LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has announced the completion of their latest article on ‘Why’ and ‘How’ of improving customer experience in banking. Banking is currently among the least popular consumer businesses. In this article, experts at Infiniti explain why banking companies must focus on improving customer experience and also provides insights on how they can transform processes to become more customer-oriented.
The banking sector has been slow in keeping pace with the digital revolution when compared to other industries. Although technological advancements and innovations including ATMs and internet banking have been incorporated into nearly every banking company, these facilities don’t give much emphasis on improving the customer experience in banking. To transform their current operations and become more customer-oriented, financial services companies need to be more open to modernizing processes and bring customers to the forefront rather than only emphasizing on increasing profits. The ample customer data available with banking companies will prove to be highly useful in achieving this.
Many leading banks are pouring tremendous resources into transforming their customer experience, often with mixed results. Request a free proposal to know how our solutions can help create strategies for positive customer experience in banking companies.
How to improve customer experience in banking
Create cross-functional teams with C-Suite backing
Involvement of stakeholders from different teams including product, distribution, pricing, risk, and legal is vital to transform customer experience in banking. Leaders in customer experience pursue several approaches to overcome complexity in improving banking processes. Banking organizations can consider setting up a dedicated customer-experience organization within the bank or a dedicated team can be assigned to encourage a continuous focus on customer experience in banking across product, service, and geographical silos.
Monitor end-to-end customer journeys
By mapping customer journeys, banking sector companies can identify all touchpoints across all channels where they engage with customers. Begin the customer journey map with the first point of contact that the customer has with the bank. Continue with each next step and all potential steps until the journey is complete.
As banks around the globe rush to transform their customer experience, it’s easy to trip up. Get in touch with our experts to know how we can help you execute a step-change that moves ahead of your competitors in the market.
Continuously emphasize on creating value
Enhancing customer journeys and customer experience in banking is not a linear process. The first round of initiatives may not deliver the desired customer satisfaction levels in most cases. A continuous-improvement regimen can help foster superior customer experience in banking companies.
Learn more about Infiniti’s solutions for banking companies. Request for more information
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us