journey mapping is a proven, successful way to identify how customers make buying decisions—and where they get frustrated and back off, never to be seen again. In fact, customer journey mapping represents one of 2019’s biggest opportunities for banks and credit unions to find out more about customers and expand relationships.

The goal is to learn how customers interact with a company, the good and the bad. The map documents the path potential customers can take. It generally involves three steps: how they realize they have a need, research possible services and make a buying decision. The map also includes how customers might navigate through a company’s website or mobile app, or what might happen when they visit a branch or reach out to the call center. It can also show how banks respond to customer requests, the documentation they’d need to supply and the approval process to open new accounts, loans or investment accounts.

But that’s not all. A good customer journey map also considers what happens after the purchase and points the way to customer follow-ups, marketing efforts and opportunities to solicit more business down the road.

Customer journey maps are important for banks’ success. And clearly, there’s room to grow. The latest BAI Banking Outlook data shows that two thirds of financial services organizations “sometimes” or “infrequently” use customer data in a way that allows them to better serve customer needs. And nearly half—46 percent—reported that they could make better use of data about customers to improve product and service recommendations.

And for the huge amount of customer data banks hold, it’s clear most institutions aren’t fully leveraging it. When asked if it was easier to build and retain customer relationships in a digital era, 42 percent disagreed and 33 percent couldn’t say one way or the other, according to BAI Banking Outlook findings.

Still there is good news for 2019. If banks have the data, customer journey mapping gives them a clear way to put it to good use. It has exciting potential because a bank that invests in journey mapping can create a stronger, richer, more rewarding experience. That’s especially important in today’s omnichannel world in which a customer reasonably expects that using an app or website should be as easy and personal as walking into a branch.

Here are four things banks should consider when creating their customer journey map:

Think about how to get on a new customer’s radar screen

Unfortunately, new clients won’t conveniently stand in front of a bank branch when they realize they need a new loan, savings account or investment advice. A journey map should start with the customer identifying his or her need, and then doing some research to find an attractive solution. That includes word of mouth, information from social media and online reviews. Make sure your organization is visible during that process with targeted marketing efforts, including a dynamic SEO and SEM strategy.

Identify the pain points and remove the friction

Amazon is wildly popular because it does a great job of removing friction from the buying process. Its website suggests possible items for you based on your browsing history and previous queries, and now it’s opening revolutionary Amazon Go stores in which customer with can just sign on to an app, walk in, pick products off the shelf and leave without interacting with a cashier. That’s about as frictionless as it gets.

Customers today expect seamless, personalized experiences across industries. A customer journey map can help a bank discover where  pain points occur on a customer’s path: whether with a clumsy web portal that doesn’t allow account openings, excessive call center wait times or an unacceptable lag from loan application to approval. Customers forced to jump through lots of hoops to do something that should be simple rarely remain happy or loyal.

Use life events to your advantage

Banks possess a treasure trove of information about customers. They know how much money a customer makes and spends, how much they save, how they invest and where they live. And often, banks also know what kind of cars their customers drive and whether they buy or rent their homes.

Banks can create and use smart marketing techniques to touch their customers at those important life events such as when they get a bonus or inheritance, start a new job or make a major purchase. That way, they can recommend products and services selectively at a time when a person most needs them. A customer journey map can help identify how a bank can harness its data most to trigger a conversation—bringing the customer something they need at the right place and time.

Talk to your customers

It’s hard to know what your customers want unless you ask. BAI Banking Outlook findings show that 38 percent want to customize their own solutions, and in an “anytime-anywhere” digital world they expect more useful, real-time messaging and content to meet their day-to-day banking needs. What might seem purely transactional today is in fact largely relational, based on banks knowing what customers need and how to give it to them at the speed of life.

“One of the tremendous opportunities associated with brick-and-mortar banks is to have real-world interactions with potential and established customers,” says Mark Hamrick , Washington bureau chief and senior economic analyst at Bankrate .

Hamrick stresses that “a great deal of information can be gleaned from individuals who are willing to share whether they’re interested in or in need of any number of financial products, such as for savings, borrowing or investing. Many customers are likely to add a new product or service with an enterprise or institution where they’re already a customer.” Also important:  “The cost of acquisition is lower for the incumbent business, which makes it a true win-win.”

Banks that invest in customer journey mapping will position themselves to attract new customers and retain their existing business. It’s a powerful tool to help our industry deepen its relationship with our customers by providing great content and services at exactly the right time in our customers’ lives. The better we map their journeys, the more we can help them navigate the road to financial success and happiness.

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Holly Hughes is the chief marketing officer for BAI.

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Navigating a Customer Journey Map in Banking: Identifying Pain Points and Opportunities

The banking sector, in its tireless search for operational excellence and customer satisfaction, is facing a formidable challenge: unraveling the complex paths of the Customer Journey Map in Banking. This journey, filled with ever-evolving expectations and needs, demands meticulous attention to the pain points that can divert or even stop the flow of a positive customer experience.

