Displaying search results for ""

Home > Customer Experience > Page 2

Banking on Success: Customer Experience Leaders Show the Way in Maveric’s Banking EDGE CX Report

Banking on Success: Customer Experience Leaders Show the Way in Maveric’s Banking EDGE CX Report

The banking sector is undergoing a seismic shift. Customer expectations are evolving rapidly, and financial institutions are upping their game to deliver exceptional customer experiences (CX) that extend beyond just transactions. Today’s customers demand seamless, personalized, and socially conscious interactions. Our latest CX Insights report sheds light on this transformation, meticulously analyzing success stories from across the markets and sectors. By learning from these established frontrunners, banking leaders can glean actionable insights and propel their institutions to the forefront of CX excellence.

Let’s delve into a few of these inspiring examples, showcasing how leading banks are delivering exceptional experiences in:

1.) Corporate Banking:

    • HSBC’s Digital Onboarding: Streamlining KYC processes with digital solutions minimizes paperwork and dropouts, demonstrating the power of prioritizing customer convenience.
    • Bank of America’s Advanced Cybersecurity: Recognizing the growing complexity of corporate transactions, Bank of America prioritizes robust security solutions, fostering trust and confidence.

2.) Retail Banking:

      • TSB’s Digital-First Model: Recognizing the shift in customer behavior, TSB’s transformation into a digital-first bank highlights the importance of adapting to online banking preferences.
      • Monzo’s Personal Finance Management Tools: Integrating AI and data analytics to offer budgeting and financial tracking tools empowers customers to manage their finances effectively.

3.) Wealth Management:

    • UBS’ Focus on ESG Investing: The surge in demand for sustainable investments is reflected in UBS’ promotion of green mortgages and sustainable home loans, demonstrating how banks can cater to evolving client priorities.
    • Morgan Stanley’s Services for Next-Gen Investors: Financial education, digital platforms, and sustainable investment options cater to the needs of millennials and Gen Z, ensuring future-proof wealth management strategies.

These success stories represent a mere glimpse into the wealth of knowledge offered in our comprehensive CX Insights report. By delving deeper, you’ll discover a treasure trove of insights, practical strategies, and best practices tailored to different banking sectors. Gain a competitive edge, build enduring customer loyalty, and become a CX leader in your domain. Download Maveric’s Banking EDGE CX Report today!

Co-authored by Ashutosh Karandikar, and Venkatesh Padmanabhachari

Maveric’s thought leadership series – E.D.G.E (Experiences Delivered by Global Experts) – handpicks the game-changing technology ideas and pressing functional questions Banks and financial institutions must solve today.

These features – reports, whitepapers, podcasts, flyers, blogs, and infographics – are for Banking leaders and Technology evangelists to apply profound trends, the latest opinions, and transformational analyses to boost the performance of their organizations.

About Maveric Systems

Established in 2000, Maveric Systems is a niche, domain-led, BankTech specialist, transforming retail, corporate, and wealth management digital ecosystems. Our 2600+ specialists use proven solutions and frameworks to address formidable CXO challenges across regulatory compliance, customer experience, wealth management and CloudDevSecOps.

Our services and competencies across data, digital, core banking and quality engineering helps global and regional banking leaders as well as Fintechs solve next-gen business challenges through emerging technology. Our global presence spans across 3 continents with regional delivery capabilities in Amsterdam, Bengaluru, Chennai, Dallas, Dubai, London, New Jersey, Pune, Riyadh, Singapore and Warsaw. Our inherent banking domain expertise, a customer-intimacy-led delivery model, and differentiated talent with layered competency – deep domain and tech leadership, supported by a culture of ownership, energy, and commitment to customer success, make us the technology partner of choice for our customers

View

Banking CX in Focus: Why Customer Experience Is More Crucial Than Ever?

Banking CX in Focus: Why Customer Experience Is More Crucial Than Ever?

Today, banking isn’t just about financial transactions; it’s about building lasting relationships. In this digital era, where choices are abundant and switching costs are low, customer experience (CX) has emerged as a vital differentiator for banks in the Retail, Corporate, and Wealth Management sectors. This blog explores why CX is more relevant than ever in banking and highlights key trends that make Maveric’s Banking EDGE CX Report is a must-read for industry leaders.

CX: The Heart of Modern Banking

  • Evolving Customer Expectations: Digital transformation has raised the bar for customer expectations. Customers now seek seamless, personalized experiences, similar to what they receive from tech giants.
  • Digital Natives and the Banking Sector: With an increasing number of GenZ & Millennials in the persona-mix, and an increasing number of digital natives as customers, banks face the challenge of meeting the tech-savvy demands of this demographic.
  • Trust and Loyalty: In a competitive landscape, fostering trust and loyalty through exceptional CX is pivotal. It’s no longer just about the best offering but about who offers the most satisfying banking journey.

