Tagged: banking Technology

Customer taking control to combat potential fraud 0

Customer taking control to combat potential fraud

Ever wondered how great it would be if customer can take control over the transaction to be allowed and the transaction to be blocked. It would not only be easy at the bank’s part but also would enhance customer loyalty & trust. Read on an Interesting dialogue between a banking customer and bank representative, where the customer wishes for a solution that empowers him like never before

Effective Customer Retention through Early Customer Attrition Detection

Effective Customer Retention through Early Customer Attrition Detection

Communication to customer across channels should be consistent. For example, imagine the irony when a customer has a service issue, is agitated and has lodged a complaint, he receives a call from the Inside Sales team regarding a banking product sale. Hence, it is important to avoid disconnected and impersonal marketing campaigns to avoid customer churn which has become a major problem in banks today. Curing churn is possible with the help of right technology, active involvement of all the stakeholders across functions in fighting against the identified churn root causes, and an organizational level strategy to prioritizing excellent customer experience above anything else.