Customer journey mapping is not just a theoretical exercise, but a strategic initiative that can illuminate the path to a stronger and more committed relationship with the customer. By identifying and transforming pain points into pleasure points, banks can not only improve the customer experience, but also secure their position in an increasingly competitive and phygital   market.

The Customer Journey Map in Banking: Key Tool for growth

Before diving into the turbulent waters of customer experience, it is essential to have a compass: the customer journey map. This critical tool allows financial institutions to visualize every step a customer takes in their interaction with the bank, from opening an account to resolving a dispute. By mapping these processes, banks can identify not only where obstacles are located, but also how and when they occur, allowing for a precise and adjusted response.

Identifying Predominant Pain Points

• Disjointed Experiences: Despite digital convergence, customers often encounter barriers when moving from one channel to another, resulting in a fragmented experience that diminishes perceptions of efficiency and customer service.
• Archaic Authentication Processes: Identity verification is vital, but outdated or redundant methods can frustrate users, encouraging them to search for more agile alternatives .
• Reactive Customer Service: In a world where anticipation is synonymous with care, banking often falls behind, reacting to problems instead of preventing them with proactive and personalized service.

Exploiting Opportunities: From Pain Points to Pleasure Points

• Articulated Experiences and Fluid Interconnection: Adopting platforms and solutions that ensure a seamless transition between channels , banks can increase customer convenience and satisfaction, while strengthening customer loyalty.
• Modern and Secure Authentication: By implementing biometric and behavioral authentication technologies, banks can offer security without sacrificing ease of use.
• Proactive Service: Through predictive analytics and personalization, banks can anticipate customer needs and offer solutions before the user is aware of the problem.

Going deeper into the Transformation of the Customer Journey in Banking

Detailed customer journey mapping is just the beginning; The real magic happens when banks embark on the journey of transforming these maps into frictionless, memorable experiences. This analysis focuses on how banks can turn challenges into strategic wins.

From Frustration to Ease: Simplifying Interaction

Customer-Centric User Interface: Banks must invest in designing interfaces that are not only aesthetically pleasing, but, more importantly, intuitive and easy to navigate. A user-centric interface minimizes confusion and maximizes efficiency, leading to an increase in customer satisfaction and retention.

Optimization of Processes and Response Times: The digitization of processes must go beyond the migration of paper forms to screens. Banks must rethink and optimize every process to ensure quick responses and timely resolutions to customer queries and issues.

Building Bridges in Omnichannel

Channel and Data Integration: True omnichannel requires banks to break down information silos. Integrating data across channels enables a unified view of the customer, enabling more consistent and personalized interactions.

Consistency in Communication: Constant and consistent communication at all touch points reinforces the brand and customer trust. Every interaction should reflect the bank’s values ​​and message, regardless of the channel.

Safety and Accessibility: The Dynamic Duo

Balance between Security and User Experience: Banks must find the balance point where information security does not compromise the user experience. Implementing advanced authentication systems that are robust yet discreet may be the key.

Transparency in Security Practices: Informing customers about how their data is protected not only increases transparency but also trust. A clear and effectively communicated security policy can be a competitive differentiator.

Transforming Theory into Action: Case Studies and Strategies in the Banking Customer Journey

With customer journey mapping outlined, it is critical to examine how banks can apply these maps to orchestrate meaningful and positive changes to the customer experience. Through concrete case studies, we can illustrate how theory translates into successful banking practices.

Success Stories: Innovation in Practice

Banks that have Redefined Welcome: Some financial institutions have managed to transform the onboarding experience of new customers by drastically reducing the time it takes to open an account, thanks to the implementation of digital verification and the use of e-signatures . This change not only improves efficiency but also drives customer satisfaction from the first contact.

Omnichannel Made Real: There are examples of banks that, by integrating their customer service services into a omnichannel platform , have provided a seamless experience, allowing customers to resume a conversation at any touchpoint, whether online, through a mobile device, or in person, without having to repeat information.

Personalization in Action: Some banking entities have made progress in the use of data analytics to personalize offers and communications. By analyzing customer behavior and preferences, they have been able to offer tailored products and services that meet individual needs and encourage greater loyalty.

Example of Customer Journey Map in Banking: Savings Account Opening

Designing a complete and detailed customer journey map can be an extensive process, but here is a simplified example of what a customer experience map might look like for a typical banking process, such as opening a savings account. This map is a general framework that can be deepened and expanded according to the bank’s specific needs and customer feedback. The key is to constantly iterate, using real data and feedback to refine each stage of the customer journey.

Conclusion: The Banking of the Future Forged on the Paths of the Present

The customer journey in banking is a microcosm of the human experience, reflecting the complexities and aspirations of customers who seek simplicity, security and recognition in their financial interactions. Banks that commit to understanding and improving this journey are investing in the most valuable capital of the modern era: customer trust and loyalty.

By systematically identifying and addressing pain points in the customer journey, banks not only elevate their service; They create financial ecosystems where clients feel understood and valued. Implementing strategies focused on personalization, omnichannel, and technological innovation is not only a response to a market imperative, but also a commitment to growth and adaptability.