Key CX Trends in Banking

Maveric’s 2023 CX Report identifies several trends shaping the future of banking CX:

  • Personalization at Scale: Using data analytics and AI, banks are now personalizing services at an unprecedented scale, understanding customer needs even before they themselves do.
  • Omnichannel Experiences: The report discusses how banks are integrating their services across digital and physical channels, offering a cohesive experience to customers.
  • AI and Machine Learning: These technologies are not just back-end tools but are front and center in enhancing customer interactions, from chatbots to personalized investment advice.

Why Maveric’s Banking EDGE CX Report Is Essential

The report goes beyond mere trend analysis:

  • In-Depth Analysis: It provides a deep dive into how these trends are being implemented in different banking sectors and regions.
  • Practical Insights and Strategies: The report offers real-world examples and case studies, showing how leading banks are successfully navigating the CX landscape.
  • Future-Ready Recommendations: For banking executives looking to overhaul or refine their CX strategies, the report serves as a guide to what works and what’s next in the world of banking CX.

Understanding and adapting to these CX trends is not just beneficial but essential for any banking institution aiming to stay relevant and competitive. Maveric’s Banking EDGE CX Report offers the insights and tools necessary to transform challenges into opportunities, making it an invaluable resource for anyone at the helm of banking strategy.

Co-authored by Ashutosh Karandikar, and Venkatesh Padmanabhachari

Maveric’s thought leadership series – E.D.G.E (Experiences Delivered by Global Experts) – handpicks the game-changing technology ideas and pressing functional questions Banks and financial institutions must solve today.

These features – reports, whitepapers, podcasts, flyers, blogs, and infographics – are for Banking leaders and Technology evangelists to apply profound trends, the latest opinions, and transformational analyses to boost the performance of their organizations.

About Maveric Systems

Established in 2000, Maveric Systems is a niche, domain-led, BankTech specialist, transforming retail, corporate, and wealth management digital ecosystems. Our 2600+ specialists use proven solutions and frameworks to address formidable CXO challenges across regulatory compliance, customer experience, wealth management and CloudDevSecOps.

Our services and competencies across data, digital, core banking and quality engineering helps global and regional banking leaders as well as Fintechs solve next-gen business challenges through emerging technology. Our global presence spans across 3 continents with regional delivery capabilities in Amsterdam, Bengaluru, Chennai, Dallas, Dubai, London, New Jersey, Pune, Riyadh, Singapore and Warsaw. Our inherent banking domain expertise, a customer-intimacy-led delivery model, and differentiated talent with layered competency – deep domain and tech leadership, supported by a culture of ownership, energy, and commitment to customer success, make us the technology partner of choice for our customers

 

View

Strategic Decision-Making in Banking: Leveraging CX Insights from Maveric’s Banking EDGE CX Report

Strategic Decision-Making in Banking: Leveraging CX Insights from Maveric’s Banking EDGE CX Report

In today’s rapidly evolving banking sector, CXOs face a daunting task of making decisions amidst uncertainty and disruption. Maveric’s Banking EDGE CX Report offers vital insights for these leaders, specifically in Retail, Corporate, and Wealth Management banking. This blog delves into how CXOs can leverage these insights for strategic decision-making.

Utilizing CX Insights for Strategic Advantage

  • Understanding Market-Specific Dynamics: The report provides detailed analysis by market (US, UK, Europe) – each analyzed along Political, Regulatory, Social, Economic, and Technology dimensions – enabling CXOs to tailor strategies according to regional trends and customer behaviors.
  • Identifying Customer Needs and Expectations: With in-depth research on evolving customer expectations, CXOs can develop strategies that are customer-centric and personalized.

Driving Innovation with Data

  • Data-Driven Personalization: The report’s insights into data analytics and AI enable CXOs to understand the power of personalization in enhancing customer experience.
  • Innovating Customer Journeys: Utilizing the report’s case studies, CXOs can redesign customer journeys, making them more seamless and engaging.

Staying Ahead with Emerging Trends

  • Navigating Digital Transformation: The report not only identifies digital trends but also offers strategic insights on implementing these technologies effectively.
  • Preparing for Future Challenges: With a focus on future trends, the report prepares CXOs to anticipate and adapt to upcoming changes in the banking landscape.

Why Maveric’s Banking EDGE CX Report is Invaluable

  • Holistic Sector Analysis: The report’s comprehensive analysis across Retail, Corporate, and Wealth Management sectors provides a 360-degree view of the industry.
  • Actionable Insights for Strategic Planning: Each insight and trend is accompanied by actionable recommendations, aiding CXOs in strategic planning and implementation.
  • Bridging the Gap between Theory and Practice: Real-world examples in the report serve as a practical guide for implementing strategies in a real banking environment.

