In its latest research, Forrester reveals how Customer experience (CX) improvements drive revenue growth by creating loyal customers. The findings highlight that a single point improvement in a retail bank’s CX Index score could result in $124 million in increased revenue. These findings strengthen our conviction that fast, accurate and friendly customer service delivered as part of a unified banking experience across every interaction is a business imperative for banks. In fact, the banking landscape has changed considerably over the past few years, and capabilities such as big data, predictive analytics and personalization have gone from early-adopter novelties to main-stream essentials, enabling banks to deliver superior experiences across physical (e.g. branches, ATMs, phone) and digital (e.g. online, mobile) channels.
In the infographic below, we round up 7 eye-opening statistics proving that customer experience is a business imperative for banks: