Simplifying Banking Engagement and Empowering your Customers Rapid change in the banking technology and the behavior of customers pushes banks to be on par with the industry. Gone are the days where everything was complex starting from standing in the queue, filling the form, money transfer, etc. Customers are now searching / looking for those
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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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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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For large retail banks, choosing where and how to compete is a complex challenge. They need to deliver the level of personalisation and flexibility customers want, and develop differentiated products and services — all while lowering costs and generating sustainable profits. Though there is no simple solution, E&Y researchers and analysts could come up with some practical suggestions. To know more, do check the Ernst & Young’s latest survey of retail banking customers around the world. The study examines the views of more than 28,500 banking customers in 35 countries, gathered in March 2012. This blog post is a snapshot of the observations made. Read on..
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