Maveric’s Banking EDGE CX Report is more than a collection of data; it’s a strategic tool that empowers CXOs to make informed, forward-thinking decisions. By understanding and applying its insights, banking leaders can not only enhance customer experience but also drive sustainable growth and innovation in their organizations.

Co-authored by Ashutosh Karandikar, and Venkatesh Padmanabhachari

Maveric’s thought leadership series – E.D.G.E (Experiences Delivered by Global Experts) – handpicks the game-changing technology ideas and pressing functional questions Banks and financial institutions must solve today.

These features – reports, whitepapers, podcasts, flyers, blogs, and infographics – are for Banking leaders and Technology evangelists to apply profound trends, the latest opinions, and transformational analyses to boost the performance of their organizations.

About Maveric Systems

Established in 2000, Maveric Systems is a niche, domain-led, BankTech specialist, transforming retail, corporate, and wealth management digital ecosystems. Our 2600+ specialists use proven solutions and frameworks to address formidable CXO challenges across regulatory compliance, customer experience, wealth management and CloudDevSecOps.

Our services and competencies across data, digital, core banking and quality engineering helps global and regional banking leaders as well as Fintechs solve next-gen business challenges through emerging technology. Our global presence spans across 3 continents with regional delivery capabilities in Amsterdam, Bengaluru, Chennai, Dallas, Dubai, London, New Jersey, Pune, Riyadh, Singapore and Warsaw. Our inherent banking domain expertise, a customer-intimacy-led delivery model, and differentiated talent with layered competency – deep domain and tech leadership, supported by a culture of ownership, energy, and commitment to customer success, make us the technology partner of choice for our customers

View

Decoding the Future of Banking CX: Exclusive Insights from Maveric Banking EDGE CX Report

Decoding the Future of Banking CX: Exclusive Insights from Maveric Banking EDGE CX Report

Maveric’s Banking EDGE CX Report is a vital tool for senior leaders in Retail, Corporate, and Wealth Management banking sectors. Here’s what’s in it for you:

  • Tailored Structure: Insights are expertly categorized into markets and sectors, offering a granular look at CX in banking.
  • Comprehensive Market Analysis: Covering political, regulatory, social, economic, and technological/ platform interplays in each market.
  • Real-World Applications:The report is interspersed with brand-specific case studies and success stories making the insights actionable and relatable.

Global CX Insights

Market Insights summary

  • United States: Focus on digital adoption and customer-centric strategies amidst regulatory and economic flux.
  • United Kingdom: Digital solutions in the post-Brexit era, fintech promotion, and the significance of regulatory sandboxes.
  • Europe:The importance of adaptability in diverse banking cultures, with a spotlight on mobile banking solutions.

Sectoral Insights summary

  • Retail Banking: Evolution towards real-time, personalized, omnichannel experiences.
  • Corporate Banking: Shifts towards digital solutions, enhanced data security, and client-centricity.
  • Wealth Management:The balance between personalized advice and tech innovations, with an emphasis on AI-driven asset management.

Regulatory Insights and Impact

The report delves into regulatory trends shaping the banking sector:

  • Global Regulatory Dynamics: How geopolitical events are influencing banking regulations and compliance requirements.
  • Impact of Regulations on CX: Understanding how new regulations like DORA, PSD2, MiFID II, etc. are affecting customer experience strategies.
  • Adapting to Regulatory Changes:Insights into how banks can navigate these changes while enhancing their CX, citing brand specific success stories across various regions

For leaders in banking, Maveric’s Banking EDGE CX Report is more than just a collection of data; it’s a strategic guide. It provides a comprehensive overview of the challenges and opportunities in the CX landscape, offering actionable insights for adapting and excelling in today’s dynamic banking environment.

Co-authored by Ashutosh Karandikar, and Venkatesh Padmanabhachari

Maveric’s thought leadership series – E.D.G.E (Experiences Delivered by Global Experts) – handpicks the game-changing technology ideas and pressing functional questions Banks and financial institutions must solve today.

These features – reports, whitepapers, podcasts, flyers, blogs, and infographics – are for Banking leaders and Technology evangelists to apply profound trends, the latest opinions, and transformational analyses to boost the performance of their organizations.

About Maveric Systems

Established in 2000, Maveric Systems is a niche, domain-led, BankTech specialist, transforming retail, corporate, and wealth management digital ecosystems. Our 2600+ specialists use proven solutions and frameworks to address formidable CXO challenges across regulatory compliance, customer experience, wealth management and CloudDevSecOps.