The conclusion is clear: long-term success in banking is built on exceptional customer experiences, meticulously designed through mapping and reinventing the customer journey. It is a continuous process of evolution, where every feedback and every interaction is an opportunity to learn and improve. Those banks that remain diligent, dynamic and determined in this endeavor will not only prosper, but will also become beacons of innovation and role models in the financial industry.

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Hands on customer journey maps modeling

Customer journey maps are high-level, intuitively readable diagrams that focus on the customer experience instead of internal processes. They enable organizations to better understand customer needs, expectations, and concerns.

While our customer journey mapping overview describes the purpose of customer journey maps in greater detail, this blog post walks you through a hands-on tutorial on how to create customer journey maps and how to integrate them into your process landscape.

'Mapping' vs. 'Modeling'

You'll see the terms customer journey 'mapping' and 'map' used throughout this post, in order to ensure consistency. In fact, the terms customer journey 'map' and 'model' are often used interchangeably. However, there is a difference!

The difference between an isometric customer journey map and a tabular customer journey model is like the difference between a hand-drawn map and a modern GPS app: they both get you to where you’re going but one offers better functionality, including giving the user much more information. A tabular customer journey model offers a richer picture of where customers are along their journey, in particular by connecting customer experience data with process mining analysis.

If you are just beginning your work on investigating how customers interact with your organization's internal processes, this distinction will be largely academic. As you progress along the road to building exceptional customer experiences, however, the more sophisticated and data-rich customer journey models will become increasingly important.

Five steps towards customer experience-driven process management

Let’s assume we are a retail bank who provides loans to private customers. In rating portals, we typically score lower than our competition and our market share is constantly decreasing. Improving the customer experience can help us to regain our lost market leader position. Consequently, we want to map the loan application customer journey, optimize it, and reengineer our processes accordingly. To kick off our customer experience improvement initiative, we follow the following five-step approach.

1. A customer journey map starts with the customer: define a persona

Before we can start modeling the customer journey, we need to understand our customers. Personas are a widely adopted concept for breaking down quantitative customer data into customer archetypes that are easier to communicate and relate to. They also help considering ‘soft’ aspects like emotions and cultural preferences, which is imperative to avoid the misconception that humans always act rationally and purely according to their own economic interests. Because the characteristics of personas define their customer journeys, each customer journey map should have exactly one persona. This persona should represent a relevant customer segment, for example a group of customers your organization has problems retaining, or a new target group.

In SAP Signavio Process Manager, you can add the persona as a graphical element to your customer journey map and highlight key ideas, goals and demands as post-it style banners.

Hint: We recommend creating personas as dictionary items to facilitate re-use.

2. Map the ‘current state’ customer journey

Now, as we know who our customers are and what they want, we start mapping out the customer journey. Each customer journey is a sequence of the core elements steps, touchpoints and moments of truth.

• Steps are connected via simple lines and show the sequence of events at a high level. At each step, the customer interacts with your product or service, makes a decision, or encounters a challenge. Thereby, they are guided by their goals, fears, and emotions. These persona properties influence the customer experience and can be reinforced or smoothened by the quality of your product or service.
• Touchpoints represent steps where your customer comes into direct contact with your brand. Each touchpoint relates to at least one of your business processes and roles or IT systems.
• Moments of truth are key decision points that can make or break your business’ chance for succeeding with the customer. They are either barriers (requiring customer empowerment) or signposts (requiring a customer decision).

You can find an overview of all customer journey map elements available in SAP Signavio Process Manager in our CJM user guide . For a conceptual overview on customer journey maps, read our whitepaper What is a Customer Journey Map and Why Do You Need One?

In our example scenario, the persona is a busy digital native, who is irritated that our business doesn’t go the extra mile to make his path to a home loan as smooth as possible. An in-person appointment is necessary even to simply figure out the exact loan conditions. If we’re the ones who want his money (in the form of interest rates), why do we make it so hard for him to consume our services?

3. Integrate the customer journey into your process landscape documentation

Understanding the relation between customer experience and our organization’s operations requires documenting how the customer journey relates to our business processes. That’s why we integrate the newly created customer journey map into our process landscape. For each touchpoint, we create a reference to the involved business process and the human role or IT system that is the customer interface. The goal is to model all touchpoints explicitly, so we can later see how changing the customer journey affects our business process landscape.

The references between customer journey map and process landscape also help on the operational level. When a caseworker - for example a sales representative - reads the business process documentation he or she has access to an overview of relevant customer journey maps, which facilitate a better understanding of customer motivation and emotions.

4. Adjust customer journey map to optimize customer experience

Our current state customer map clearly identifies weaknesses in the way customers experience our loan application process offers. In our example scenario, it is clear our service no longer lives up to our customers’ expectations. This conclusion informs our improvement initiative. Consequently, we remodel the customer journey map considering the possibilities the digital world offers.

When creating a future state customer journey map, we recommend following these two steps:

• Start with the ideal customer journey. Disregard internal stakeholders and try to get feedback from actual consumers instead.
• Adjust the customer journey map to fulfill necessary conditions (like laws and regulations) and to allow for organizational limitations you can’t possibly change. Doing so allows you to minimize the compromises you need to make in terms of customer experience.

