Big banks tend to make the best first impression. Bank’s potential clients who value more rewarding customer experience are currently more likely to choose a big bank. This article shows how to balance this trend.
A joint research paper by RateWatch and IntelliShop has compared how financial institutions interact with their potential customers. After the first visit to a big bank (with over $10 billion in total assets) 42% of survey participants felt confident that this bank would be the right choice, compared to just 30% who have said the same of the credit unions and 22% at the small banks. This discrepancy between first impressions was caused by different approaches towards the customer: from greeting customers at the entrance to providing the most suitable financial product.
Financial institutions of any size can achieve a better customer experience while still maintaining profits. And certainly, a strong first impression is just one dimension of this new customer-centric approach. These four questions are designed to evaluate customer service in your financial institution and define directions for further development.
These are very important questions to ask before moving on with further changes. According to the 2012 BI and Information Management report by InformationWeek 59% of organizations using business intelligence tools say accessing relevant, timely or reliable data is their biggest impediment. At Scorto, we dedicate significant efforts to tailor our solutions to our client’s business goals, and the questions outlined above are just a few of those discussed during the initial business analysis sessions.