Channels as a Key Component of an Outstanding Customer Experience

by Edward O'Brien 0

Recent Mercator Advisory Group researchconducted as part of our Omnichannel Business Strategies in Banking reporthighlights just how important banking channels are to the successof the overall customer experience. This research has shown thatadvanced channels systems can be an enabler for real-time sharingof customer information, as well as a predictor for future wants,needs, and behaviors.

Part of the reason for the interest in true omnichannel execution -and not merely a restatement of multichannel banking – is the movetoward native interoperability between channel, core, CRM, andback-office business systems.

While difficult to implement, several top banks we spoke with seethis as a major strategic initiative over the next 2-5 years, and acritical way to differentiate themselves as providers of unmatchedcustomer service, no matter the channel or point of contact.

A recent Harvard Business Review blog, reinforces the spirit ofthese sentiments, and adds valuable insight, including a need tocreate an enterprise-level customer experience team, uncovering andmapping customer journeys, and appointing a chief customer officeras ways to optimize customer experience.

The movement toward omnichannel banking is just beginning.Execution will be difficult, and the journey arduous, but the endresult will be worth it. We will be revisiting and expanding onthis topic in future reports, notes, and viewpoints, and wouldwelcome your observations and anecdotes along the way.

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