Customer Centricity Analyst Report - Edition 2

The challenges and enablers for Successful Customer Outcomes in financial markets

‘Around 80 per cent of CEOs think their companies produce a superior product or service but only about eight per cent of their customers agree.’ - Steve Towers, senior VP at not-for-profit organisation BP Group.

The essence of being customer-centric in any industry is to look at the customer as central to an organisation’s actions. Banks have invested in trying to be customer-centric, but the poor results are far too apparent. Poor initial service is accentuated by poor responsiveness when things do go wrong.


In this new 2nd edition of our Customer Centricity Analyst Report, we explore where the industry has gone so far, and what it has really achieved in its search for customer centricity. We tackle the elusive definition of what ‘customer centricity’ actually is, we analyse the drivers and objectives for becoming customer-centric, and we evaluate the pitfalls and offer examples of best practice.

Instead of trying to make each process and product within a financial organisation ever more efficient, leading banks are looking at:

• Creating shared services that can be used across the organisation
• Centralising services through ‘centres of excellence’
• Replacing existing platforms and unifying systems infrastructures
• Initiating enterprise-wide transformation and re-engineering programmes
• Truly driving these programmes from the perspective of customer interaction and Successful Customer Outcomes (SCO).

‘There is nothing so needless as doing efficiently that which shouldn’t be done at all.’ – Peter Drucker

Crucially, this new edition refers throughout to real-life examples of customer centricity in action from a diverse range of organisations including:

• Bank of Queensland
• First Direct
• SBAB
• MDMSB and FINO.

Any financial institution seeking to improve its customer services, marketing effectiveness and profitability, should read Customer Centricity, Edition 2. It will also be a vital resource for all financial technology suppliers keen to accomplish new product development goals, as well as any consultants in need of timely and in-depth market analysis from a leading independent source.

Table of Contents

• Introduction
• Customer centricity: What is it?   
• Different views of the customer   
• Why be customer-centric – is it important to banks?   
• Reacting to the competitive threat   
• A rapidly changing and connected world   
• But it’s only one aspect   
• From a theoretical model to a practical approach for customer centricity   
• Why can’t one model fit all banks?   
• Where have we been? Where are we now?   
• The problem with CRM is…   
• CRM Phase Two   
• Where are we going?   
• Right products   
• Personalisation versus standardisation   
• What have been the problems?   
• Organisation – maybe the real problem   
• Even large banks can achieve a lot, occasionally   
• Your data or mine?   
• Processes realignment   
• Reusability   
• Re-engineering   
• Outside-in – Successful Customer Outcomes   
• How are we doing? The metrics issue   
• Customer versus product profitability   
• Who has done it effectively? Examples of banks that are customer-centric   
• Bank of Queensland   
• First Direct   
• SBAB   
• MDMSB and FINO   
• Conclusion

New Digital Edition Format

This title is available in Our new Digital Edition format. Key features include:

• Powerful keyword search facilities
• Print facility - you can print up to 100% of a title’s pages each year (designed for targeted printing of content*)
• Copy and paste facility - you can reference up to 100% of a title’s content each year in your strategy and business documents (subject to copyright and source must be attributed)
• Bookmark key chapters and pages
• Clear layout and navigation
• Environmentally friendly
• All powered by Adobe Digital EditionsTM and DX Reader technology.

*Please note, the above print and copy privileges are renewed every 12 months and are designed for targeted printing (we recommend between 1-5 pages at a time).

Format: A4, 48 pages, Digital Edition, eLibrary

Publication date: September 2010

ISBN: 978-1-904778-55-4

HOW TO ORDER
Online: Add titles to your cart (see below)      Tel: +44 (0) 1303 262 636
Email: publications@ibsintelligence.com        Fax: PDF order form



When ordering online, please enter a VAT ID number (EU customers only) in your account/shipping address. Dollar and Euro prices are indications. Orders placed using our secure payment facility will be charged in £GBP. Currency conversions are handled by your credit card issuer. To pay in Euros or Dollars please contact us (details above).