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.

Mystery Shop Program Design in Financial Services


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.

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CX Financial Services Journey Mapping


In both marriage and CX, it is the little things that make a big difference. A 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

Financial Services CX Trends and NPS® Benchmarks


American Express, ABN AMRO, HSBC, Royal Bank of Scotland (RBS), USAA have one thing in common – they are all financial services companies operating in a sector not so famous for customer centricity.

7 Secrets of Voice of the Customer Success Whitepaper

budget and which might deliver insight but not the financial clout to take. CHIEF FINANCIAL OFFICER. to set yourself such solid financial goals, but it’s what you need to do to secure.

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.

3 Reasons Financial Service Providers Need Great CX


Financial institutions are under tremendous pressure from a number of sources. In the US, the Consumer Financial Protection Bureau is being vigilant about protecting banking customers, resulting in more than $4.6 Is it important for banks to invest in customer experience management ?

The Financial Imperative of Best in Class Service

CSM Magazine

It’s around twenty years since businesses began to think seriously about customer service as a means of growing competitive advantage.

4 things you need to know about mobile CX in financial services


These numbers are only likely to increase over time, leaving financial institutions wondering: how do we adapt to and thrive in this new mobile-dominated environment? In fact, 70% of financial services CIOs say they plan to increase investment in technology in 2017.

Self-Service is an Essential for Financial Services in 2017


The financial services industry is changing and developing at a ferocious pace, and 2017 is expected to be a year of growth, at least for those companies able to provide their customers with access to the best technology available to assist them throughout their online journey. Seeking Seamless Customer Service for Financial Industries. A Customer Service Drop for Banking and Financial Services. The Need for More Personalization in Financial Services.

For financial institutions, your first impression is your only impression


Banking and financial services aren’t afforded the same opportunities to acquire new customers as other industries. The post For financial institutions, your first impression is your only impression appeared first on ForeSee. Financial Services Insights banking Customer Experience

Bots and Biometrics for Financial Services: Putting the “B” in Banking


Today, nearly every financial process has been digitally redefined. For financial service providers (FSPs), digital transformation has become a means of survival in an age of rapid innovation. Customer Engagement AI Avaya Chatbots Customer Experience Financial Services virtual reality

We surveyed financial services CX leaders and here are 4 things we learned


We recently commissioned an independent survey of financial services customer experience leaders to understand CX performance across the industry. However, these roles do not exist in many financial services organizations. Blog customer experience CX feedback financial services

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? Below are just a few reasons why outsourcing lead generation should be an option for financial firms.

Demonstrating the financial ROI of better customer experience


Date: Wednesday, June 21, 2017 Demonstrating the financial ROI of better customer experience. Published on: June 21, 2017. Author: Vincent Giraud All organizations understand the importance of customer experience to the bottom line.

Financial Darwinism: Why Financial Call Centers Have Failed to Deliver


The Promise. Many years ago, the banking industry introduced the call center channel with the goal of lowering service costs and improving the overall customer experience.

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).

CX Financial Services Journey Mapping


In both marriage and CX, it is the little things that make a big difference. A 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

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.

What Could Next-Gen Financial Coaching Look Like?

Forrester's Customer Insights

Over the past decade, Forrester has written extensively about the evolution of digital money management (AKA personal financial management, or PFM). Digital money management promises to give millions of people the financial education, budgeting tips, financial guidance, and advice that they sorely need. Yet, despite customers needing financial advice as much as ever, early implementations […].

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


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.

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. If you’re a business executive at an incumbent financial services firm, now’s not the time to stand on the sidelines.

Verint Speakers: The Omnichannel Customer Experience, Analytics-Driven Value and Financial Compliance


Financial Compliance Customer Satisfaction key performance indicators Compliance Customer Service Customer Experience Analytics customer engagement optimization omnichannel operational efficiency regulatory compliance customer engagement customer focusChief Data and Analytics Officer.

Demonstrating Customer Engagement Success through ROI Models


Here are some ROI examples from Verint customers who have driven results at their organizations: Back office automation improves efficiency at a financial services firm by 10% in 18 months, saving $1.5M. A financial services firm with more than $600B in assets and over 5,000 employees in 13 countries is rewriting the rules of workforce optimization by creating significant value with automation.

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Blockchain, the Internet of Things and other top tech trends for 2018

Vision Critical

Blockchain will transform many industries—including big markets like financial services —so companies need to get closer to their customers to understand the impact of this technology to consumer behavior.

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


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 services

The Financial Fact Founders Can’t Forget


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.

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. How do I know this? A recent Forrester survey found that among global FSI firms, 34% of 2015 revenue was generated through digital products and services or products sold online.

5 fintech trends disrupting retail banking (and how banks can fight back) | The Financial Brand


The post 5 fintech trends disrupting retail banking (and how banks can fight back) | The Financial Brand appeared first on ForeSee. Financial Services Insights bylines Fintech Retail banking The Financial Brand Venmo ZellePretty much everyone agrees on this: Millennials don’t find traditional banks very appealing. In fact, the vast majority of Milliennials (71%) would prefer to visit the dentist than a bank.

Financial Institutions Playing Catch-up in Customer Experience


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.

Award Winning CX Leadership in Banking, with Mark Slatin – CB58

Customer Bliss

Podcast Banking client experience client services customer experience financial servicesEpisode Overview. Mark Slatin is the Director of Client Experience for Sandy Spring Bank.

Another Mobile Feature Banks Should Offer: Subscription Management

Forrester's Customer Insights

[this blog post was co-authored by Michael Chirokas] A year ago, Forrester published a report that listed Eleven Mobile Features That More Banks Should Offer. Unsurprisingly, our ongoing research continues to uncover new mobile services that belong on banks’ road maps.

What Does Finance Need to Know About Digital Business Transformation?


From a customers’ point of view, digital transformation in the financial sector might start and finish at their shiny new mobile banking app. While spaces are definitely being made in many financial industries for digital roles and projects, it’s not enough.

Oh No, I Lost My Credit Card! Responding to the Voice of the Customer


Back-Office Operations Voice of the Customer Voice of the Customer Analytics Customer Satisfaction Customer Service Customer Experience Bank and Financial Services fraud prevention customer engagement optimization banking process improvement fraud detection customer engagement customer focus back office business processes financial services credit card

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.

Your Bonus Program is Creating Bad Employees

Waypoint Group

Customer Success Lessons Learned Metrics Net Promoter (NPS) bonus employee financial linkage NPSLet’s keep this one short and let the 3-panel cartoon show the story that we’ve all experienced, but often encourage in our own companies.

Blockchain Fever: The Potential And Challenges Of Blockchain Technology 

Forrester's Customer Insights

blockchain business technology (BT) chief information officer (CIO) financial services networking podcast security & risk technologyIn last week’s episode of Forrester’s What It Means podcast, Principal Analyst Martha Bennett disentangles the hype from the reality of blockchain technology — and provides a passionate perspective on blockchain’s potential as an economic engine. Podcast transcript Victor Milligan: Hi, I’m Victor Milligan.

As Branches Evolve, So Will the Workforce


Retail Financial Services Customer Feedback Surveys Customer Service Customer Experience Retail Banking Bank and Financial Services customer engagement optimization employee engagement employee productivity Customer Feedback bank banking branch recording regulatory compliance employee performance customer engagement banks customer focus employee effectiveness surveys performance scorecards financial services branch KPIs branch audio recording

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 Ombudsman has said this is because borrowers have become more aware of their rights.