 Case Study Customer Experience |
Spotlight on success—see how we have helped banks thrive.Case Study#2 - Customer Experience Reconnecting the dots. Businesses and banks don’t always have a complete view of their customers. And when they grow, this picture can become even more obscured—and fragmented—without anyone ever noticing. When a large bank quickly grew out of a series of mergers, it faced complex organizational challenges to streamline the combined systems and operations. Its managers were so intently focused on the keeping the business running smoothly that eventually, customer service started to slump. They knew they had to act, but with all of the new changes in place, they didn’t know where to start. That’s when we stepped in to help. Our initial breakdown of the bank’s operations showed us that it was spending a great deal on customer service. So why then, if it had been spending so much, were customers unhappy? When we dug a little deeper, we noticed a fatal flaw: customer information was scattered across several departments. This meant that not only did customers have to transfer from department to department for questions about their accounts, but also the departments themselves had only a partial view of the customer. And because the business units didn’t communicate, each would send out its own statements and marketing materials based on its sliver of customer information, costing the bank excessive time, money and resources. Not to mention frustration for its customers. When we gathered all the facts, the obvious solution was to help the bank develop a unified customer view. With one frame of reference for each customer segment, managers could clearly understand them from a holistic point of view and be able to create tailor-made services that, in turn, yield higher profits. The results? With less hand-offs, more access and better service, customer retention went up and costs went down. Happy customers, better profits and a clearer picture—that’s what we call clarity.
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