In the highly competitive world of retail banking, the voice of the customer is the one that speaks loudest. Consumers are used to high levels of personalisation, innovation and automation in all areas of their lives and are looking for the same from their bank. Deploying mobile technologies for payments innovation, creating new and attractive digital channels, and increasing levels of banking self-service are all essential strategies.
Renewed focus on conduct risk also creates an opportunity to reshape the business around the customer and develop customer experience management strategies – from on-boarding to complaint management – as part of competitive positioning.
Banks need to develop the processes and systems that give them a single customer view by breaking down the internal information silos and barriers to data sharing. They need to rationalise product portfolios so that services are flexible and customisable but easy to manage.
Baringa’s banking consultants work closely with retail banks to create their digital strategy, and drive banking innovation through their organisations. We design and help deliver the systems and process improvements that put the customer front and centre – while streamlining operations for ongoing cost savings. We’ve helped to transform branches, telephony centres and operations to improve customer satisfaction, reduce complaints and reduce operating costs.
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Report shows energy and banking sectors failing vulnerable customers
A compelling new study, from leading consultancy Baringa Partners, has lifted the lid on the challenges faced by vulnerable customers in the UK.
To download this report please click here or on the image below: