Page 24 - Banking Industry analysis (H)
P. 24
Customer Centricity
Since the 2007/8 financial crisis many banks have willingly
and unwillingly changed their market and customer
strategies as the industry experienced massive
disruption.
The core objective for most banks is to achieve
organisational agility, and to do so they should consider
embracing innovation, managing talent differently, and
pursuing key partnerships within a broader ecosystem to
manufacture and deliver solutions for customers.
“Long-term sustainable growth in the banking
industry seems only possible with a radical
departure from a sales- and product-obsessed
mindset to one of genuine customer centricity,
and further rationalisation of strategies to
target the right markets, customer segments,
and solutions.” (4)
Consumers are interacting with their banks through
mobile channels. But banks seem slow to respond. Only
about one-third of U.S. banks and credit unions have
defined a formal customer experience program. (10)
