The need for banks to understand their customers better is often discussed – but what happens when customers don’t understand their bank?
The talk of the 360-degree view of the customer should not obscure the fact that customers need to understand banks – and banks have to help them.
When we talk about the future of banking, we often focus on the customer. Phrases like “the 360-degree view of the customer” or “holistic understanding of the customer” occur and recur. Understanding the customer is hugely important, but is only part of the equation. Banks need to understand customers, but customers also need to understand the bank.
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