West Monroe

FEBRUARY 28, 2023

As financial institutions determine their strategies for navigating the new year, West Monroe partnered with American Banker to ask leaders in commercial, retail, and private banking how they’re approaching their loan and deposit products and portfolios in response to ongoing financial pressures in the U.S. There’s little panic.

Banking 52

Banking Financial Retail Consumers 52

Inbenta

NOVEMBER 9, 2021

The banking sector has also recognized the game-changing effects innovative technological disruptors like Artificial Intelligence (AI) can have and acted promptly to optimize their online and mobile banking models with customer interaction platforms. Digital Banking Moves Forward. check account balances.

Chatbots 95

Chatbots Banking Customer Care Self Service 95

Currency Alliance

OCTOBER 12, 2020

That type of simple recognition goes a great way in building loyalty with customers. This presentation is about driving customer engagement, and how the loyalty industry is transforming in order to engage with the mid-tail and long-tail customer. Loyalty programs must evolve to keep customers engaged.

Loyalty 98

Loyalty Marketing Loyalty Programs Banking 98

Currency Alliance

OCTOBER 4, 2023

Recognizing loyalty program members at the Point of Sale (POS) has been challenging for over 30 years. Large brands with their own loyalty program typically invest heavily to integrate the loyalty platform into one or more POSs, but for smaller and medium-sized companies, this is often out of reach in terms of cost and technical complexity.

Loyalty 59

Loyalty Loyalty Programs Retail Banking 59

2020 Research

SEPTEMBER 20, 2022

Schlesinger Group conducted research , in collaboration with Apex Scoring System, to explore what’s behind the sharp decline in banking customers’ loyalty. Is it booming technology and online banking or a complete loss of trust in “big banks”? Forward-Thinking – Are you innovating and building new financial experiences?

Banking 52

Banking Financial Loyalty Consumers 52

Currency Alliance

NOVEMBER 4, 2022

This fee is commonly how financial services brands have funded their loyalty rewards for at least the past decade. So how should New Zealand’s banks and brands respond, and how should other brands collaborate with partners to reduce dependency on any single source of funding? Rationalizing loyalty ROI vs other marketing channels.

Loyalty 52

Loyalty Marketing Loyalty Programs Banking 52

Currency Alliance

JUNE 11, 2019

A 2018 Collinson study reported that 66% of financial services professionals say their bank “does not understand why customers are loyal or have a strategy to strengthen customer relationships”[i]. People are more likely to leave their spouse than their bank[ii], so it might seem that banks have no case to answer. Extra what?

Banking 40

Banking Loyalty Consumers Loyalty Programs 40

Experience Investigators by 360Connext

APRIL 23, 2024

Leading customer experience efforts within a larger business strategy can offer a blueprint for fostering customer loyalty, enhancing customer (and employee) retention, and ultimately, driving brand loyalty. This requires a culture of innovation, and customer experience innovation is a known differentiator in the market.

ROI 260

ROI CEM Net Promoter Score Customer Experience 260

West Monroe

DECEMBER 11, 2022

This means that at a time when banks are poised to generate “cycle” high-net interest margins, they’re instead forced to prepare for volatility: increasing loan loss reserves, optimizing their workforce, and scrounging for deposit bases. Facing an economic downturn, banks should play offense.

Banking 52

Banking Marketing Self Service Financial 52

Talkdesk

DECEMBER 23, 2020

innovation and competitiveness. Distribution through financial centers: Banks, credit unions and community lenders will receive the applications, review, process and distribute the new tranche of $267.5 Banks and lenders will need to make the PPP process as clear and straightforward as possible to their agents and clients.

Banking 126

Banking Contact Center Insurance Self Service 126

Support EXP

OCTOBER 13, 2022

Dayton’s legacy – and its future – are based on innovation. So you could say innovation is in our blood. Or in the thin-crust, square-cut pizza that’s one of our yummier local innovations. Innovation is intentional. If you’re not innovating, you’re standing still…and falling behind! Trust – Innovation – Loyalty.

Innovation 52

Innovation NPS Leadership Loyalty 52

Support EXP

OCTOBER 13, 2022

Dayton’s legacy – and its future – are based on innovation. So you could say innovation is in our blood. Or in the thin-crust, square-cut pizza that’s one of our yummier local innovations. Innovation is intentional. If you’re not innovating, you’re standing still…and falling behind! Trust – Innovation – Loyalty.

