Trending Sources

Mystery Shop Program Design in Financial Services

MaritzCX

In an earlier blog, my associate—Al Goldsmith—talked about what Mystery Shopping is used for. In essence, it is used to measure against service metrics in an effort to identify gaps in customer service delivery.  But how does an organization, when considering a mystery shop program to assess site-level compliance, ensure maximum benefit while meeting budgetary. View Article

Why use the Financial Ombudsman?

Helen Dewdney

I’ve used the Financial Ombudsman a couple of times and obviously both times he found in my favour! Here, Patrick Hurley, Director of General Casework describes why and at what point you should contact the Financial Ombudsman. You can find further information on the Financial Ombudsman on their website here. Both times were Halifax too! But what is fairness?

CX Financial Services Journey Mapping

MaritzCX

In both marriage and CX, it is the little things that make a big difference. commonly known figure for the past couple of decades is that nearly 50% of all marriages will end in divorce.  A sad statistic for sure, but the main causes for this, as noted in numerous articles and studies include. View Article

INFOGRAPHIC: The Financial Impact of Customer Service

Tricia Morris

The post INFOGRAPHIC: The Financial Impact of Customer Service appeared first on Parature. There is a high price to pay for poor customer service, while conversely, there is money to be made from consistently delivering a satisfying customer service experience. The challenge on both sides is that customer expectations have never been higher. According Get the 2016 Knowledge .

Outsourcing Lead Generation for Financial Services

Magellan Solutions

Financial services have changed after the Global Financial Crisis. But did you know that many investors and consumers of financial services also want to save more money in fees? As more financial services consumers change the way they look at the financial world, financial service professionals will also need to change the way they do business.

Easy User Experience Win for a Financial Services Company - Frank Reactions

Tema Frank

The post Easy User Experience Win for a Financial Services Company appeared first on Frank Reactions. How Can Big Companies Still Be Making Such Basic User Experience Mistakes? What’s Wrong With This Picture? Find the User Experience Flaws (Company name has been blanked out). But it shocks me when I come across them now. This page is from a huge insurance company’s website.

Building a fintech ecosystem: Why customer experience should come first

Vision Critical

If banks weren’t already feeling the pressure from financial technology (fintech) startups, they should be now: Fintech companies are officially mainstream. Given how much this space has grown in the past decade, the mainstream adoption of new technologies in the financial industry shouldn’t come as a surprise. Customer Experience financial industry financial services fintech

VoC Leaders: How MD Financial Management benefits from looking critically at CX data

ForeSee

Mike Starr is Digital Product Manager at MD Financial Management, who is responsible for gathering feedback and managing a product roadmap for his organization. The post VoC Leaders: How MD Financial Management benefits from looking critically at CX data appeared first on ForeSee. Case Stories Financial Services MD Financial Management VOC Leaders

CX Financial Services Journey Mapping

MaritzCX

In both marriage and CX, it is the little things that make a big difference. commonly known figure for the past couple of decades is that nearly 50% of all marriages will end in divorce.  A sad statistic for sure, but the main causes for this, as noted in numerous articles and studies include. View Article

Forrester’s Next Generation Financial Services Summit Sydney Is Almost Here

Forrester's Customer Insights

Business leaders in the financial services industry (FSI) know that digital isn't the future - it's the present. But faced with increasing consumer demands and financial technology (FinTech) challengers, they need to continue to raise the bar. Our inaugural invitation-only FSI summit in Sydney on Thursday, August 4th will bring together an intimate group of senior executives from banks, insurance companies, and FinTech firms to share Forrester's latest digital business research and facilitate a discussion with industry leaders in the Financial Services industry.

How Wolters Kluwer Financial Services builds a great customer experience – an interview with interim president Pete Koehn

Heart of the Customer

You might picture a reliance on financial facts and figures making it unlikely for a customer experience program to take root. If so, then you clearly haven’t spent any time with Wolters Kluwer Financial Services. The post How Wolters Kluwer Financial Services builds a great customer experience – an interview with interim president Pete Koehn appeared first on Heart of the Customer. Imagine a former accountant leading an organization that helps banks manage regulatory compliance.  Pete Koehn is interim president of Wolters […]. Culture Interviews Minneapolis C

Join me in Sydney for a Dose of Product & Service Design Thinking in Financial Services, August 4th

Forrester

I started my corporate career in financial services - working for several large, global high street banks in Asia. Today, while financial institutions are getting smarter at collecting quantitative data around channel experiences; the qualitative validation piece, the ethnographic research piece, the co-creation with customers piece is still missing in most organizations. financial services. Australia New Zealand Customer Experience Design Thinking financial servicesNotwithstanding, the ideas were good - many smart people worked on these projects. Design Thinking.