5. Derive future state processes

In our future state customer journey map, we again identify touchpoints with our business process landscape. We can compare these touchpoints to the ones we identified in our current state customer journey. From the result of the comparison, we can then derive a set of action items that form the basis of our future state process landscape. The scope of the required business process re-engineering strongly depends on the use case. In our example, a major digital transformation initiative is necessary to move towards the aspired future state customer journey.

Conclusion: Customer experience-driven process management

Customer journey maps provide you with the customer’s perspective on your business process landscape. By creating a customer journey map of your products and service and optimizing the map’s customer experience, you create the basis for optimizing your organization towards what matters most: providing the best possible customer experience.

Get started with customer journey modeling today by registering for a 30-day free trial of SAP Signavio Process Manager.

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The definitive 8-step customer journey mapping process

In business, as in life, it's the customer's journey that makes the company's destination worth all the trouble. No customer wants to jump through several different hoops to get to your product: they want it fast and they want it now.

Following certain customer journey mapping stages helps you improve your user's experience (UX) to create a product they love interacting with, ensures you stay ahead of key workflow tasks, and keeps stakeholders aligned. But a misaligned map can derail your plans—leading to dissatisfied users who don’t stick around long enough to convert or become loyal customers.

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This article walks you through the eight key stages of great customer journey mapping, and shows you how to adapt each to your unique business and product to optimize the customer experience from start to finish. 

Learn how customers interact with your product and website

Hotjar's Observe and Ask tools let you go ‘behind the scenes’ to understand your users’ product experiences and improve their customer journey.

An 8-step process for effective customer journey mapping

A customer journey map is a visualization of every point of interaction a user has with your company and product.

Mapping out the customer journey gives you insights into your buyers’ behavior to help you make changes that improve your website and the user flow between touchpoints. This helps you increase online sales and turn users into loyal customers and brand advocates.

Follow these eight proven steps to understand—and enhance—the customer experience.

Note: every business is distinct, so be sure to adapt these steps to your particular user and business needs. 

1. Define your purpose

The first step to creating a successful customer journey map is to define your product's vision or purpose. Without a clear purpose, your actions will be misguided and you won’t know what you want users to achieve during their journey on your website, product page, or web app. 

To define your purpose, consider your company’s mission statement and incorporate your specific user pain points as much as possible. 

Make your purpose specific to your company’s needs and goals—for example, the purpose of an ecommerce brand looking to help users navigate several different products and make multiple purchases will differ from that of a SaaS company selling subscriptions for one core product.

2. Make sure your team is aligned and roles are clear

Cross-functional collaboration is essential when mapping out your brand's or product’s user journey. Get insights from different teams within your organization to find out exactly how users engage with key touchpoints to derive a holistic sense of the user experience (UX), which will help you improve every aspect of the customer experience.

Lisa Schuck , marketing lead at Airship , emphasizes the importance of keeping “anybody that has a touchpoint with a customer” involved. She advises teams to “figure out how to align your external marketing and sales with your internal operations and service.”

Although sales, product, and marketing departments are often the key players in customer journey mapping, also involve your operations and design teams that are responsible for creating the user flow. 

If you have a SaaS company, for example, marketing creatives, sales teams, product owners and designers, and your customer experience department all need to participate in the process. Clearly define who’s responsible for different aspects of the map, and regularly check in to make sure your final map isn’t missing any important perspectives.

Pro tip: use Hotjar's Highlights feature to collect and organize key product experience (PX) insights and data on user behavior from teams across your organization to help you build your customer journey map. Then use Hotjar’s Slack integration to quickly share learnings with your relevant stakeholders to get buy-in and ensure everyone is aligned.

Hotjar’s Slack integration Slack lets teams discuss insights in the moment, so they’re up to date with critical issues 

3. Create user personas

Once you’ve defined your purpose and involved all relevant stakeholders, it’s time to design your user personas . Use resources like UXPressia and HubSpot’s Make My Persona tool to help you design various product personas . 

Create a range of user personas to understand what each type of buyer needs to curate a journey that’s easy and enjoyable for every customer. This is an important early step in the customer journey mapping process—because if you don’t understand your users, you won’t be able to fully comprehend how they interact with your brand to better it.

Create user personas for all your product’s possible buyers—for example, to map out a B2B customer journey for a company in the hospitality business means developing personas for a range of different customers, from large chain hotel managers to small vacation rental owners. 

4. Understand your user goals

Once you’ve designed your user personas, it’s time to define their jobs to be done . What do your users hope to accomplish when they search for your product or service? What do they want to do when they click on your website? Address and answer these questions to build a deep understanding of your users’ goals and pain points to inform your customer journey.

In a SaaS customer journey , perhaps users are looking for helpful comparisons of product features on your website, or want to easily sign up for a trial account in the hopes that your product will solve their problems. But you won’t know until you ask . 

Once you have users or test users, get direct insights from them with Hotjar's Feedback tools and Surveys to ask buyers exactly what their goals are as they browse different pages of your website or interact with product features.

