Tagged: Customer connect

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.

Cross Channel Banking Technology – A Threat or Asset?

Cross Channel Banking Technology – A Threat or Asset?

Banking dates back to 2000BC. Until late 20th century, banking was all about accepting deposits and lending money. Safety, Trust and Relationship are the three pillars in banking. Decades passed and the facade of banking too changed a lot. Branch of a bank was the only channel till 3 decades ago through which customers used to transact with a bank. No customers were allowed to transact with...

Discussion: From Customer Connectivity to Customer Connect

Discussion: From Customer Connectivity to Customer Connect

Hanging up on yet another pesky call offering me a loan that I’ve repeatedly refused, I’ve often wondered whether my bank really knows me. On a meaningful level. With the proliferation of channels, banks and customers today are engaged in incessant dialog over email and direct mail, SMS, phone and the occasional branch visit. Space is no object when there are online channels to shrink distances. Neither...