Banks are being forced to rethink their raison d'être these days. It’s no longer enough to exist for the sole purpose of turning a profit. With a powerful purpose, banks can reconnect with the community they serve and rediscover the very human side of banking – and do well. Find out more on the benefits of pursuing a customer-centric purpose.
A great customer experience is a balancing act between the independent, savvy consumer who expects self-service on every device and the innately social human being who derives value from seeing and interacting with one another. How do we balance the convenience of digital with the need for human interaction?
For a long time the risk-averse insurance industry had no compelling reason to change. But customers have changed and so have their demands. They expect their pricing and product offerings that are relevant and personalized for their situation.
Digital transformation is not just about implementing technology. It’s about changing behaviours and attitudes, and ultimately culture. It’s people who bring the benefit technology to life – a simple idea that is often overlooked in transformation initiatives.
The concept of loyalty has changed rather dramatically in recent years. It’s no longer about a bank’s ability to hold customer money, but about how easily the customer can move it around and conduct transactions. It’s these daily interactions that are the front lines of a new sense of loyalty.