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New American Banker and Monigle Research on the CX Reveals Gap Between Investment and What Actually Keeps Customers #contactcenterworld Sponsored by Technysis, the comprehensive report, and associated rankings of 50 financial institution brands, provides detailed analysis of the strengths and weaknesses of financial institutions by type, and insights from the top performing institutions who are leading the way for their category. In particular, the findings in this report reveal key opportunities for financial institutions to continue humanizing the customer experience to drive a connection to, and action by, customers. As bank consolidation increases and new challengers enter the market, financial institutions need to deliver the best customer experiences possible to attract and retain customers. As large banks seek to appeal to the masses and community banks and credit unions try to stay relevant, many fail in the human aspects of the customer relationship that drive engagement. This research uses a proven customer experience framework to evaluate and rank financial institutions on the essential elements of their performance. Janet King, Vice President, Arizent Research says, "This research is really exciting because it highlights specific areas banks can focus on to more effectively engage customers, actions that make a positive impact on customer satisfaction and advocacy. With so much at stake, having a new lens to frame those decisions is really impactful." Other key findings of the research include: The biggest opportunity for competitive differentiation may reside in the emotional dimension of the customer experience. Credit unions and challenger banks scored particularly well on the emotional motivators, representing a potential threat, poised to break the mold traditional retail banks have used to engage customers in the past. Secure digital tools and mobile apps that enable consumers to easily access and manage their money are table stakes for most Financial Institutions (FIs). While ATMs and call centers are yesterday’s tech, they still resonate as important points of FI engagement for today’s younger consumers. All FIs have their work cut out for them when it comes to how consumers "sense" a brand, from the physical branch to online platforms and community activities. Some need to overcome the inherent disadvantages of being an online-only or mostly branchless FI. Today, American Banker released these results and the ranked list of these 50 institutions. The number 2 ranked institution shares, "America First Credit Union is humbled and grateful to learn members ranked us the top credit union on the list of national financial institutions," said Tammy Gallegos, America First Credit Union Chief Strategic Engagement Officer. "Our members know America First Credit Union is safe, secure, reliable, responsive, and dedicated to their financial well-being while working collaboratively to benefit the communities in which we are invested." #contactcenterworld Posted by Veronica Silva Cusi, news correspondent Date Posted: Tuesday, August 17, 2021 About ContactCenterWorld.com ContactCenterWorld.com is the world's premier on-line resource for the call and contact center industry. This article is one of hundreds available on-line to registered members. Our resource is updated every working day and includes content from every corner of the world. If you are not a registered member go to www.ContactCenterWorld.com and register today. |