Our services and competencies across data, digital, core banking and quality engineering helps global and regional banking leaders as well as Fintechs solve next-gen business challenges through emerging technology. Our global presence spans across 3 continents with regional delivery capabilities in Amsterdam, Bengaluru, Chennai, Dallas, Dubai, London, New Jersey, Pune, Riyadh, Singapore and Warsaw. Our inherent banking domain expertise, a customer-intimacy-led delivery model, and differentiated talent with layered competency – deep domain and tech leadership, supported by a culture of ownership, energy, and commitment to customer success, make us the technology partner of choice for our customers

View

A Sneak Peek into the Future of Banking: Technologies and Platforms Shaping CX

A Sneak Peek into the Future of Banking: Technologies and Platforms Shaping CX

The banking sector is experiencing a metamorphosis driven by a relentless focus on customer experience (CX). Traditional models are giving way to a tech-centric approach, where innovative platforms and powerful technologies are transforming every aspect of the customer journey.

This transformation is about delivering seamless, personalized, and efficient experiences at every touchpoint, thereby helping firms compete and grow efficiently in a highly competitive market facing uncertainty and disruptions (political, social, technological, economic).  Let’s delve into some of the key technologies and platforms that are leading this revolution:

Tech-Landscape

Top Technologies Shaping the Future of Banking CX:

1) AI and Machine Learning (ML):

AI and ML are revolutionizing banking by automating tasks, personalizing recommendations, and safeguarding customer data through advanced fraud detection.

2) Hyper-Personalization:

Customers today expect experiences tailored to their unique financial goals and preferences. Hyper-personalization utilizes advanced analytics and AI to deliver real-time product recommendations, understand customer behavior patterns, and anticipate future actions.

3) Blockchain:

This secure and transparent technology offers immense potential for the banking sector.  Imagine faster cross-border payments with tamper-proof records – blockchain facilitates this with its decentralized ledger system and smart contract capabilities.

4) Process Automation (RPA):

Streamlining operations and reducing costs is crucial in a competitive landscape. Process Automation (Combination of RPA, BPM, Document Processing technologies & platforms) automates repetitive tasks such as account opening or loan processing, freeing up human resources to focus on higher-value activities and enhance customer service.

Platforms Empowering Exceptional Customer Journeys:

1) Customer Journey Orchestration Platforms:

These platforms provide a micro view of individual customer journeys, enabling banks to deliver real-time, personalized experiences across various touchpoints, be it mobile apps, online banking, or physical branches.

2) Digital Banking Platforms:

From online banking and mobile banking to fund transfers and bill payments, digital banking platforms offer unparalleled convenience to customers and significantly reduce operational costs for banks.

3) Customer Experience Management (CXM) Systems:

CXM platforms go beyond traditional CRM systems by focusing on the entire customer experience across all touchpoints.  They gather customer feedback, analyze behavior patterns, and offer insights to optimize services and interactions for enhanced customer satisfaction and loyalty.

4) Open Banking Platforms:

These platforms foster collaboration and innovation by allowing secure data sharing between banks and third-party providers. This integrated approach creates a holistic financial experience for customers with a wider range of financial products and services under one umbrella.

The Human Touch and Tech: A Winning Formula for the Future

While technology will continue to play a crucial role in shaping exceptional customer experiences, the human touch remains irreplaceable. Banks that can seamlessly integrate the two, staying adaptable and responsive to market and sectoral changes, will lead the next era of banking. The journey towards enhanced CX is ongoing, but with the insights and trends highlighted in this report, banking leaders are well-equipped to navigate the path ahead.  Maveric’s CX report empowers them to embrace the future of CX, crafting a winning formula that blends the power of technology with the irreplaceable value of human connection.

Co-authored by Ashutosh Karandikar, and Venkatesh Padmanabhachari

Maveric’s thought leadership series – E.D.G.E (Experiences Delivered by Global Experts) – handpicks the game-changing technology ideas and pressing functional questions Banks and financial institutions must solve today.

These features – reports, whitepapers, podcasts, flyers, blogs, and infographics – are for Banking leaders and Technology evangelists to apply profound trends, the latest opinions, and transformational analyses to boost the performance of their organizations.

About Maveric Systems

Established in 2000, Maveric Systems is a niche, domain-led, BankTech specialist, transforming retail, corporate, and wealth management digital ecosystems. Our 2600+ specialists use proven solutions and frameworks to address formidable CXO challenges across regulatory compliance, customer experience, wealth management and CloudDevSecOps.

Our services and competencies across data, digital, core banking and quality engineering helps global and regional banking leaders as well as Fintechs solve next-gen business challenges through emerging technology. Our global presence spans across 3 continents with regional delivery capabilities in Amsterdam, Bengaluru, Chennai, Dallas, Dubai, London, New Jersey, Pune, Riyadh, Singapore and Warsaw. Our inherent banking domain expertise, a customer-intimacy-led delivery model, and differentiated talent with layered competency – deep domain and tech leadership, supported by a culture of ownership, energy, and commitment to customer success, make us the technology partner of choice for our customers

View