Professional Documents
Culture Documents
Banks as a service organization , customer service and satisfaction should be prime concern to any bank In the present scenario retaining customers is essential than attracting new customers
Customer confidence cus india 72% of customers confidence in In the banking industry has increased during cusc the past year. 68% attribute the improvement to more personalized, innovative services from their bank
Multi- banking 83% of customers have 2 or more banking providers. Customers who have single banking providers have rose from 5% to 17 % over the last year
Finding information on banking products and services 82% of customers seek banking information through face-to-face discussions with friends, family and colleagues.
Customer confidence In india 72% of customers confidence in the banking industry has increased during the past year. 68% attribute the improvement to more personalized, innovative services from their bank
Drivers of attrition Ways to improve customer satisfaction 14% of customers want their banks to improve online and mobile banking 17% of customers have changed banks before, but those planning to change have increased from 11% to 19% sice last year And the main reasons being 86% of customers will to share personal info to receive better service from their bank 37% changed due to high fees 32% due to lack of personalised service or poor branch experience
Bank loyalty programs have increased from 26 to 48 % over the past year
SOLUTIONS more flexibility to customers Give customers more flexibility Offer segmented levels of customer service Move from multi- channel to omni-channel distribution Help customers to shape their experience Encourage customers self service Shift marketing from push to pull Develop flexible loyalty programs
Shaping business models around customer needs Priorities investment on critical customer interactions The use of technology is crucial to deliver lower costs, greater reliability , flexibility and personalized products