Adjusting to meet new demands across central functions

Kate Cordell, Client Director

In retail banking transforming the customer experience is essential to driving customer engagement and take-up. Digitising end-to-end customer journeys is a well-established approach to that transformation whereby technology can de-risk the journeys through the use of automation to limit the risk of human error. Technology can provide operational feedback loops: helping the business functions to further monitor, assure and improve the customer journey. Lastly technology can help reduce the complexity of serving customer demands.

Empowering central functions in this way can positively affect operational excellence: making the customer experience increasingly more positive and providing a distinct competitive advantage by increasing customer engagement and penetration. But how exactly do you do it successfully?

Harnessing the power of insight

Technology and automation can de-risk the customer journey by reducing human error and the complexity in addressing your customers’ needs.

However, this is only part of the picture. Improving the customer experience and overcoming any pain points requires an accurate and detailed map of the end-to-end customer journey; this should be regularly validated by representatives of both the customer and internal operations, with insights fed back into an improved map.

Whenever changes to your services are implemented or new business propositions are brought to market, it is important to evaluate and understand the resulting effects. Our behaviour-driven test models can provide insights into customer behaviour, usage patterns and preferences at every stage of their journey. Our processes enable you to accurately determine whether the service is aligned to customers’ needs. Through crowdsourced testing with real customers or close proxies you are able to see how effective these test models are; whether they achieve the goal of embedding quality from the start and whether they reduce friction in the change process. By embedding continuous Quality Assurance (QA) at every stage your bank will be able to move faster on its transformation journey – with confidence in accruing value along the way and achieving the planned business and customer outcomes

This is an excerpt from our latest report: Preparing for tomorrow, today. Download your copy here.