Since user goals are at the center of your customer journey map, define them early on—but keep speaking to your users throughout the entire process to make sure you’re up to date with their needs.

5. Identify customer touchpoints

After you understand your users and what their goals are, it’s time to identify the ways they interact with your company and your product. 

"Touchpoints are the moments the customer interacts with your brand, be it through social media channels, your product, or customer support. The quality of these experiences affects the overall customer experience, which is why it’s important to be aware of them. Consider what happens before, during, and after a customer makes a purchase or uses your product."

Key customer journey touchpoints for a website or product include your homepage, landing pages, product pages, CTA buttons, sign-up forms, social media accounts, and paid ads. 

Collaboration is key to identifying touchpoints throughout the entire customer journey. Include insights from different teams and stakeholders —your marketing and sales teams will have a strong understanding of the touchpoints involved pre-purchase, while the customer experience department can shed light on post-purchase touchpoints. 

Post-purchase touchpoints can help turn users into loyal customers and even advocates for your brand. 

In the words of Lisa Schuck, "When you create a raving fan, or a brand advocate, who goes out and tells the world how wonderful you are, you get social credibility and validity. It’s becoming more and more important to have advocates."

Pro tip : speak with your users regularly to get direct voice-of-the-customer (VoC) insights on what they love and what frustrates them on their journey. Place Hotjar Feedback widgets and Surveys at key website touchpoints like your homepage and landing pages to get valuable user insights on what you can improve. Use Hotjar’s survey templates to get inspiration for your survey questions. 

An example of an on-site Hotjar Survey

6. Map out the customer journey

Once your user and product research are complete and all roles are distributed, it’s time to map out the full customer journey.

First, map out an overarching customer journey by putting your key touchpoints in order and identifying how your various user personas interact with them. Then, home in on the details, looking at how customers engage with specific aspects of your website, product, or social media accounts. 

Breaking down the mapping process into smaller phases will ensure you don’t miss any key interactions. 

Here’s how an ecommerce brand could lay out general touchpoints, then narrow each down into more specific actions:

Pro tip : it’s helpful to think of the user journey in terms of different functions when mapping it out, like:

Connect: how are buyers connecting with your brand?

Attract: how are you convincing them to convert?

Serve: how are you serving customers when they want to purchase?

Retain: how are you promoting brand advocacy and customer retention ?

7. Test the customer journey

Once you’ve mapped out the customer journey, it’s time to take it for a spin. You can’t understand how your users move through customer touchpoints unless you test out the user flow yourself. 

Start with an informational Google search, then visit your website, check out your social media pages, and simulate the purchase process. This will help you get a better sense of how users interact with each touchpoint and how easy it is to move between them. 

Be sure to try out the journey from the standpoint of every relevant user persona. For an enterprise software company, this could mean looking at how decision-makers move through the user flow vs. the employees who’ll use your software day to day. 

By walking through the customer journey yourself, you can identify issues and difficulties that users may have to address them proactively. 

Try out the user flow with test users to get a realistic perspective of the user experience. Be sure to use focus groups that represent every one of your user personas. 

8. Use continuous research to refine your map 

Continuously map out, analyze, and evaluate the customer journey by observing users and getting their feedback. Hotjar Heatmaps and Recordings help you understand how your users are experiencing the customer journey on your website: create heatmaps to see whether users are clicking on CTAs or key buttons, and watch recordings to find out how they navigate once they reach your homepage.

Then, use Google Analytics to get an overview of your website traffic and understand how customers from different channels move through the user journey. 

Finally, once you have these combined user insights, use them to make changes on your website and create a user journey that is more intuitive and enjoyable.

Pitfalls to avoid during the customer journey mapping stages

Jamie Irwin , director & search marketing expert at Straight Up Search , says companies should avoid these three common mistakes when mapping out the customer journey:

Don't map out the entire customer journey at once

Don't forget about the ‘hidden journeys’

Don't make assumptions about customer behavior

To sidestep these common pitfalls: 

Start by mapping out the overall journey, and only drill down into more detail once you have a broader, higher-level overview of the customer journey

Factor in every way that customers interact with your brand, even the ones you don’t have as much visibility on, like ‘dark social’ communications about your brand shared in private channels. Talk to your users to find out what they’ve heard about your brand outside of public channels , and use sticky share buttons to keep track of when your content’s shared through email or social media messengers.

Take a data-informed approach: don’t assume you already know your users —test out your hypotheses with real users and qualitative and quantitative data. 

Follow proven steps to successfully map out the customer journey 

Take the time to understand your business goals and users, involve the right teams, and test frequently to consistently improve your customer journey and make the decisions that will help you map out an experience that will get you happy and loyal customers.

FAQs about customer journey mapping stages

What is the purpose of customer journey mapping.

Customer journey mapping helps you visualize how users interact with your business and product, from the moment they find it until long after they make their first purchase. 

The purpose of customer journey mapping is to gain insights into the buyer's journey to create a more enjoyable, streamlined, and intuitive experience for your customers.

