Why Explainer Videos Are Vital for Modern Banking and Financial Services

Banking and financial services can become more exciting and understandable for customers if their journeys include watching fun animated explanatory videos. Read on to learn all the benefits of animation for financial institutions.

Why Explainer Videos Are Vital for Modern Banking and Financial Services 20
Illustration by Lily for Explain Ninja

Animation can serve as an excellent tool for communication between banks or financial institutions and their customers. Animated explainer videos for the financial industry can help people understand important information more easily without spending extra effort and time. It’s an excellent way to highlight essential information, make announcements, explain banking terms, and introduce new financial products and services. 

Instead of miles of text with policy, banks can offer their consumers a 1-minute explainer video that communicates everything necessary in a very digestible and fun format. In this article, we are considering the advantages of using explainer videos in banking and finance. Learn more about how your organization and your customers can benefit from creative animation.

Customer engagement

There is no big secret: animation drives incredible customer engagement since it reminds us of the past days of childhood full of fun, cartoons, and games. Animated videos evoke sweet nostalgia and often make us smile. Lovely characters, fantastic backgrounds, and imaginative worlds depicted in the animated movie bring some fresh air into the financial industry and help banks stand out from the competition. It allows companies to transfer information in a creative manner that really makes people want to learn more about financial services. 

Simplified presentation of information

Animated explainer videos allow breaking the information flow into different scenes and engaging scenarios. The human can perceive the message faster if it’s divided into portions and presented in a fun way. Banks can turn customer learning into entertainment with the help of animated videos that tell exciting stories which are close and familiar to all people within their target audience. Also, it’s a great idea to incorporate motion graphics into explainer videos to facilitate comprehension by using animated typography with key points of the message.  

Gamification of customer experience

Gamification has already become the buzzword in many industries, but not in banking. It’s another opportunity for financial organizations to be different in the market. They can leverage animation to gamify customer experience and add some fun to financial services. An animated video can serve as a kind of gamification. It doesn’t allow the customer to participate in the “game” directly, but it turns the overall process into a game-like experience. Actually, a few financial companies are using this approach today. Therefore, your organization can become the pioneer in the gamification of financial services.

Financial product marketing 

Have your bank launched a new financial product or service? Why not inform people about it through a short cartoon! Within just several minutes of animation, you can explain the main product idea, demonstrate product features, tell the audience how they can benefit from it and how they can access/purchase it. There is no need to send newsletters, publish lengthy articles on a blog, or train in-branch consultants to tell it during the meeting with the customer. Now, it can be easier. Banks can post an animated video with a new product offering on their website, embed it into a mobile banking app and show it on the monitors at a physical bank branch. 

Bank knowledge base

People often turn to the bank with many questions regarding financial services, mobile banking opportunities, special programs, perks, and so on. To assist consumers and unload a help desk, financial organizations can organize a knowledge base with simple animated how-tos and answers to the most frequent questions on a website. Customer service can become more efficient if it involves animated videos with all the necessary information. 

Explain your bank values and mission

Every bank has its mission, policy, and values that drive it. Do you want your customers to know about them? Your organization can present what it stands for in a short explanatory video and share it with your audience on social media, website, and other places on the web. Tell about your values in a video and let your customers connect with your company at a personal level.

The bottom line

An animation is a wonderful tool for audience engagement and customer loyalty. Banks, fintech companies and other financial institutions can use animated explanatory videos to add a human touch to their services and establish trust with their customers. It’s an excellent way to present new products and services, complicated information, financial data, banking terms, and concepts in a playful form that is easy to understand for everyone. 

Would you like to make an explainer video for your company? We are here to help you and navigate through an entire production process! Don’t hesitate to reach out to our consultants at [email protected].

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