The Frontline Experience: Give the customers what they want

 
March 20, 2009

Research

BAI’s The Frontline Experience suggests financial institutions should rethink their traditional "one-size-fits-all" approach to relationship-building with bank customers and credit union members. Research for the project shows that 70 percent of consumers are not receptive to the idea of having a relationship with their primary banking institutions. The fundamental strategic question: How can a retail bank simultaneously align its resources to adequately serve customers who want a relationship versus the more utilitarian set of customers who simply want convenience, products and service?



The research was designed to determine how customers define the concept of having a relationship with their bank; to gauge the importance of customer interactions with branch staff to banks’ relationship-building efforts; and to determine customers’ satisfaction with these interactions. The project then sought to identify tools and processes that banks can use to enhance the customer banking experience.



This BAI project includes survey results and interviews with 550 retail banking executives to examine the opportunities and challenges associated with implementing relationship-based strategies in the branch network.



Download this complementary research about the customer experience from BAI. 

Topics: Bank Automation , Bank / Credit Union

Companies: BAI , NetWorld Alliance



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