New Customer Experience Enhancement

Competition in retail banking has increased significantly—offers for free checking and online bill payment no longer guarantee continued growth in the retail customer base, and customer attrition continues to plague financial institutions, with some banks experiencing 25-30% attrition of new retail checking customers within the first year.

An industry leader in developing customer experience strategies for retail banking organizations, we have leveraged our experience and expertise to create several solution offerings, including:

• Customer Experience Diagnostic: Assessment of processes related to new account opening, account fulfillment and on-boarding, and evaluation of the customer experience across all distribution channels.
• Customer Experience Strategy: Definition of the target experience to be provided across customer interactions and delivery channels, and linkage to your brand strategy and customer value proposition.
• Switch Service Design: Development and support of programs to assist new customers with switching recurring electronic payment activities, and promotion of desired payment behaviors.
• On-Boarding Program Development: Design and implementation support of structured programs to strengthen relationships with new customers.

To learn more about our Customer Experience Enhancement solution, please click here.

We have advised many leading financial services organizations:

- Payment strategy development with 8 of the top 10 U.S. banks

- Retail banking strategy (pricing, distribution, and account retention)

- Strategy, research, and pricing analysis with some of the largest EFT networks and card associations

- Market research and strategy for the U.S. Treasury and the Federal Reserve Bank

- Market analysis and strategy development with leading payment processors

- Product development
with ATM manufacturers and payment providers

- Market research studies spanning consumers, merchants, and financial institutions

- Expert testimony in litigation