A competitive edge, built in.
Financial Services companies are being challenged to do more for customers: build intuitive digital platforms, offer personalized experiences and deliver exceptional customer service whilst maintaining operational efficiency. This demand has brought about a shift towards enhancing the customer experience in financial services.
All this against a backdrop of regulatory pressures, unsettled economies and rapid technological advancement which emphasizes the need for cx transformation in financial services.
When expectations are high and the competition fierce, investing in your customers’ love and loyalty is the most effective and efficient way to gain an unparalleled advantage. This strategy is at the heart of customer experience management in financial services.
In the Financial Services industry, CX leaders have their fair share of challenges. They need to make sure everyone in the company is on board to provide top-notch customer experiences, but it's not always easy when resources, such as budget, staff and comprehensive customer data, are limited.
NPSx℠ by Bain & Company provides the tools and technologies to help you and your CX team manage change, prove the worth of CX efforts and keep employees engaged and well-trained. Through our platform, we aim to revolutionize the customer experience in financial services.
Our world-class tools and technologies bring together the best of Bain's customer-first thinking, packaged in a simple and accessible way.
Our CX Roadmap and Accreditation product enables organizations to identify improvement opportunities, gain evidence-led insights for prioritizing investments, and benchmark their Customer Experience in financial services capabilities against global peers.
With CX Training, we engage all employees in the process of customer advocacy, providing customized learner journeys to develop deep CX for financial services expertise.
Through our CX Data, Insights, and AI offering, financial services companies can turn data into profit by utilizing Kinetics℠ AI as a single source of truth, going beyond survey data to understand customer sentiments, and seamlessly harnessing the full potential of customer experience in financial services with advanced AI and machine learning.
Additionally, our CX Communities connect professionals in the financial services industry with a global network of CX experts and practitioners through our digital community, including membership to the NPS® Loyalty Forum, where knowledge sharing and best practices advancements lead to new levels of customer love and loyalty.
NPSx℠ by Bain & Company is a comprehensive training and technology solution designed to help financial service companies enhance their customer experience.
It includes tools for data analysis, journey mapping, training for your teams, and other features aimed at improving overall customer satisfaction and loyalty.
Learn more about NPSx℠ here
Training your team to excel in customer experience is vital for financial institutions as it ensures they have the skills and knowledge to deliver exceptional service. A well-trained team can create positive customer interactions, build trust and loyalty, increase customer satisfaction, and ultimately drive the success and growth of the institution in a competitive market.
NPSx℠ courses are backed by Bain & Company's extensive experience, including over 3,600 Net Promoter System® and CX projects across regions and industries.
The courses incorporate the best practices and methodologies from Bain's learning approach, ensuring high-quality content and effective learning experiences.
Participants gain access to an online community of peers and expert practitioners, providing a platform for knowledge sharing, problem-solving, and support from CX leaders within Bain and beyond.
With only a small percentage of users responding to surveys, Kinetics℠ AI utilizes advanced machine learning analytics to fill feedback gaps, predict CX program ROI, and gain valuable insights into customer journeys.
Utilize AI and predictive NPS (pNPS) to gain additional insights into customer journeys and identify what makes a delighted, financially healthy customer before they tell you in a survey.
Investing in Net Promoter Score (NPS) and customer experience management platforms is crucial for financial services due to the widespread unbundling of banking services and the rise of digital-native banks. Lower-income consumers, previously underserved by traditional banks, now have access to neobanks and online companies.
To counter fragmentation, banks need to focus on providing a better digital experience and personalized offerings, which directly correlate with NPS and customer loyalty. Additionally, emphasizing environmental, sustainability, and governance (ESG) initiatives can enhance customer engagement and contribute to a more sustainable future.
.jpg "CR17800_PPTX (1)")
View this recorded webinar featuring Bain & Company customer experience (CX) experts exploring:
In today's competitive landscape, we hear a lot about the need for businesses to differentiate from competitors. Providing exceptional customer experiences is a sure-fire approach that is proven to retain customers and build loyalty. Here's where implementing artificial intelligence (AI) in CX and customer service can accelerate your efforts - and help you to anticipate customer behavior.
