Items tagged "Customer centricity"
Read about our views on marketplace changes as well as updates on our research and event programmes.
We’ve had some great media coverage of our new report ‘What are banks for? Customer Loyalty in Retail Banking’.
Banking Technology highlights the ‘Race to build customer-centred banking is on’ and the report’s findings that ‘the banks surveyed by the study rated the importance of information-driven services to customer loyalty very highly, at 8.2 out of 10.’
Information Age reports ‘banks see information-driven services as a way to improve loyalty’ and carries a quote from Ctrl-Shift Strategy Director Alan Mitchell, "The first wave of online banking was really just a sort of digital version of what you…
We’ve completed our major research project looking at customer loyalty in retail banking. The report, ‘What are banks for? Customer Loyalty in Retail Banking’ is compelling reading for anyone who wants to understand what customer loyalty means for banks in today’s digital economy.
We knew the research subject was ‘of the moment’ when we gained immediate interest and involvement from senior directors in the UK’s big four retailing banking groups, both big and small building societies, new market entrants and pure play internet banks.
The findings are significant for an industry under pressure to improve customer focus and agility:…
Loyal customers are the bedrock of business and the benefits of loyalty are well understood. But what does customer loyalty actually mean in today’s changing environment, what are the drivers and factors that determine loyalty, and what are the opportunities for those who are getting it right?
These are the key questions we are asking as we initiate a board level strategic study into the changes affecting customer loyalty in banking. Here’s a little more about what we are doing and why.
The shifting sands of customer loyalty
Loyalty currently suffers from confused terminology. People use the ‘L’ word to…
In this newsletter we cover our new report on the identity assurance market, hot off the press this week. We also give you a preview of our forthcoming research on customer loyalty, an update on the recent World Economic Forum Re-thinking Personal Data meeting in London, and close with a smattering of market news.
Identity assurance. We’ve now published our report on the UK identity assurance market. We think that the path the Government is on, a truly citizen-centric one, could cause serious disruption in the long-term. Even in the short-term the money being put into the…
Our midata event takes place tomorrow and we wanted to say thank you to our sponsors Mydex and Callcredit for supporting us. Both organisations provide revolutionary services embracing and underpinning the new personal data landscape.
Tom Ilube from Callcredit will be giving an update at the event on Noddle a ‘poster child’ of midata. The service simply turns the existing personal credit rating on its head. Usual practice for credit reports is that they are requested by the credit provider at the end of a sales process. But when it is launched later this year, Noddle will allow any…
In this month’s issue we highlight our new briefing paper on the government’s Identity Assurance programme, give an update on progress with mydata, and cover the knotty issue of informed consent. This is all followed by a quick round-up of some interesting market news.
Instead of establishing a huge, centralised National Identity Scheme, the aim of the government’s Identity Assurance programme is to establish a decentralised market of competing private sector identity providers. Each will provide an identity assurance service, so that public sector and other providers can be confident of the identity of…
I’ve had some interesting discussions recently about customer centricity. Some thoughts spring to mind.
First, ‘customer centricity’ has become an Alice in Wonderland word which different people use to mean whatever they want it to mean. Depending on who you talk to for example, customer centricity can revolve around:
- Structural change: organising reporting lines, product lines, business units or sales structures around customer segments
- Culture change: becoming less inward looking and more ‘customer focused’, ‘putting the customer first’, ‘going the extra mile’
- Another word for CRM: building marketing, service etc around customer data held…