S&T Bank Amplifies Digital Innovation to Enhance Customer Experience Through Pandemic Crisis

Rhea-AI Summary

S&T Bancorp, Inc. (NASDAQ: STBA) has launched a new mobile-first website and digital sales tool named Merlin to enhance customer experience amid the COVID-19 pandemic. With branch visits declining, this initiative aims to facilitate digital transition for customers, catering to their unique financial needs. According to J.D. Power's 2020 study, successful adaptation to online services is critical for banks. Merlin offers a quick financial assessment and directs users to appropriate products, reflecting S&T's commitment to improving digital banking services.

Positive

• Launch of a mobile-first website enhances digital accessibility.
• Introduction of Merlin offers personalized financial guidance.
• Strategic investment in technology aims to improve customer experience.

Negative

• Increasing reliance on digital services due to declining branch visits may pose long-term customer engagement challenges.

INDIANA, Pa., Sept. 8, 2020 /PRNewswire/ -- S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), announces the launch of its new website built in a mobile-first, responsive design with easier navigation. S&T Bank has also introduced a one-of-a-kind digital online sales tool, Merlin.

According to the J.D. Power 2020 U.S. Retail Banking Satisfaction Study, "as the COVID-19 pandemic places constraints on in-person retail banking and forces customers to increase reliance on digital service channels, banks are facing an important test." The study highlights that "52% of retail bank customers classified as branch dependent before the COVID-19 pandemic, and successfully transitioning them to digital—without compromising customer experience—will be critical in the weeks and months ahead."

Due to the high demand for online and mobile digital services, S&T Bank's newest website and online sales tool, Merlin, is designed to adapt to customer's individual financial needs. "Our number one priority at S&T Bank is giving our customers the tools they need to meet their financial goals," said Dana Wysinger, chief marketing officer of S&T Bank. "With the pandemic accelerating the shift of consumer behavior from visiting a branch to online, we've made strategic investments in our technology and innovation to deliver a best-in-class digital banking experience for our customers." 

The new website contains relevant content, tips and tools to enable customers to become more self-sufficient and knowledgeable about their financial well-being. S&T Bank understands that their customers have unique financial needs that evolve over time, which is why the new website is designed to cater to individual needs—from saving for college to planning for home ownership to retirement.

S&T Bank's new personified icon, Merlin, is designed to give customers an enhanced and simplified digital banking experience. Merlin guides customers through a quick and easy 3-5-minute financial assessment on stbank.com, and then allows them to apply for the products they need directly on the site through a new online shopping cart. "He's our new financial wizard whose role is to help customers find the right product solutions that fit their financial circumstances," said Wysinger. "Through the data and analytics collected, Merlin will help us learn more about our customers and provide a holistic view to further assist them with their financial journey."

For more information about S&T Bank's new website and Merlin, please visit stbank.com. For more information about the J.D. Power 2020 U.S. Retail Banking Satisfaction Study^SM , visit jdpower.com.

About S&T Bancorp, Inc. and S&T Bank
S&T Bancorp, Inc. is a $9.5 billion bank holding company that is headquartered in Indiana, Pennsylvania and trades on the NASDAQ Global Select Market under the symbol STBA. Its principal subsidiary, S&T Bank, was recently ranked #1 in customer satisfaction with retail banking in the Mid-Atlantic including best in communication and advice by J.D. Power. Established in 1902, S&T Bank operates in five markets including Western Pennsylvania, Eastern Pennsylvania, Northeast Ohio, Central Ohio, and Upstate New York. For more information visit stbancorp.com or stbank.com. Follow us on Facebook, Instagram, and LinkedIn.

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SOURCE S&T Bancorp, Inc.; S&T Bank

FAQ

What is the new digital sales tool launched by S&T Bancorp (STBA)?

S&T Bancorp (STBA) launched a digital sales tool named Merlin designed to enhance customer interaction and provide personalized financial guidance.

How does S&T Bancorp's new website improve customer experience?

The new mobile-first website offers easier navigation and tools tailored to individual financial needs, improving the overall digital banking experience.

What does the J.D. Power 2020 U.S. Retail Banking Satisfaction Study indicate about retail banks?

The study indicates that banks must successfully transition branch-dependent customers to digital services without compromising customer experience, especially during the pandemic.

How does Merlin assist S&T Bank's customers?

Merlin assists customers by conducting a quick financial assessment and guiding them to suitable banking products through an online shopping cart.