Innovation 52

Innovation NPS Leadership Loyalty 52

Currency Alliance

FEBRUARY 20, 2023

This article on the loyalty rules engine is probably the second-most important article I will ever write on loyalty marketing*. It is the most powerful, yet under appreciated module (or tool) in a loyalty marketing stack of software. This would not require much of a rules engine – since your program has no variation.

Loyalty 52

Loyalty Loyalty Programs Social Media ROI 52

InMoment XI

MAY 18, 2022

Touchpoint Impact Mapping is a innovative way of understanding the moments that matter to customers. Click here to hear how banking giant, Virgin Money, leveraged Touchpoint Impact Mapping to identify a key friction point and then improve its customer onboarding experience! Check out this infographic ! #3:

Customer Journeys 529

Customer Journeys How To Touchpoint Infographics 529

West Monroe

JANUARY 25, 2022

It is also assumed that M&A will be a hot topic in 2022 as banks look for new growth opportunities and to increase the speed at which they can invest and scale their technology platforms. Payment and monetary disruption: the rise of crypto in mainstream banking. This outlook will not include an analysis of M&A trends.

Banking 52

Banking Financial Trends Multi-Channel 52

ReviewTrackers

MARCH 14, 2019

The Importance of Customer Journey in Banking. There is so much disruption going on in the world of banking and financial services. After a decade of having to deal with serious trust issues and thin margins, banks today continue to face a mix of challenges. Fickle consumer loyalty and ever-changing preferences.

Banking 94

Banking Customer Journeys Touchpoint Rewards Programs 94

Currency Alliance

DECEMBER 11, 2023

As everyone knows in the loyalty industry, entering into new commercial agreements with partners can be a very time-consuming effort. For this reason, only very large partners end up collaborating even though the loyalty program members engage with thousands of medium or smaller potential partners on a daily basis.

Loyalty 52

Loyalty Loyalty Programs Brands Course 52

CSM Magazine

MAY 10, 2024

As they become accustomed to digital excellence in other areas of their lives, they now expect the same level of innovation and digital fluency from their financial providers. Transparency : Clearly communicating policies, processes, and any changes therein can help customers feel more secure and informed about their banking choices.

Financial 52

Financial Customer Expectations Strategy Banking 52

Integrate.ai

JANUARY 9, 2020

As a bank, one of the most valuable assets you have at your disposal is customer data. Tap into that data, and you can create better customer experiences, improve loyalty, and unlock massive cost savings. In fact, banks that use their data wisely (and safely ) stand to save a combined $447 billion by 2023. Increasing revenue.

Banking 64

Banking Insurance Financial Chatbots 64

Integrate.ai

MAY 11, 2020

As a bank, one of the most valuable assets you have at your disposal is customer data. Tap into that data, and you can create better customer experiences, improve loyalty, and unlock massive cost savings. In fact, banks that use their data wisely (and safely ) stand to save a combined $447 billion by 2023. Increasing revenue.

Banking 52

Banking Financial Insurance Chatbots 52

InMoment XI

NOVEMBER 20, 2023

This personalization not only enhances customer satisfaction but also drives sales and fosters brand loyalty. This post-transaction interaction not only fosters customer loyalty but also contributes to additional revenue through upselling and cross-selling opportunities.

Customer Experience 324

Customer Experience Strategy Chatbots e-support 324

Currency Alliance

DECEMBER 7, 2021

I heard it once, two weeks ago at a loyalty conference in London. Loyalty trends were being discussed, as well as what had been hot topics in prior years – some of which just faded away as fads. Most companies need to stay focused on what we call Loyalty Imperatives for this decade. The Loyalty Imperatives answer that question.

Loyalty 52

Loyalty Trends Loyalty Programs Touchpoint 52

Currency Alliance

DECEMBER 19, 2022

It has the potential to address a lot of business challenges, and enable many forms of elusive innovation in loyalty marketing. The biggest opportunities for loyalty programs relate to operating more efficiently to reduce cost, and improving personalization. Using AI to improve profitability of pricing and promotions.

Loyalty 52

Loyalty Marketing Airlines Loyalty Programs 52

Lumoa

AUGUST 8, 2023

Effectively analyzing survey results can provide numerous benefits, such as enhanced customer satisfaction, increased sales, and improved brand loyalty. Net Promoter Score (NPS) question: This is a popular metric used to measure customer loyalty and satisfaction. How would you describe your experience with us?

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Analysis Survey Feedback How To 208

Currency Alliance

MAY 9, 2022

Such ‘digital washing’ (like greenwashing in the context of environmental protection) is also taking place in loyalty, where various vendors claim to be true SaaS platforms or API-centric. To help businesses on this path, we have decided to share our experience in building an API-centric loyalty platform over the years.

