Improving the Customer Experience: The Top Objective for Financial Innovation
The urgency to respond to customer demands is getting board-level attention. IDC estimates that globally the banking industry is spending almost US$120B annually to provide better omnichannel and payment customer experiences. The financial implications are imperative as market share slips quickly between companies during times of disruption.
To capitalize on delighting customers and providing next-best actions, enterprise leaders must break down back-office and front-office barriers for agile operating processes that are fluid, real-time, smart, and customer-centric. Speedy, accurate response is often the difference between disappointment and delight.
Financial sector innovators are gaining share with operating models that achieve astounding results. A consumer bank grew credit card payments by 50% in value by offering mobile ability throughout the full customer financial journey.
This analyst paper takes an in-depth look at innovative models that use new technology solutions, data, and artificial intelligence (AI) capabilities that result in:
- Decreased customer acquisition costs.
- Faster response to new opportunities.
- Faster time to market for new services.
Get all the details in this IDC whitepaper to help you capitalize on your best opportunities to delight customers.