Report on customer experience in banking provides insight into strategies, investment, effectiveness, challenges and measurement of CX.
Interesting survey results from Financial Brand’s survey…. While banks are saying Customer Experience is a top strategic initiative, in actuality it far less important within the bank. “Talk the Talk” and “Walk the Walk” may be an old saying but it is ringing true according to this survey. Banks are telling their customers they are focused on providing a great experience, when they are more focused on cutting costs and improving internal processes.
Banks are getting caught up in believing that improving technology will improve customer experience. When indeed this is not true. Technology may be sexy and cool, but improving customer experience relies on knowing the customer and understanding the customer needs and interacting with the customer the way the customer wants to engage. Gathering customer feedback when the customer interacts with its bank, analyzing that feedback and implementing necessary changes, this is what will lead to better customer experience. While technology will deliver the feedback data, it is more important for the data to be provided in a meaningful, useable, and actionable way.
We created a customer feedback business portal that focuses on the survey content and best practices to measure, improve and respond. We deliver the feedback and analysis in an intuitive company-wide online dashboard. The delivery is customized to the needs of the bank and its business lines.