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Speed, Service, Security and Sustainability Enhancing Customer Experience

The document discusses enhancing customer experience in banking through speed, service, security and sustainability. It provides examples of how to improve speed such as swift digital responses and money transfers. It discusses providing personalized and omnichannel service. It emphasizes the importance of data security and trust. It also discusses using analytics and innovation to ensure sustainability of customer experience.

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Opeyemi Oyewole
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44 views3 pages

Speed, Service, Security and Sustainability Enhancing Customer Experience

The document discusses enhancing customer experience in banking through speed, service, security and sustainability. It provides examples of how to improve speed such as swift digital responses and money transfers. It discusses providing personalized and omnichannel service. It emphasizes the importance of data security and trust. It also discusses using analytics and innovation to ensure sustainability of customer experience.

Uploaded by

Opeyemi Oyewole
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Speed, Service, Security and Sustainability; Enhancing Customer Experience

Customer Experience is the product of an interaction between an organization and a customer


over the duration of their relationship. This interaction is made up of three parts: the customer
journey, the brand touch points the customer interacts with, and the environments the
customer experiences (including digital environment) during their experience. A good
customer experience means that the individual's experience during all points of contact
matches the individual's expectations.

The customer experience in banking refers to all the efforts put together to make every client
feel important when they are interacting with your bank. It is also the cumulation of all the
interactions that a customer perceives along the entire journey. In the banking industry,
Customer experience encompasses every aspect of a bank’s offering such as the speed,
service, security and sustainability of the experience.

Some of my key talking point is enhancing Customer experience through Speed, Service,
Security and Sustainability of our services

1. Speed

We can enhance customer experience by;

 Providing swift response to information and products through our digital platforms.
Our ability to translate effective governance and leverage employees’ competence to
deliver swift and appropriate responses to customers is a significant competitive
advantage
 Ensuring Easy accessibility – we also need to provide ease of use to our digital
platforms so that there is simple access across multiple devices mainly via
smartphone. Typically, customers look for a wide range of features, high quality
banking experience, and an easy way to connect directly.
 Ensuring Swift Money Transfer Services
 Depositing checks using Remote Deposit Capture. This allows customers to take a
picture of a check with their mobile device and deposit that check electronically
without ever visiting a branch or using an ATM

Moreover, Speed positively impacts on KPIs indicators such as innovation, growth,


organisational health, financial performance and operational resiliency.
Some barriers impacting on speed include slow decision making, lack of strategic clarity,
rigid policies and form hierarchy

2. Service

Service is both qualitative and quantitative. It has much to do with how customers feel
and how long they have to stand in a queue. Our customers appreciate that we treat
everyone with respect and consideration

 Offer personalized services – Customers are always behind personalized services and
relevance. They look for products and services that match their needs. We can
identify the key business drivers and deliver personalized support that will help to
shape the customer experience in our bank.
 Prioritize a seamless Omni-channel customer experience. Modern customers prefer to
connect with brands across different channels. They can perform the same banking
operations, whether they use a website, a mobile app, a call center, a bank’s branch, or
any other channel. Providing omnichannel banking customer experience is about
making a similar set of services available to the customers across all the channels,
both digital and offline. The actual omnichannel banking platform also allows real-
time data synchronization between different channels. For instance, customers can
start the onboarding process with one channel and finish it with another, without the
need to provide the same data over and over again.

Moreover, Service positively impacts on KPIs indicators such as Customer satisfaction,


customer loyalty, market performance and operational efficiency.

3. Security

Security is essential to customers. They need to be able to trust us to manage their


finances responsibly. About 95% of customers surveyed according to KPMG (2020)
say that security is the most important factor in choosing a bank.

 We should ensure data security. Customers want to feel secure in sharing all the
information and data with the bank. Banks should be able to build trust to withstand a
healthy relationship with customers.
Moreover, Security positively impacts on KPIs indicators such as trust, integrity, cost
optimisation, bank image and reputation.

4. Sustainability
Sustainability has also been identified to directly impact the profitability of banks on a
global scale. It is clearly a valuable tool and key driver of global development in the
banking industry.
 Make use of big data and analytics. Understanding customers is the foundation for a
sustainable competitive advantage in the digital banking experience. Big data
analytics is an important ingredient in enhancing banking services experience and
making crucial business decisions. The rising fluctuations in customer needs bring in
the vitality of leveraging big data analytics to gain deep insights into the same and
build ways to ensure sustainability of customer experience. With the help of analytics,
banks can gain insights to segment customers, evaluate opportunities, and predict
models to strengthen engagements and increase customer experience of banking
services.
 Continue to designed innovative approaches for a sustainable future

Sustainability can positively impact on KPIs indicators such as financial stability, cost
optimisation, customers satisfaction, competitive advantage

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