What are the benefits of following a customer journey mapping process?

The main benefits of a customer journey mapping process are: : 

Building on tried-and-tested processes

Not missing any key steps

Considering all buyer personas

Keeping all relevant stakeholders involved

Creating a valuable customer journey map 

Improving user experience

What happens if you don’t follow key steps in customer journey mapping?

If you don’t follow key steps when mapping out the customer journey, your map likely won’t give you the insights you need to enhance the experience users have with your most important touchpoints —like your homepage, landing pages, CTAs, and product pages. 

This can result in high bounce rates, low conversion, and unsatisfied users who fail to become loyal customers.

CJM benefits

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Customer Journey Mapping template

Improve payment experiences and position yourself far above your competitors. Start harnessing customer journey mapping.

Why customer journey mapping is essential in FinTech

Every business has a sales funnel, and they know customers can and do drop off at any given stage. Customer journey mapping (CJM), in short, is about understanding customer experience. It digs deep on the multiple touchpoints within a product or service and helps identify opportunities to improve product quality and increase conversions. 

No matter how excellent, state of the art or affordable your product is (and this is true for all industries), your customers' mindsets, feelings and overall satisfaction through every step of the journey involving your product will directly contribute to your overall success. 

Nonetheless, the FinTech industry does have unique challenges that can make it more difficult to create the ideal customer experience. Regulations like MiFID II require that companies add additional steps, questions and other forms of complexity into their journeys before users can sign up for accounts or new services. 

At Star, however, we see these regulations as an opportunity, not an obstacle. The whole purpose of MiFID and the emergence of FinTech laws worldwide is to protect, educate and provide transparency to the end consumer. Use these regulations as the guidebook that they’re intended to be. This will help you deliver a seamless, user-centric and compliant experience, your product will stand out from the competition immediately. 

Understanding what your customers really want and need  

At Star FinTech , our goal is to create a seamless end-to-end customer experience that provides value and serves their needs better than other similar products or services. This starts by thinking holistically and taking a design-driven approach . We begin by researching existing customer profiles and discovering their jobs-to-be-done and pain points they experience throughout the journey to reach their goals. 

Pain points extend beyond usability issues. They can also include time and financial costs, particularly those beyond the expected cost of a service. For example, if a customer wants to use a BNPL service, but it experiences frequent bugs on its mobile checkout processor or transparent information is missing on an installment payment, then they might be forced to use a credit card and pay high-interest fees instead. 

With customer journey optimization, you better understand your customers' challenges and activities through your products. This enables all business stakeholders to align on feature gaps, opportunities and a shared vision to focus on before investing in solution creation.

Overall, the best thing about CJM is that it’s a team activity. Through this process, we ultimately end up with a unified vision we can use to convince stakeholders and gain buy-in within the organization. 

Customer journey mapping in action

Customer journey maps are made of standardized elements, which enable us to use a straightforward approach in building one. You start creating them by harnessing the research gathered in earlier stages such as stakeholder interviews, UX research and other key stages. This allows you to begin building your template.

The first step for streamlining payment user flow is to take advantage of what you already know. Start with your existing product ecosystem. Most finance companies have a lot of data they can harness to create an assumption-first approach. This will help you get started on your customer journey hypothesis map.

The next scalable step is interacting with teams who have in-depth and specific knowledge of your customers (e.g. customer service representatives or marketing team). This larger team involvement would help you review your hypothesis map with a more realistic view of your key customer profiles.

Finally, we conduct user interviews and get the complete picture of your journey maps and create personas.

The most important part of the process is then understanding touchpoints, where drop-off occurs and how we can get people to re-engage and finish an experience. 

For FinTech and digital finance experiences, the biggest priority is seamlessness and figuring out what we can do to make things faster, simpler and stress-free for our customers, while still adhering to financial institutional security and regulation standards. 

How to create a customer journey map tailor-made for digital finance  

So far, what we've discussed could apply to virtually any product or service. This is the universality of CJM as part of the ' Empathy' phase of the Design Thinking process.

But since it’s especially important in the FinTech ecosystem and for checkout payment optimization, we’ve tailored the steps accordingly around key regulatory requirements and unique user needs such as increased data privacy and security .

1. Set the objectives of your map

Your customer payment experience should be inclusive, involving stakeholders who bring business goals and knowledge of your product's customers in focus.

Before initiating research, identify the purpose of your map and how you’ll use it within your organization. 

The key questions you could brainstorm with your team include:

• Which business goals will this journey map support?
• Which product challenges or assumptions would you want to learn more about?
• Who will be the audience of the customer journey map within your organization, and how will you present the map in such a way that it resonates with them.

These questions will start pointing you in the right direction.

2. Profile and highlight your target customer persona

One of the biggest challenges in FinTech is trust. How you can craft trust-driven and engaging experiences? At Star FinTech, we've found it's useful to create initial personas to ensure every aspect of your customer journey map points back to them.

This is when you begin to gather the key user data you really need. To run an agile and scalable qualitative user research process, apply several UX methods, harness existing datasets, while also working directly with our partner’s key customer-facing team members and end customers themselves — because who better can tell about the customers? 

