Tagged: Customer experience management

How ‘not’ to delight customers – A Customer Experience Faux-Pas

How ‘not’ to delight customers – A Customer Experience Faux-Pas

With every bank going that extra-mile to improve customer experience, sometimes efforts are made without a proper understanding of what the customer really wants. It is impossible to know everything about a customer, but the bank should be receptive to all the information that can be extracted from the transaction behavior of a customer or even from the conversations (verbal/non-verbal) between them. The banks that are most proactive in getting such information capturing systems and processes in place would be the ones leading the race. Try and cross the barriers to understanding a customer, and positive customer experience will automatically follow suit!

Additional authentication in banking transactions- Are you thinking it right?

Additional authentication in banking transactions- Are you thinking it right?

Migration from traditional ‘one size fits all’ 2-factor authentication methods to a dynamic risk based approach, which uses all available customer, account, payment and device data to manage fraud and risk across the enterprise can be an intelligent move to make as banks would want to monitor transactions and prevent fraud and at the same time do not want to affect the banking experience of its customers. In order to enhance the customer experience banks might need intelligence about account/customer behavior patterns and assess the risk associated with a transaction and advise the right action (challenge/decline/allow) at the right time. Read on…

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...