2. CIBC- Biggest issues
1. Online service and website management (update)
2. Resolving complaints
3. Utilizing social media to form relationships with customers.
3. ADVICE 1- CENTRALIZED INFORMATION
SYSTEM ACROSS ALL BRANCHES
WHY?
Customer information is not integrated across all branches
Little information available to front line employees- Transactional
Customers have to verify
Original branch might be too far off
4. STATISTICS
CIBC ranked
2nd in the mobile banking arena with a service level index of 80%.
5th in terms of Online service with a service index level of 60%
14th in terms of overall service with a Service Level Index of 45% (overall
financial industry)
Surviscor.com 2014
5. SOLUTION
CIBC only uses 2 systems to gather and store customer information and they’re
both internal system – CIBC Relationship Manager
“Different levels of accessibility to customer information within CIBC which provides the
security and protection needed today by customers”- CIBC Relationship Manager
A centralized information systems for information to be accessible to other
branches with security in place to protect customer information from
unauthorized access is our SOLUTION.
6. BENEFITS
Flexibility attracts more customers and keep customers happy! (Every branch
feels like home branch)
Hassle free & quick banking!
7. ADVICE 2- USING TOUCH POINTS- PETS TO BOND
WHY!
People love their pets!
Relevant touch point (See statistics!)
8. STATISTICS
Overall Canada is home to roughly 5.9 million dogs and 7.9 million cats.
9% of Canadians owned other types of pets, including fish, birds, small
mammals and herptiles” Government of Alberta (2015)
The Rising Costs of Health Care—for Cats and Dogs - Bloomberg Business
Customers could use the help
9. SOLUTION
• Forms a bond with the customer
• Pet friendly branches can encourage people to come in more often
• Loyalty cards like the SCENE Scotia bank, Petro Canada card can be
introduced for pets where points can be redeemed towards grooming pets
10. BENEFITS
• Expensive to groom and keep pets, additional help for the customers!
• Pet happy = Customer happy
• Interesting point of conversation for front line employees
11. ADVICE 3- Interactive online customer service
Situation
Cashless payments and
money transfers delays
Poor quality service of
the online banking
Poor interaction with
clients (suggestion and
complaint response) Solution
Separate department to
monitor and manage
social media activities
and traditional
marketing functions
Benefits
Customers are given the
needed and full attention
required to solve any
specific problem
Reduce the response time
from the currently 2-3
business days reply to
real time response
Ultimately improves
customer satisfaction
12. ADVICE 4- Creating A Friendly And Appealing Internal
Environment For Customers
Situation
Internal atmosphere not
appealing
Absence of the Wi-Fi in
branches
Old fashioned design in
branches
Solution
Provision of Wi-Fi
Provision with customer
friendly atmosphere
Self-assistance services-
providing clients with
high tech devices to
resolve simple tasks and
requests.
Benefits
Allow customers to
feel comfortable while
waiting to be
responded to
A friendly climate can
facilitate an emotional
bond to the bank
Provision of Wi-Fi can
facilitate self-service –
can reduce wait time
13. How can we help?
1. Loyalty Card (E.g. Air miles, Petro Points, SCENE card)
2. Predictive Analytics tools
Concerned with the prediction of future probabilities and trends. Transactional, behavioral and even social
media activities can be referred to.
3. 360 view of the customers
Aggregating data from the various touch points that a customer may use to contact a company to purchase
products and receive service and support
Using social media listening (Google Alerts) and predictive Analytics to determine what customers may
research or purchase next
