Digital is the new oil. Like the black slimy stuff that oozes out the ground, all those 1s and 0s is of no use unless processed into something more valuable. That something is customers.  How can banks push the boundaries of customer experience and capture customer mindshare? Evolving from ‘Share of wallet’ to ‘Share of mind’: Customer mindshare not only takes customer experience about actual products and services into account, but also bank’s physical footprint, digital experience and impact of bank’s marketing efforts. Here are some key components which can determine the bank’s ability ..read more

Cutting costs, gaining pricing power and cross selling products is the Holy Trinity life insurers are after. Digital is enabling insurance companies to deliver delightful customer experiences through journeys that are simple, quick and convenient. It eliminates misspelling, boosts transparency and empowers customers to get quotes and buy, manage, and renew policies online by themselves through self service. How can life insurers get ready for digital? 1. Flexible omni-channel journeys:  End to end digital journeys is all about context, choice and continuity. With intelligent digital cust ..read more

Digital has empowered customers to have access from pizza to music tutorials in a few taps. Why should financial services be any different? Today, ‘instant’ is a customer habit. How can banks and financial make digital account opening Simple, personalized and fast ..read more

Customers and financial providers can agree on one thing. Credit cards are the most magnificent invention of the century. In this age of instant fulfilment, customers love impulse purchases. But the thrill can turn into a disappointed spill without the right credit card. Getting a credit card to a customer traditionally took weeks. Digital buying journeys take seconds. This can be empowering to financial services where a recent poll found that 85% of customers expect instant credit card application approvals from their providers. Here’s how digital customer journeys for credit card acquisitio ..read more

When the chronicles of the COVID 19 pandemic are written, a whole book will surely be dedicated to the galloping strides digital adoption has taken. Feature rich digital platforms are now a basic need. Customers are demanding greater omnichannel integrations, that delivers a continuous experience seamlessly across channels and touchpoints. A Mckinsey survey, sampling more than 3500 customers, found that Net Promoter Score (NPS), which measures willingness of customers to recommend a company’s products or services to others, is significanly higher for financial services with extensive digital ..read more

Top business leaders are afraid of two things: big swings in their stock prices and big swings in customer satisfaction levels. The former may or may not be in their control, but the latter can definitely be controlled and boosted by linking end to end customer experience journeys to business outcomes. Many businesses claim to listen to the customer but in reality, they are tone-deaf. This creates a formidable building block for a successful customer-focused digital strategy. How can you proactively listen to your customers? 1. Go beyond touchpoints  and focus on customer  journey ..read more

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Simpler the processes, happier are the customers. But, it’s easier said than done. Financial executives are working towards creating a perfect, continuous customer experience that rides on digital. They are striving to deliver targeted, cross channel, just in time product buying or service journeys.  As credit cards are one of the most popular, profitable, consistent growth products for financial institutions, it makes sense to design convenient, effective seamless credit card journeys. Age of self-service: For customers, today is the age of instant fulfilment. T ..read more

For the first time in decades, insurers are playing a tune that the customers can whistle. Insurance companies are increasingly embarking on digital transformation that smartly optimizes digital journeys and backoffice processes with the sole aim of delivering simple and quick claims services.  Here’s how insurers can unleash truly transformative digital claim journeys.  1. Prevention First Advanced sensors on products such as vehicles can identify high risk scenarios beforehand. Customers can be advised of safest routes, best safety practices on their mobile. Responsible customers ..read more

Win the battle of ‘customer mindshare’ with digital journeys. Digital is the new oil. Like the black slimy stuff that oozes out the ground, all those 1s and 0s is of no use unless processed into something more valuable. That something is customers.  How can banks push the boundaries of customer experience and capture customer mindshare? Evolving from ‘Share of wallet’ to ‘Share of mind’: Customer mindshare not only takes customer experience about actual products and services into account, but also bank’s physical footprint, digital experience and impact of bank’s marketing efforts. Here are so ..read more