I participated to the annual ABI (the Italian Association of Banks) Conference “Dimensione Cliente” (in italian, Dimension: Customer) in 2012 and in 2013. The Conference hosts several speeches by bankers, consultancy firms and MR agencies.
I read some papers by 2014 edition. And I continue to think “Something doesn’t work”.
Bankers talk us about different manners to open or enable channels from customers to banks: new layouts for agencies, changes in online channels (i.e. advanced home banking platforms, home banking apps for mobility), advanced Customer Care touch points (i.e. video chats).
But a lot of these initiatives seem to me “atomized”, like series of disconnected software libraries: pieces that are necessary for a good operating system, but the operating system is still in beta version.
Banks are facing a new age in their business: used to wait their customers at the counter, they are realizing that customers’ likelihood to switch is worryingly high. The main outcome is banks are dealing with “talking” with their customers, not only by codes, contract statements and compliance norms. But the outcome is incomplete: they must go to their customers (from bank to customers).
I am not an expert about finance, but, sure, I spend a lot of my time observing and talking with customers. A lot of them are banks’, financial institutions’ and insurance companies’ customers… These are the main mistakes or incomplete steps customers (not I) report about the financial companies they work with.