Among several sectors experiencing a transformation, it is banking that is right at the centre of this change. They need to work in an environment of strict regulation, newer competitors and fickle customers. Transforming the customer experience is now a key tenet all working on. This is proving to be an equally potent force as an efficient process or even a superior product would do. Newer companies are joining in to this bandwagon, such as Amazon Cash, Alipay and Facebook Messenger P2P. The transformation programme needs to be durable in the medium to long run. Customer experience needs to be aligned to value. Talent recruitment must be geared towards building a cross- functional team, but with the backing of the top leadership. The customer needs to be at the centre of all this transformation. Agility is a must to ensure scalability.

Source:https://www.mckinsey.com/industries/financial-services/our-insights/managing-a-customer-experience-transformation-in-banking

Uploaded Date:07 June 2019