Nowadays, Financial Services industry, from banking and insurance providers, is facing challenges as consumer expectations and customer experience frequent changes; leading to increasing pressure from competition because consumers are open to change if institutes didn’t meet their needs. Banks now look to continuously focus on customer retention and increase loyalty, through various strategies.
With digital banking and online insurance process taking over the lead on the customer interactions, financial services institutes have to digitize most of the processes to keep it simplified for customers’ on boarding, transactions, transfers and other activities.
At Coberg, we look at how financial services institutes can shorten customer service journeys and enhance their internal processes to meet the current demand and evolving customer needs.
Data-driven culture matters. Being objective about processes and what to digitally transform matters. Enterprises that implements a data culture will stay true and objective about their business problems; being able to answer questions like what is the problem? what can be done to solve it? – most of the enterprises nowadays have lots of data but this doesn’t mean that it means something. To use the data, you need to have solid foundation, and to have a solid foundation, you need to use the data creatively.