Loyalty 52

Loyalty Technology Loyalty Programs Multi-Channel 52

Oracle

NOVEMBER 23, 2020

The Thinker Award for Best Innovation in Service and Field Service honors those who dream about bigger and better commerce, service, and field service experiences—then roll up their sleeves and make them happen. The bank was experiencing challenges with the document management system it was using for policies and procedures.

Innovation 75

Innovation Customer Service Banking Self Service 75

Currency Alliance

MARCH 5, 2019

Should my brand be in a loyalty coalition? Do reward points really earn loyalty? These, and other important questions, were subject of a debate held recently at the Visa Innovation Center in London, and Convened by Annich McIntosh of Loyalty Magazine. Loyalty Coalitions are Morphing into Marketplaces.

Loyalty 58

Loyalty Loyalty Programs Entertainment Consulting 58

West Monroe

JUNE 25, 2018

In an industry that is more than 40 years old and increasingly commodified, product is important, but the overall quality of the customer experience is driving the difference between one bank and the next. Only banks with operating models built around and for the customer will be able to excel, winning customers and market share.

Banking 40

Banking Self Service Contact Center Financial 40

Integrate.ai

MARCH 12, 2020

Over the past few decades, the financial services industry has done a good job of innovating and utilizing new technology to the benefit of customers. Just look at the rise of mobile banking, for example, which has completely transformed the industry. It’s about informing, guiding, and demonstrating care for customers and prospects.

Banking 52

Banking Competitive Advantage Financial Retail 52

Heart of the Customer

MAY 12, 2016

Guest post by Mark Johnson Since the arrival of the digital age, there have been some major changes between the way banks and their customers interact. The post How Personalization Affects Your Customer’s Loyalty appeared first on Heart of the Customer.

Loyalty 60

Loyalty Banking Financial Innovation 60

Currency Alliance

MAY 19, 2021

Modifying legacy loyalty technology, to enable consistent and relevant engagement across the expanding number of customer-facing platforms, is becoming cost-prohibitive. If you want a more technical description of headless loyalty, read our previous article on the topic here. This article has three sections. Enter: headless platforms.

Loyalty 52

Loyalty Touchpoint Loyalty Programs Social Media 52

2020 Research

SEPTEMBER 1, 2022

consumers are shifting their attitudes toward banking service providers. In particular, the competitive landscape of the finance industry led to changes in customer loyalty. Legacy banks must consider how to cultivate consumer loyalty and fight back against challenger banks who are simply doing a better job.

Consumers 52

Consumers Report Trends Banking 52

Comm100

FEBRUARY 6, 2023

Enhancing your customer experience is important not just because it will increase customer loyalty and satisfaction but because customers also expect it. It requires that you digitize your banking services to be convenient, easy to use, personalized, and secure. Research shows that over 80% of companies compete primarily based on CX.

Financial 206

Financial Trends Self Service Customer Experience 206

Comm100

MARCH 9, 2022

Through a combination of innovative services and new technology, you’ll learn how credit unions can improve member experience with current and future members, as well their customer service reps too. In this blog, we’ll take a look at the top strategies that credit unions can employ to improve member experience.

Strategy 191

Strategy Omni-Channel e-support Financial 191

Currency Alliance

DECEMBER 17, 2019

This is the blog version of our Loyalty Strategy Guide 2020. For a more engaging read, click here to Currency Alliance Loyalty Strategy Guide 2020. There was a mix of good and bad, for loyalty in 2019. The widespread devaluation of loyalty currencies during the past few years brings this into sharp focus.

Loyalty 64

Loyalty Strategy Loyalty Programs Travel 64

West Monroe

OCTOBER 19, 2022

It’s well understood that a customer’s experience drives their loyalty: 80% of customers say the experience is as important as the product or service itself. Key Topics: Gain an understanding of how great customer service in banking translates to profitability. Managing Director – Silicon Valley Bank.

Customer Service Strategies 52

Customer Service Strategies Strategy Customer Service Banking 52

Currency Alliance

FEBRUARY 10, 2021

If a new CEO replaced you tomorrow, and had no previous connection to the current loyalty program, what changes do you think she would make? We hear loyalty leaders state all the time that they have embraced ‘best practices’. That’s right, loyalty programs should be a profit center. Nobody granted those loans on a whim.

Loyalty Programs 52

Loyalty Programs Loyalty How To Touchpoint 52