Research predicts that there will be more than 3.6 billion online and mobile banking users by 2024. In fact, mobile and online banking prevalence is expected to grow 54% compared to 2020 (source: Fortunely).
Customers interact with their bank regularly. As a result, whenever customers use digital channels, there is a tremendous opportunity to reduce operational costs through digital containment and reduced branch visits.
Improving your customer experience (CX) management in a financial services or banking journey has huge potential dividends. Forrester estimates that for every one point of improvement in CX index score, banks realize an incremental increase of $123 million dollars.
It starts with BryterCX.
BryterCX partners with clients to deliver customer-delighting, company-revolutionizing results with IRISTM, our journey management solution. With IRISTM, you get the insights you need to create meaningful human experiences and win customers for life. With our solution, companies typical experience:
According to a Forrester report we’ve helped industry leaders achieve over 300% ROI from their journey management investment with BryterCX. Total benefits generated over a 3 year period also include:
With IRISTM, your average investment of less than $0.15 per customer per year will make it possible to:
Companies that connect siloed, fragmented data to create an omnichannel view of true customer experience can do this and more.
Start with this resource on “Demystifying Common Journeys”. Banks and financial service companies that understand the path their customers go through to accomplish a task and are able to apply journey mapping to create a visual representation of the desired path that they want their customers to experience are one step closer to complete CX illumination.
Banking Case Study: Payments
A large retail bank was heavily invested in digital capabilities. However, they found limited adoption from most of the customer base. Many customers were still using agents to make monthly payments, despite easy online options. The bank needed to develop effective, compelling digital migration strategies based on the preferences of certain customer segments.
Mapping the Customer Journey:
BryterCX examined the Make a Payment customer journey and segmented the entire caller population based on prior digital behavior: