Improving Affluent Customer Satisfaction to Increase Loyalty


Data from the 2013 U.S. Retail Banking Satisfaction Study finds that satisfaction and loyalty metrics among Affluent customers are lagging those of Non-Affluent customers. In turn, financial institutions are jeopardizing their ability to deepen the share-of-wallet they hold with their most valuable segment of customers.

Contrary to findings within the retail banking segment, data from the 2013 Full Service Investor Study finds that Affluent investors are significantly more satisfied than Non-Affluent Investors (818 vs. 785, respectively), leading to lower levels of intended attrition.  Therefore, financial institutions have an opportunity to identify the drivers of Affluent customer satisfaction from the wealth management experience and translate them into the retail banking experience.

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Improving Affluent Customer Satisfaction to Increase Loyalty

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ANZ Pioneers the use of IBM Watson to Enhance Wealth Management Services


Early this year Australia’s ANZ group pioneered the application of IBM Watson (the supercomputer which showcased its ability to process large volumes of data and Natural Language Processing (NLP) by winning a game of Jeopardy! in 2011), in its wealth management division.

ANZ is amongst the first few banks globally to explore the capabilities provided by the supercomputer for customer service and engagement in its wealth management division. Other banks worldwide are also experimenting with Watson in their innovation labs.
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Rising to the Challenge of the Rising Mass Affluent


Bankers looking to increase their share of the mass affluent market should focus on the younger segment of that market, who are more inclined to work with banks.

The desire for growth is leading bankers to renew their focus on capturing the mass affluent population. In the U.S., these are the people with liquid investable assets ranging from $250,000 to $1 million, representing more than $7.5 trillion in assets. But for most banks, making inroads with the mass affluent population has proven difficult. The reality is that while mass affluent clients tend to use retail banks for transaction accounts and CDs, they go to brokerage firms to manage their investable assets. Typical penetration of retail bank wealth management services among mass affluent clients, according to Booz & Company analysis, averages a paltry 5% to 7%.
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„Gewinnen“ im Wealth Management


Gerade im Private Banking und Wealth Management gilt nicht automatisch die Devise „Grösser ist gleich schöner und besser“. Dennoch müssen auch kleinere Institute Gewinnerstrategien entwickeln, um sich gegen große Budgets behaupten zu können.
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Digitale Lösungen für das Wealth Management 2.0


Private Banking und Wealth Management sehen sich einer Vielzahl von Herausforderungen gegenüber: Veränderte aufsichtsrechtliche Rahmenbedingungen, misstrauische Kunden und mehr. Eine zentrale Rolle beim Aufbau von Kundenbeziehungen zu einer neuen Generation reicher Kunden spielen insbesondere auch neue technologische, digitale Möglichkeiten.
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Wealth Management und Technologie


Auch die Bereiche Private Banking und Wealth Management stehen unter dem Einfluss digitaler Technologien. Diese zielen insbesondere auch das Verhältnis Kunde-Kundenberater ab und nicht so sehr darauf, Selbstbedienung zu ermöglichen. Doch welche Möglichkeiten gibt es, das Verhältnis zwischen Berater und Kunde zu intensivieren?
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