The Financial Fact Founders Can’t Forget

Bain

Read the blog post here:  The Financial Fact Founders Can’t Forget. Unlike professional business managers at many incumbent companies, company founders can never forget this simple fact: Revenue doesn’t come from thin air; it comes from customers. This way of thinking, it turns out, is essential to sustainable, profitable growth.

Financial Institutions Can Create New Customer Value With Huawei’s FusionInsight Analytics Platform

Forrester's Customer Insights

Mr. Zhu, General Manager of Huawei FusionInsight, talked about FusionInsight, which financial institutions like ICBC and China Merchants Bank use to enhance customer analytics capabilities like customer recognition, segmentation, and marketing automation. Chinese financial institutions have a huge amount of legacy transactional data as well as in-motion online and mobile banking data, but they are unable to deal with all of it. I attended Huawei's 2015 global analyst summit in Shenzhen last week and studied its latest strategy for big data innovation. digital analytics.

To deliver sustainable Customer Experiences… STOP looking backwards!

ijgolding

However, what becomes clearer and clearer every year (in my opinion), is that not only are businesses and journalists alike more focused on measuring financial performance than anything else, they are so in a retrospective, historical manner. Every January in the UK, the business media tend to get rather excited. You may be reading this thinking that I am barking mad! You may well be right.

How Barclays’ obsession with happy customers started with data

ForeSee

For Barclays, the London-based multinational banking and financial services company, the answer is all the time, The post How Barclays’ obsession with happy customers started with data appeared first on ForeSee. Case Stories Financial Services Barclays Case Studies clientsWhen is being obsessed with customers the same as being obsessed with customer data?

Everything you need to know about Payday loans

Helen Dewdney

In the first six month of 2016, complaints to the Financial Ombudsman about payday loans more than tripled to 4,186 compared to the previous six months. The Financial Conduct Authority (FCA) introduced tighter rules for payday lending since 2014, including capping the interest, but the previous regulator, the Office of Fair Trading, had very similar rules on affordability.

Financial Institutions Playing Catch-up in Customer Experience

Topdown

The survey , fielded by TimeTrade , reflects a serious misalignment of strategic priorities. Consumers crave a more personalized experience from banking providers, but retail institutions think they are already doing a pretty good job. Banks and credit unions say it’s easy doing business with them; consumers disagree.”. Customer Experience Customer Communications

What?! This Bank WANTS its Employees to Break Rules? - Frank Reactions

Tema Frank

Dave Mowat, CEO of ATB Financial, says in this week’s interview that sometimes it’s a good idea for employees to break rules! It’s hard to find an industry much more risk averse than banking (especially these days), so it was startling to hear ATB Financial CEO, Dave Mowat, tell me that he’s trying to encourage employees to break rules! Why do we exist?

How Can a Bank Convince Customers It Really IS Different? - Frank Reactions

Tema Frank

This is part 2 of my interview with Dave Mowat, CEO of ATB Financial. ATB Financial, a government owned financial institution with about 5,300 employees and $46 billion in assets, is trying to shake off its past as a stodgy, bureaucratic institution and replace it with a reputation for being a dynamic, customer-focused one. Dave Mowat, ATB Financial. Promise. People.

Can a Bank Make You Fall in Love? This One’s Trying! - Frank Reactions

Tema Frank

OK, so to most of us the words “love” and “bank” don’t seem to go together, but when ATB Financial decided to research the emotions people had about their financial institutions, it asked them to write either a love letter or a break-up letter to their bank. This Bank Wants To Connect at an Emotional Level With Customers (photo by Franck Mahon, Flickr).

Video: Frictionless Customer Experience Gone Wrong

Peppers and Rodgers

Customer Strategy Financial Services customerexperience customertrust frictionlesscustomerexperienceA recent banking transaction turned from a great interaction to a trust-destroying lesson in frustration. If not executed properly, attempts to remove friction may only cause more customer frustration. There’s more… To read the rest of this blog posting click here.

CX Financial Services Journey Mapping

MaritzCX

In both marriage and CX, it is the little things that make a big difference. commonly known figure for the past couple of decades is that nearly 50% of all marriages will end in divorce.  A sad statistic for sure, but the main causes for this, as noted in numerous articles and studies include. View Article

Authenticity – the key to unlocking the greatest Customer Experiences? Featuring case studies from Weleda and Old Mutual Zimbabwe

ijgolding

Yet VW and Tesco are only adding to a trend very much started by the financial services sector. Old Mutual Zimbabwe is one part of a global financial services giant – Old Mutual Group. If you are not up to speed with your Zimbabwean economics history, you may not know that the financial situation in the country can be described as challenging at best. Extensive quality.

