News

New report highlights financial service providers' focus on CX

October 19, 2016

A majority of financial services businesses are in the process of expanding their customer experience projects — particularly those involving the mobile channel — but are struggling to find resources to pursue new projects.

This is the finding of "Creating Cutting-Edge Customer Experiences for Financial Services Benchmarking," a new report, from marketing firm WBR Digital, customer feedback analyst OpinionLab and CXFS.

Findings in the report include:

• 50 percent of respondents said that CX will be a priority for them for the next three years;
• 39 percent said it's somewhat difficult to get approval for new CX projects; 
• nevertheless, 69 percent said that investments in CX have increased; and
• 32 percent are now integrating mobile into their multichannel CX strategy.

"It is no surprise that we are continuing to see a growing focus on CX throughout the financial services industry, especially as customers increasingly make their decisions based on the ease with which they can interact with a financial business," said Jim Reitz, head of the financial services practice at OpinionLab.

The report is based on a survey of more than 100 financial services executives conducted onsite at CXFS 2016.