Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

UK consumers demand more innovating banking

They're also cautious about sharing their data

A survey of more than 1,000 UK adults ages 16 and older found that nearly half of respondents (47%) with personal bank accounts would only feel comfortable with banks collecting the bare minimum of data required to run their accounts. At the same time, 91% of respondents agreed that banking services should be innovative and modern, revealing a disconnect between consumers' lack of trust in sharing data, and the desire for more innovative services from their banks.

The research identified three key findings which highlight the growing consumer demand for personalized service that makes banking easier and more relevant. About half of the survey respondents (49%) were interested in banking loyalty programs in partnership with retailers requiring third-party data sharing. 46% were open to financial advice services that keep track of their spending information to help save money, while 39% would consider using a service prompting them when an important personal event, such as a loved one's birthday or an anniversary, is approaching.

The survey also showed that security remains a trust factor between the consumer and their bank. It needs to be not only robust but also a seamless part of the consumer-bank interaction. More than half of respondents (58%) would be interested in using biometric authentication methods like fingerprint, iris, or voice authentication. For 52% of them the primary appeal is that they feel it would make banking more secure. But the interfaces used to connect these to the banking environment come from third parties. Most strikingly, a third of respondents (33%) explicitly stated they either currently conduct banking transactions using a digital personal assistant like Amazon's Alexa or Apple's Siri, or would like to in future. The use of digital personal assistants could require hosting customer data on third-party infrastructure.

NCR works with banks on a daily basis to help them provide seamless omni-channel services that put customers at the heart of the banking experience by bringing together the various processes involved in acquiring, authorizing and routing payments, enabling them to quickly introduce new services with the highest security standards.

"As consumers increasingly look beyond traditional banking services, it is important for banks to reassure consumers that their personal data will be protected and safe," said Joe Gallagher, vice president & general manager of Self Service & Branch at NCR Corporation. "It is vital that consumer data will be used in a way that they are happy with, especially as third-party technology increasingly plays a role in the banking innovations they expect."

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)