Through user interviews, for example, you’ll begin to understand what people are looking for in terms of experience. Creating a journey map for each persona will then help you understand differences or similarities across their journeys and leverage synergies in the most effective way possible.

Today’s leading buy now, pay later companies like Klarna , Paidy and Afterpay are 100% digital and concentrate on consumers like Hiroshi. Focusing on what wins them over, especially simplicity, ease of use and transparency are thus essential. Always be optimizing your online consumer payment journey. 

3. Locate and list your touchpoints  

Digital brands have numerous touchpoints that can include:

• Mobile apps
• Live streaming platforms 
• Social channels
• Transactional emails and marketing emails
• Third-party sites such as news, media or reviews
• Traditional media such as TV and newspapers

Being able to track activity across all these different touchpoints is critical. It gives you insights into the actions customers are taking. For example, if you see too many touchpoints in your CJM, you may have a serious problem. Overly complicated user journeys can harm your customer satisfaction by making it difficult for them just to make a purchase.

Likewise, if you use too few, customers may be getting lost along the way and be lured by competitors. Worst of all, you may lose existing customers satisfied with your product’s ecosystem or miss your opportunity to gain new customers.

Digital finance companies need to pay particular attention to customers' actions or steps throughout their journeys. As much as possible, you want to reduce the number of steps in their journey. You do this by listing all possible touchpoints between the users and your services in a timeline format on a customer journey map. 

With this, you can better envision your multiple touchpoints as interconnected elements, understand your customers' potential problems and challenges and improve your ideas.

4. Identify and erase any obstacles in your way

Consumer pain points kill sales. That’s why you need CJM to understand what your users are thinking and feeling. Most importantly, it shows you what’s preventing action.  

Referring back to our main subject, BNPL, some consumers still may not be comfortable with it and maintain credit card or cash usage. With CJM you can understand why. The obstacle here is maybe a lack of education or transparency on the direct benefits of buy now, pay later service offerings. Whatever it is, you have a better insight into your consumer.

BNPL providers must work with merchants to provide simple, clear explanations of their services and how using them will help augment their sales.

5. Evaluate results and make changes

After you’ve created your customer journey map comes the important part. It’s time to take the journey for yourself!

This is one of the biggest advantages of CJM. Instead of blindly guessing how your consumers might react, you have data that’s tied directly to the user experience based on your own. This is where you can address your customers’ pain points and plug gaps accordingly.  

And this is the most important advice: your customer journey map is always a work-in-progress . So review it often to identify further opportunities for product enhancements, understand changes in the landscape or eliminate roadblocks that may have started appearing.

Putting CJM to work for a globally leading buy now, pay later company  

Our client is a leading buy now, pay later provider in the APAC market. They enable consumers to pay at online stores using only their name and email address without a credit card or pre-registration. Each month, the consumer pays for the items purchased in one consolidated bill.

To do so, the company uses proprietary technology to score creditworthiness, underwrite transactions, and guarantee payment to merchants.

This is especially in their local market since many local consumers prefer not to use credit cards for online payments. So, our client's technology helps vendors increase conversion rates, average order values and repeat purchases.

So what’s the problem? Rapid growth (which presents its own challenges) and the rise of new market entrants. For this reason, they turned to Star for design support to improve their current email communication and marketing up-sell designs.

Understanding the client’s existing solution

When we started working with the client, they already had their ecosystem of products and services centered on an independent checkout flow and a mobile app.

In their checkout flow, end customers (including entirely new customers) could choose our BNPL client as a payment method and simply put in their phone number and email address to go through instant eKYC . With their service, end customers could literally buy the goods now and pay without any additional fee. This quick eKYC was a big perk for their target audience, who are averse to credit card transactions. 

Their second offering is their mobile app. Before working with Star, the client's mobile app offered transparency by showing the users’ shopping budget and ease of payment of outstanding bills through direct debit and payment schedules. This was a serious advantage, but we knew we could do more with it.

Our approach to customer experience optimization: competitor and future-state journey maps

So far so good. However, while the client had a strong offering, they were facing challenges from new market entrants. So, they approached us to conduct a service gap analysis of their existing products ecosystem and an in-depth study of three (Afterpay, Klarna, Affirm) top competitors in the BNPL arena. 

Our approach to payment UX design focuses on four vital areas: 

1. Competitors analysis  

We provided in-depth research documentation on these competitors and helped analyze brand and feature gaps our client was missing. Here we identified where the competitors are falling short and what areas of opportunities our client could leverage in their respective e-commerce market.

2. Creating journey maps for all three competitors

We detailed the entire consumer journey, including browsing/shopping, purchasing and decision-making, checkout, receiving goods, returning goods and payment and created user journey maps. These maps served as a benchmark to measure their existing product ecosystem against the major competitors. 

3. Modeling a future-state journey map  

We had an ambitious timeline for the project, so it made more sense to align all stakeholders and project team by mapping with as much existing knowledge as possible and then validating it afterward. This is what we call an assumption-first approach . 

