New article and case studies from BCG about Customer Experience / Customer Centricity in retail banking business.
Retail banks today face significant challenges to growth and profitability. The erosion of customer trust, the slow economic recovery, and margin pressure stemming from a variety of sources are among the many factors that account for the current difficulties….
…Yet to make those two words more than just a catchy phrase, banks that choose customer-centricity as a strategy must figure out how to transform their vision into actions that deliver on promises. Banks also need to understand the customer-value equation—not overinvesting in customers who are not likely to respond to new initiatives or whose long-term value to the bank is relatively low.
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