VERTICALS
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Delivering a Superior Customer Experience to Banking and Credit Card Customers
If you’re competing in the global financial services market today, you probably lack a single view of your customer across your business. You interact with them across multiple channels including call centers, ATM, online, brokers, and the branch. You're dealing with account origination issues, disputes, servicing, underwriting, retention, and offering multiple products and services from multiple business units. If this is the case, then what kind of customer experience are you delivering?
- In this economy, retention is everything.
The market for strategic acquisitions in banking will be saturated in 2009. Organic growth will be key. The fast pace of past acquisitions has rendered national bank differentiation tougher to achieve. How can your business achieve the retention and tenure rates of credit unions who are a fraction of your size and asset base? How can your business maintain and grow the customer relationship without insight into customer behavior and preferences?
- How to manage the cost and complexity?
Today many of the leading global financial services firms — each managing greater than 1M customers, have invested in Chordiant’s Cx customer experience solutions. They are finding with Chordiant, retention issues, product silos, account and loan servicing, bundled offers, and customer satisfaction are all manageable. It all starts with Chordiant’s “unified view” of the customer, accessible to all channels and business units.
- How do your customers really feel about you?
Brand sets expectation and your customer’s experience shapes attitude. Customer attitude bears directly on future purchase behavior. Today while 40% of banking customers are “advocates” and likely to recommend , only 32% would re-purchase a product at their bank first. Only 24% would stay with that bank if offered a highly competitive product. Defined strictly, only 24% of your customers are really “advocates.” If you’re a national or regional brand with over $100B in assets then it’s 40% tougher to grow that relationship than at a credit union or community bank.
- Optimize the relationship with brand.
Begin to get control of your customer issues through deploying strategies that take each customer into account. Reinforce your brand with only the offers or resolutions that make sense to them. Use Chordiant to create advocates for your products. As a customer group, advocates are five times more likely to respond to any offer, and 17 times more trusting of your outreach. Chordiant’s patented decision-based solutions will get you there.
Take a look at how many leading retail financial services firms have embarked on the journey of empowering customers to feel that “...my bank values my business.”
Barclays Asset Finance
During 1998 it became clear that Barclays Asset Finance needed to change dramatically if it were to stay at the forefront of the Asset Finance industry and increase its market share and profitability...
Canadian Tire Financial Services
Canadian Tire is Canada's largest retailer of hardgoods, with revenues of over $4 billion (Canadian), more than 426 retail stores, and 34,000 employees...
CIBC Card Products
CIBC is a leading North American financial institution comprising five strategic business units: Retail Products, Retail Markets, Wealth Management, CIBC World Markets, and Amicus...
ING Poland
Fast-growing ING Bank dramatically improves their “customer experience” with a new unified front-office solution from IBM and Chordiant...
The Royal Bank of Scotland
The Royal Bank of Scotland has never shied away from innovation. To combat fraud, the Bank produced Europe's first multi-colored bank notes, pioneered double-sided printing of notes and became the first British bank to laser-etch customers' photographs onto credit and debit cards...
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