To compare with the competitors’ journey maps, we decided to create a future-state journey map for our client. Future-state journey maps visualize the improved or best case journey for customers, a journey that doesn’t currently exist yet and serves as the product vision. We started with stakeholder interviews and workshops involving cross-functional teams to create proto-personas and hypothesize customer journey maps and checkout payment design.

In the end, our goal with these competitors' analyses and future-state journey mapping was to plan a new and scalable enhanced product experience that would help our client win new customers and stay strong in their markets.

4. Project outcome and looking forward

With their rapid growth and gap analysis of competitions looming in their market, we saw the importance for our client to go beyond BNPL services and cover the entire user journey of a customer’s shopping experience. 

We formed a product vision where their mobile app would enable customers to get inspired by seasonal shopping trends and brand-specific discounts. They’d also be able to search for goods from within the app, which previously only featured budgeting and payment capabilities. 

The next step we took was fleshing out the product vision into an MVP and product development plan. Our plan was to launch the first version of a custom shopping inspiration and product search within three months. Within six months, we’d also further expand the experience through smart search and wishlists. 

In short, everything in our MVP was centered on scalable product development. These new features complemented their existing solution and added new value without sacrificing the ease of the consumer journey and their core offering. 

To continue their blistering growth, our client also aimed at expanding their brand and offerings to other Asian countries using our customer-first approach. This will be essential for them to identify and design for the unique elements of these new markets accordingly.

Get essential customer insights with our CJM template  

Are you looking for actionable insights to harness your customer journey mapping? Download our ready-to-use roadmap template to turn insights into practice and apply this UX method to your projects.

Customer journey mapping is just one of the many user-centric tools Star’s design-driven FinTech team puts to work to help our clients accelerate their growth. Get more insights into the value a partnership with us will bring your company. Check out our full FinTech offering now. 

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What Is a Customer Journey Map?

[This is the first in a series of three articles on customer journey maps: what they are, how to read them , and how to use them to improve your customers’ experiences.]

In the first few months of our work with the U.S. Department of Agriculture (USDA), we started working with the Farm Service Agency (FSA) to better understand and improve the direct farm loan experience. A key document from that research was a customer journey map showing a typical farm loan experience from the viewpoints of both a loan applicant (a producer like a new farmer or rancher) and an FSA loan officer.

With the help of the journey map and accompanying research, the Customer Experience Center of Excellence (CX CoE) team was able to identify potential improvements that both producers and loan officers gave high priority—things like simplifying and pre-populating forms and adding online features (without detracting from highly valued face-to-face interactions). But how did the journey map contribute to those findings? How can you read a journey map to help reveal potential improvements?

Direct Farm Loans Customer Journey Map

As you can see, a journey map can be complex. If you’re unfamiliar with the format, it can be overwhelming at first glance. Here are some tips on how to read and use a customer journey map like a skilled Customer Experience (CX) practitioner.

What Is a Journey Map?

First, a journey map is a visual tool to help you better understand your customer’s experience. This allows you to make better decisions and build more effective solutions to fulfill their needs.

Journey maps give you an overview of your customers, from start to finish as they use your product or service. They include information about:

• The different steps a customer must go through (including official processes, workarounds, and additional incidental steps)
• Specific actions and decisions they must make
• Touchpoints, or ways customers interact with your people and systems (like through in-person meetings, emails, website content, or phone calls)
• Importantly, the emotions (both positive and negative) that they feel throughout the journey

The goal of a journey map is to give team members a common, research-based view of what the customer is trying to do, what they’re going through, and how they’re feeling. This view of the customer grounds the team in the human challenges they need to solve.

How Do You Make a Journey Map?

Before you can make a journey map, you have to do your homework, including doing desk research on business needs, systems, and customers; creating draft personas (generalized profiles of key customers) to represent who you’re designing solutions for; and immersing yourself with your customers and stakeholders in field interviews and observations. (Depending on the scope of your project, the research phase can last days, weeks, or sometimes a few months, but you should avoid never-ending research.) You’ll then work to organize and analyze your research to uncover patterns, trends, and insights. (See the Journey Map Process we used in Phase 1.)

Then, the team will work to translate those insights into a visual map, refining, and iterating to develop something that’s both a process diagram and a record of your stakeholders’ and customers’ emotional states.

There’s no single format for a journey map; they’ll be different based on the complexity of the process you’re looking at, as well as many other factors. A few considerations when making journey maps:

• They should be as simple as possible, while still conveying all the required information
• Journey maps can’t cover every customer type; instead, your journey map will represent a generalized experience of one type of key customer, based on your research (If you need to, you can make multiple journey maps.)
• They’re arranged chronologically (usually from left to right) with the individual steps grouped into phases (though sometimes the boundaries between phases can blur together)
• Journey maps present multiple dimensions of data (like touchpoints, actions, and emotions), displayed using an information hierarchy

After you create your journey map, you should validate it by showing it to people familiar with the process, including members of your key customer group.

In our next article, we’ll show you how you read a journey map, and how you can use that information to guide your efforts.

More CX Posts