How Will Financial Services Regain Public Trust? In-Depth Report From the Customer Management Exchange Network Reveals More

LONDON, October 25, 2012 /PRNewswire/ –

There have been many casualties since the start of the economic crisis and financial
services are yet to escape the tarnish of the global recession.

In the wake of increased negative feeling from consumers about financial service
institutions, organisations are keen to regain customer trust and increase customer
satisfaction and loyalty. Increasing amounts of data, rapidly evolving technology and
rising customer expectations mean delivering a consistent and holistic customer experience
is paramount to the success of the industry as whole.

In a recent survey conducted by the Customer Management Exchange Network, 61% of the
CM Exchange Network community cited customer experience management as one of their three
greatest challenges. Being able to respond to criticism with customer focused strategies
not only allows them to retain their existing customers and clients, but also attract new
business from competitors. Interestingly, respondents of the survey only regard customer
loyalty as their 4th greatest challenge (32%) behind customer centricity and culture
(52%), and insight and analytics (36%).

Reflecting on the survey results, Phill Hirons, Head of Production at the CM Exchange
Network commented, “It’s clear that financial services organisations need to redefine
their relationships with the public, and in particular their customers. Consumers want to
be able to interact with their bank or insurer at their own convenience, meaning a huge
increase in online and mobile banking. But they want to ensure their bank understands
their needs and moreover puts their experience at the top of their priorities.”

“In addition, we have seen huge changes in the regulatory environment, which whilst
acting in the interest of the consumer, has restricted how financial institutions operate
on a daily basis. It’s clear from this report that a holistic multichannel experience has
to be achieved to support these objectives and to deliver on them.”

The Customer Management Exchange Network has published the full report online at

http://bit.ly/SLUiii

The results have been compiled and released ahead of the Customer Experience Exchange
for Financial Services, taking place in London in February 2013. For more information
visit the website at http://www.customerexperienceexchangefs.com/PR or email
exchangeteam@iqpc.com

About the Customer Management Exchange Network

The Customer Management Exchange hosts a series of global, invitation only forums,
which help senior executives overcome their most pressing challenges across customer
experience, marketing, customer service, insight and digital technology. Exchange only
invites executives with the highest credentials, and solution providers with world-leading
capabilities in order to deliver a strategic discussion based environment, allowing
attendees to connect, interact and engage with their international peer group.

http://www.customerexperienceexchangefs.com/PR

http://www.customermanagementexchange.com

SOURCE IQPC