Customer Centricity In Banking: Your To-Do List


Many of us have a memory from our childhood of the friendly local bank where the tellers were our neighbors. Those days are quickly becoming the distant past as the retail banking industry comes under competitive pressure from nontraditional options such as Internet-only banking, prepaid cards, and services like PayPal.
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Is There A Chief Renewals Officer In Your Future?


There is only one boss. The customer.  

And he can fire everyone from the Chairman down, simply by spending his money somewhere else. 

(Sam Walton, 1977)

A customer-centric focus is not a new concept in business. Over the years, many companies have talked how ‘the customer the king’ or that ‘the customer is always right’.

Read more at Finextra

Is There A Chief Renewals Officer In Your Future?

Banking by Appointment – Bring it On!


Wells Fargo promoted new banking by appointment via outbound e-mail marketing. I say it’s about time! Online appointment booking is just plain smart. It’s also overdue. For years, consumers have been able to schedule appointments with healthcare providers, hair dressers and restaurants – why not Banks?
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How Three Credit Unions Are Cultivating Relationships With Gen-Y Members


Financial services organizations have a keen eye on the highly-regarded Gen-Y consumers and are spending considerable time, money and marketing resources trying to attract and keep them. Here’s how three credit unions are forging relationships with members that are built on trust, service and loyalty.
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Connecting to customers: going social


According to our recent research, over half of banking consumers (58%) now avoid calling their bank’s customer services team, preferring to use social media instead. This revelation clearly highlights the appetite for both consumers and banks to use social media as a customer service tool. With two thirds of the UK population on Facebook and 30% on Twitter, how are banks leveraging the power of social media to boost engagement and increase efficiencies?
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What Will Account Opening Look Like in 10 Years?


How will consumers open checking accounts and apply for loans in the not-too-distant future? Here are five likely possibilities.

Fifty years ago, there was only one way to open an account: head downtown to your local bank, find a clerk, and ask him or her to help you. Today, you can open an account in the branch, over the phone through a call center, through online account opening on your desktop, or through mobile account opening on your smartphone or tablet. In every channel, account opening has gotten faster and easier as institutions have started using data, technology, and design to remove pain points and improve the processes of application, qualification, identity verification, funding, and account creation.
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Delivering a Client-Centric Experience….


Financial institutions have so many choices regarding service delivery in every aspect of customer interaction. There are packaged applications, traditional CRM packages, in-house custom solutions, as well as modern business process management (BPM) suites. All of these solutions have advantages and disadvantages, so let’s look at how well they solve the problem of improving the on boarding experience for corporate banking Clients.
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EY’s 8 Banking Customer Segments: Where’s Your Focus?


EY recently released its 2014 Global Consumer Banking Survey. They surveyed more than 32,000 customers across 43 countries to evaluate 31 banking experience elements. As I read through it, I began to think how a community financial institution would turn what EY learned into action.

They parsed global financial services into eight different segments. “Each customer segment has different priorities, so developing targeted strategies requires careful attention to customer experience, channel preferences, priorities and behaviors.”

Woo Your Customers Back With Customer-Centric Banking


In a recent Banking Customer Centricity Study conducted by Bloomberg Businessweek Research Services, 70 percent of global bankers say that customer centricity is very important to them. However, a recent EFMA report found that only 28 percent of banks consider themselves to be “customer centric.” Why the disconnect?
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