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Customer Experience – How Service Focused Banks Measure Their Performance

South State Correspondent

It is no surprise that these banks not only have higher customer experience performance but have a higher return on equity numbers. A better customer experience means less churn, a longer account life, more repurchases, more cross-sell, lower operating cost, greater trust, and more forgiveness.

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The Customer Experience: 14 Ways To Better Understand Your Bank Customer

South State Correspondent

The reality is that banks don’t think from the customer’s perspective enough. The customer experience is horrible for many bank processes. Not understanding your customer can lead to a brand and products misaligned with the customer’s needs resulting in an erosion of a bank’s competitive position.

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The Customer Experience: 14 Ways To Better Understand Your Bank Customer

South State Correspondent

The reality is that banks don’t think from the customer’s perspective enough. The customer experience is horrible for many bank processes. Not understanding your customer can lead to a brand and products misaligned with the customer’s needs resulting in an erosion of a bank’s competitive position.

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Retail KPIs Get Worked Over For Customer Experience

PYMNTS

While retailers have to be concerned about comparative sales, consumer spend and ticket size, Christine Moorman , a Fuqua marketing professor and director of the prestigious annual CMO Survey , believes those should be only part of – not all of – the series of KPIs that drive any eCommerce or brick-and-mortar retail business.

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Burger Intelligence: Shake Shack AI Takes Ordering, Customer Experience To The Next Level

PYMNTS

Some experts even predict that these shifts will be permanent, meaning there could be long-term implications for restaurants’ customer engagement strategies in the future. Shake Shack On Leveraging AI, ML To Drive Customer Experience. For more on these and other stories, check out the Trackers News & Trends section.

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Forrester finds financial companies top retailers in customer experience

Bank Innovation

Although banks are not known for exceptional customer service, a Forrester Research survey released this week shows they’re making progress. For the second consecutive year, Navy Federal Credit Union and USAA topped Forrester’s Customer Experience Index across industries, ahead of retailers like Lexus, QVC, Zappos and Amazon.

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Survey: When Do Fraud Controls Ruin the Customer Experience?

FICO

The rapid rise of scams and other crimes, as well as the increasingly diverse methods used by fraudsters, has only increased the pressure for banks to protect customers from scammers and detect early signs of fraudulent behaviour. This view is also held by bank and card customers around the globe (72%). by Matt Cox.