By James Eliot, Markets & Finance Editor
Last updated: May 12, 2026

5 Interaction Models That Are Reshaping Financial Services in 2023

Over 80% of consumers prefer digital interaction channels for financial services, according to Forrester Research. This staggering statistic marks a pivotal shift away from traditional face-to-face engagements, compelling both established banks and fintechs to rethink their strategies around customer engagement. As these institutions move swiftly to adapt, they’re not just enhancing user experiences; they’re fundamentally redefining competitive advantage in an industry long shackled to legacy systems. This transformation echoes the impact seen in how Nullsoft’s disruption in 2004 changed the landscape, showcasing how innovation can redefine industry norms.

In a marketplace where consumer preferences are evolving, organizations must reassess their approach to interaction models—tools and strategies that dictate how financial services connect with customers. While many analysts fixate on the technological advancements such as AI or blockchain, they tend to overlook how these models are shifting the very foundations of customer engagement and loyalty. Here, we explore five interaction models that are influencing financial services in 2023 and their broader implications.

What Are Interaction Models?

Interaction models in financial services refer to the frameworks that dictate how institutions engage with their customers across various channels. Demonstrating significant importance now, these models shape the quality of user experience and dictate customer loyalty. Think of them like the architectural blueprints of a house—each design choice impacts how inhabitants (customers) experience their living space (the financial service), ultimately influencing their comfort and satisfaction.

These models are not merely technological novelties; they are strategic imperatives that can lead to enhanced ROI and stronger market positioning for financial institutions. Understanding these strategies can also provide insight into why major tech firms are ditching traditional manufacturing techniques to adapt to a changing landscape.

How Interaction Models Work in Practice

1. AI-Driven Chatbots at JP Morgan Chase
   The bank’s recent investments in AI-driven chatbots have yielded a remarkable reduction in customer service response times by 70%. By leveraging advanced natural language processing, customers interact seamlessly with the system, transcending traditional service limitations. The outcome is not merely faster service; it cultivates greater trust, essential for long-term customer loyalty.

2. Personalized Financial Advice at Goldman Sachs’ Marcus
   Goldman Sachs has effectively integrated personalized financial advice into the user interface of Marcus, its digital banking service. This change resulted in a 30% increase in user retention when compared to traditional banking models. The combination of data analytics and user-centric design not only enhances user competence but also fosters deeper connections between the consumer and the brand, a tactic reminiscent of how Trading MentorHub disrupts traditional education in finance.

3. Gamification of Trading at Robinhood
   Robinhood’s gamification approach has led to a staggering 250% increase in user engagement over the last two years. By incorporating game-like elements into their trading platform, they’ve successfully transformed a traditionally dry process into an interactive experience. This model particularly resonates with younger investors, illustrating how non-traditional engagement methods can disrupt established norms.

4. Omnichannel Strategies at Citi
   Citi’s deployment of omnichannel communication strategies has resulted in a 40% improvement in customer satisfaction metrics compared to the previous year. By creating a unified experience across various platforms, such as mobile, online, and in-branch, Citi effectively meets the diverse needs of its clients, resulting in enhanced engagement and overall satisfaction.

Top Tools and Solutions

The rise of digital interaction models necessitates advanced tools to streamline customer service and engagement.

Apollo — This AI-powered B2B lead scraper helps businesses acquire verified emails and implement effective email sequencing, ideal for companies prioritizing customer engagement.

Lusha — B2B contact data and sales intelligence platform providing accurate information to enhance customer outreach efficiently.

BlackboxAI — An AI coding assistant that streamlines development, making life easier for financial institutions looking to accelerate their tech initiatives.

CloudTalk — A cloud-based business phone system designed for improving communication, particularly in financial services where customer interactions are vital.

HighLevel — An all-in-one sales funnel, CRM, and automation platform that assists agencies in enhancing client relationships through integrated solutions.

GitLab’s recent overhaul also reflects the broader trends in how digital tools are reshaping the finance industry.

GetResponse