The CX journey to customer lifetime value

Harvard Business Review defines customer experience (CX) as “the cumulative impact of your customers' end-to-end journey with you, the multiple touchpoints over time, which create a true competitive advantage to companies that get it right.”While that is an accepted definition for retail, CX for financial institutions has historically been considered from the post-sale or transactional perspective, i.e., Read More

By |2020-05-27T19:03:45-05:00May 5th, 2020|Comments Off on The CX journey to customer lifetime value

Automated self-service is great … until it is not

There’s little debate that automated self-service technology has captured the imagination of financial service providers. Banks, credit unions, lenders, wealth management firms and other providers of all sizes and geographies are scrambling to deploy digital customer service solutions into their contact centers and customer service organizations.These technologies can help financial institutions increase productivity, lower operating costs, build Read More

By |2020-05-27T18:16:21-05:00April 17th, 2020|Comments Off on Automated self-service is great … until it is not

Cybersecurity protection for bank customers starts with awareness

The probability is high that a bank customer will at some point experience a cybersecurity incident. Above and beyond the financial and operational risk, cybercrime comes with substantial reputational risk for banks, as customers are far less likely to trust institutions whose products and services are frequent targets for breaches or hacks.While banks are ramping up their Read More

By |2020-05-27T18:16:23-05:00March 12th, 2020|Comments Off on Cybersecurity protection for bank customers starts with awareness

How customer experience benefits from operational efficiency

As the banking industry faces tighter margins and increasing competition for customers, many financial executives find themselves looking to cost reductions and department downsizing to better their bottom lines.Yet, those who take a balanced approach and identify the right operational efficiency initiatives may find that what’s good for profit margins may also improve the customer experience. Automation, Read More

By |2020-05-27T18:16:24-05:00February 20th, 2020|Comments Off on How customer experience benefits from operational efficiency

Moving toward a modern approach to customer experience

Everyone is still trying to make sense of CX. Chances are you've encountered endlessly diverse interpretations, opinions, strategies, theories and analyses by now about the emergence of customer experience (CX) as a fundamental business strategy. However, one principle connects them all: CX is critical, and it will only become more important as digital consumerism grows. Harvard Business Read More

By |2020-05-27T18:16:26-05:00January 17th, 2020|Comments Off on Moving toward a modern approach to customer experience

Three ways to acquire new customers

How will a financial services organization drive new customer acquisition in 2020? As always, it’s high on the list of priorities for leaders in the financial services industry. New customer acquisition ranked second on the list of priorities in BAI Banking Outlook: Trends in 2020, moving up from third the previous year. BAI research suggests three areas Read More

By |2020-05-27T18:16:26-05:00January 13th, 2020|Comments Off on Three ways to acquire new customers

Customer experience will be the digital imperative in 2020

Digital transformation used to be code for “what are we going to do with all of these branches?” The transformation efforts focused on changing the branches and everything associated with physical distribution. But while branch strategy remains important, much progress has been made. Bankers have changed their branch footprints, reimagined branch design, introduced new technology approaches and Read More

By |2020-12-23T15:59:40-06:00January 10th, 2020|Comments Off on Customer experience will be the digital imperative in 2020

Five steps, sure bets on the road to customer experience success

Let’s say your bank or credit union wants to raise its customer experience game. What step would you take first? Balloons in the branch lobby? A cute email on the customer’s birthday? Or how about something substantial—like New Math 101? “The first is that you have to acknowledge and understand that customer satisfaction, management and monitoring is Read More

By |2020-05-27T17:58:09-05:00April 26th, 2019|Comments Off on Five steps, sure bets on the road to customer experience success