Positive customer "Experience" can result in increased customer satisfaction, loyalty, advocacy, and increased customer lifetime value. Its no longer enough for banks to just serve customers, they need to understand them deeply, their preferences, their choice of products and infuse a more proactive customer-first perspective into everything they do.
To achieving superior experience, one needs to focus on implementing the following:
Map the Customer Journey across their eco-system
Stay Consistent across all touch points Use predictive analytics to individualize customer experiences
Embrace FinTech and always see how to capitalize on technology
Leverage Data to understand your customer preferences and needs
Enable employees to become an advisor to the client, not a bank teller or operator
Technology is not only an enabling factor but also a differentiating factor. It's important to monitor and embrace fin-tech startups especially in the areas of AI, mobile payment, bio-metrics, voice technologies etc, as they focus on enabling the bank in the pocket features. This is critical to allow customers to self-service.
