Category: Taking Customer Engagement Offline

customer-experience-customer-focus

Five ways Banks can ensure annus horribilis for Customer Experience in 2014!

1. Offer to downgrade:  Banks can bombard the best customers with offers to downgrade their status. For example, they can get the relationship manager to call the platinum card holder and offer her to issue a silver credit card. 2. Cross sell irrelevant products: Its relatively easy doing this.  Run the algorithm on a customer relationship and identify the least fit product. The teller can than try to cross...

E&Y advises Banks:Use innovative technology to deliver the Retail Bank of the future

E&Y advises Banks:Use innovative technology to deliver the Retail Bank of the future

For large retail banks, choosing where and how to compete is a complex challenge. They need to deliver the level of personalisation and flexibility customers want, and develop differentiated products and services — all while lowering costs and generating sustainable profits. Though there is no simple solution, E&Y researchers and analysts could come up with some practical suggestions. To know more, do check the Ernst & Young’s latest survey of retail banking customers around the world. The study examines the views of more than 28,500 banking customers in 35 countries, gathered in March 2012. This blog post is a snapshot of the observations made. Read on..