As You Work Toward Digital Transformation, Don't Forget Your People

Verint

One of the most often-used phrases in financial services technology today is "enterprise infrastructure." In recent discussions with IT executives, I've heard them speak of "enterprise data architecture," "enterprise risk management," and so on. Back-Office Operations Retail Financial Services Branch Office Operations Contact Centers Productivity, Retail Banking Bank and Financial Services digital bankingThe phrase stems from the CIO's need to achieve digital transformation (DX) by leveraging systems across the whole organization.

The Next Wave in Customer Centricity: Customers as Shareholders?

Think Customers

Customer Engagement Customer Experience Customer Strategy Emerging Trends Voice of the Customer customerexperience financial voiceofthecustomerprogramI was reading a blog post the other day from Travers Clarke-Walker, CMO at Fiserv - International Group, that got my attention. There’s more… To read the rest of this blog posting click here or visit www.1to1Media.com/weblog.

Fraudsters Are Adapting to Chip & Pin Cards—Are You Adapting to Fraudsters?

Verint

This has led financial organizations to increasingly focus on ways to mitigate the rise in fraudster activity. Contact Centers Customer Service Customer Experience Analytics Bank and Financial Services voice biometrics fraud prevention identity authentication customer engagement optimization Call Centers fraud detectionAfter all, fraudsters have proven they are adaptable.

Tools 19

Is ‘Being Human’ With Customers A New Concept? And, Does It Create Emotional, Experiential, Social and Financial Value?

Beyond Philosophy

They are the ultimate value creators: They create emotional value, experiential value, social value, and of course, financial value. The authors compared financial performance of their selections with the 11 public companies identified by Jim Collins in Good to Great as superior in terms of investor return over an extended period of time. And, Does It Create Emotional, Experiential, Social and Financial Value? Michael Lowenstein, Ph.D., CMC, is Thought Leadership Principal for Beyond Philosophy. But, there is little that is really new or trailblazing in this idea.

The Spotlight Is On the Back Office—Finally!

Verint

There are no industry associations for back-office professionals such as the CCNG, a member network for Contact Center, Customer Service, and Customer Experience Management Professionals; the SHRM: Society for Human Resource Management for HR professionals; the AFP: Association for Financial Professionals for finance executives; and so forth.

Who else wants to get back those bank charges?

Helen Dewdney

If you are in financial hardship, complain about more than one unfair charge over the years and threaten to take the matter to the Financial Ombudsman it is quite possible that you will receive a goodwill gesture. All cases where the Financial Ombudsman thinks treatment has been unfair will be looked at and the service is free so it is worth going further. It has always worked.

Using Voice Biometrics in the Call Center to Combat Digital Fraud

Verint

Contact Centers Customer Service Customer Experience Analytics Bank and Financial Services voice biometrics fraud prevention identity authentication customer engagement optimization Call Centers fraud detectionThe rollout of chip-and-PIN cards is designed to help prevent counterfeit acts associated with credit card fraud and theft. Even still, online fraudulent purchases, a.k.a.

Nordstrom’s Acqusition of Trunk Club is a Win for Shareholders, Employees, and Customers

Storyminers

Nordstrom’s [JWN] acquisition today of Trunk Club (a personal shopping service for guys who hate to shop but want to look good) is reported in the business press today with all the right financial reasons: scale, financial strength, distribution efficiencies, … Continue reading → Blog Customer Experience Retail Apps

How Improving Mobile Banking Experience Can Translate to the Rest of the Business

ForeSee

Customer Experience Analytics Events Financial Services MobileIn 1877, the Bell Telephone Company made telephones commercially available for the first time. About 64 years later, telephones had achieved a 40% adoption rate in the US. When the. The post How Improving Mobile Banking Experience Can Translate to the Rest of the Business appeared first on ForeSee.

How Banks Secure Conversations With their Most Valuable Clients

Customer Interactions

In volatile economic times, the Wealth Management business units of large financial institutions can become pressure cookers, as the banks most demanding clients vie for the time, attention and brain power of their selected financial advisors

Allegiance Welcomes New Chief Financial Officer, Dana Russell

MaritzCX

On the heels of welcoming Carine Clark as President and CEO of Allegiance, we are now equally excited to welcome Dana Russel in his role as chief financial officer (CFO

Kerching! Banking and Financial Services Top UK Customer Satisfaction League

CSM Magazine

The banking and financial services sectors have the best levels of customer service satisfaction in the UK – that’s according to Bright, which today released the results of its first ever ‘Industry Satisfaction Survey’, via its latest Customer Experience Report. This was closely followed by the Financial Services sector, with 89%. Financial Services: 89%. 3.

Allegiance Welcomes New Chief Financial Officer, Dana Russell

MaritzCX

On the heels of welcoming Carine Clark as President and CEO of Allegiance, we are now equally excited to welcome Dana Russel in his role as chief financial officer (CFO