Enhancing and Restoring Safety & Quality Cultures - Dave Litwiller - May 2024...
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Retail Banking and Social Media - Customer Experience Management Services
1. BANKING & CAPITAL MARKETS
Customer Experience
Management Services
Stay Ahead of Your Customer’s Need
9th Annual Pan-European Retail Banking Conference
24 May 2012
2. • Commoditization has
stripped away existing
sources of differentiation.
• Customers have more
power than ever.
• Traditional industry
boundaries are fading
Customer experience is the next
competitive battleground
24 May 2012 | 2 BANKING & CAPITAL MARKETS
3. The way customers consume information
and communicate has changed
Vertical
Before
communication
Current Multi-lateral
communication
24 May 2012 | 3 BANKING & CAPITAL MARKETS
4. Many banks are invested in customers,
few are engaged...
Laggards Market Leaders
Percentage of Organizations across
Maturity Levels
2011
Customer
Experience 2009
Management
Top Bank in the US hired 12 resources just
to mine twitter
Invested Committed Engaged Embedded
Interested Invested
or Engaged?
24 May 2012 | 4 BANKING & CAPITAL MARKETS
5. It’s a Journey, Not a Project !!!
24 May 2012 | 5 BANKING & CAPITAL MARKETS
6. Technology spaghetti
• There are 250 + Well known Social Sites
• 800+ Social Listening Technology Products
• 100+ Analytics Tools
• 200+ Digital Marketing tools
• 80 + Technology Products focused on
customer experience and many more…
IT’S COMPLEX
&
POSES HIGH RISK OF FAILURE
24 May 2012 | 6 BANKING & CAPITAL MARKETS
7. It’s a complex ecosystem, with many
opportunities
Reduce cost of
servicing using our 10 Fold profitable
integrated product
response recommendations
management
offering
360 Degree
Customer Increase leads up
Insight to 3
Improve Bring innovation times/customer
Net in products and
Promoter services by social
Score 50+ idea
management
Enhance
Reduce support customer lifetime
cost by building a value
comprehensive Multichannel
knowledge Business
repository Enablement
Reduce call
Finer targeting
volumes by
through Digital
Co-create 30% by using
Marketing
customer our self service
offering
experience by solutions
building a social
business
24 May 2012 | 7 BANKING & CAPITAL MARKETS
8. The mantra of co-creation
RESPOND
Execute tactical &
strategic projects
ANALYZE
Perform analysis &
make decisions
LISTEN
Monitor & build
intelligence
PLAN
What do you want to
achieve?
24 May 2012 | 8 BANKING & CAPITAL MARKETS
9. MphasiS
UK
France
Belgium
Ireland
Netherlands
Germany
Canada Switzerland
Poland India
USA China
Japan
•Revenue FY 2011 – Sri Lanka
$1,116 million Singapore
•38,000+ Professionals
•545 Clients
Australia
•Deliver Applications, BPO Noida
and IT Infrastructure (Delhi)
Management Services New Zealand
Ahmadabad
Vadodara Indore
Raipur
Mumbai
Pune
Mangalore Bangalore
Chennai
Pondicherry
India Center (BPO)
Delivery Footprint
Global Service Center (ITO & APPS)
Client Footprint
Training Academy
24 May 2012 | 9 BANKING & CAPITAL MARKETS
Use the JPMC Example: JPMC has the intention to listen to customers on social channels and have invested in hiring 12 full time employees, but due to human limitations and bounded rationality they can not engage effectively with customers on social channels. This is a costly affair for JPMC. In the recent Temkin ranking, JPMC was rated 89th in customer experience. Being the top bank in US, they should be the leaders in this space.We MphasiS with our Social Business Platform + BPO can help make that jump
We could swap 5 and 6. This slide tells that there are so many things to consider that its better banks let us manage it, as this is our job.
The complexity of the eco-system is depicted here. The various components of the target model provides various benefits. Prime one being Net Promoter score, as it is the index of customer satisfaction.
The blueprint of our offering. Operates under the philosophy of Listen->Analyze->Respond in order to help Fis co-create top class customer experienceListen is where we monitor and converge information Analyze is where we develop intelligence and insightRespond is where we take action..