Banking Customer Experience in Middle East The growing importance of customer experience has taken over the banking industry by storm. A recent report published by E&Y details out latest trends in customer experience from around the globe and suggests that banks should aggressively leverage valuable insights from customer behavior to effectively chart out their customer experience strategy. The
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The new bedrock for consumer banking: Customer experience is not a fad but has the potential to make or break a bank’s revenue. A recent research report from Capgemini revealed that more than half of bank customers are dissatisfied with their retail banking experience. The report also reveals that dissatisfied customers are increasingly choosing competing
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Increasing Importance of Big Data in Banking: The phrase big data has become a buzz word. Everyone talks about it or has information in bits and pieces, but only few companies know how to utilize the same. Big data is characterized by the tremendous volumes, varieties and velocities of data, that are generated by a
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In an age where even scientific discoveries are turning out to be unreliable, scientists, of course state that these are “self correcting” and therefore in the long run, the truth shall prevail, businesses have something to worry about, mainly so because they need to take quick decisions based on the information they have available today
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1. Offer to downgrade: Banks can bombard the best customers with offers to downgrade their status. For example, they can get the relationship manager to call the platinum card holder and offer her to issue a silver credit card. 2. Cross sell irrelevant products: Its relatively easy doing this. Run the algorithm on a customer relationship and
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Branches are costliest assets for any bank. The costs involve real state, staff, facility management, IT, security and systems and so on. There was a time when almost all banking happened through these branches. Now with a-changin’ times, banking also happens through internet, mobiles, tablets, ATMs on and call-centers. This has led to a classic
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