large scale image
LCP Image

Back to TSCFM News

Priorities for increased customer centricity in Banking

February 07, 2023

Priorities for increased customer centricity in Banking
Macroeconomic volatility, increased competition, technological advancements and a more-demanding consumer are forcing banks and credit unions to demonstrate greater customer centricity. Achieving this means rethinking the branch experience, collaborating with fintech firms, leveraging data and analytics to deliver personalized solutions, and partnering with consumers for increased financial wellness.

More than just a public relations talking point, customer centricity is a business philosophy that prioritizes the needs of customers in all business operations and decision making. For banks and credit unions, this goes beyond just good customer service. It includes product delivery, innovation strategies, marketing communications and financial wellness support.

When the customer becomes the core of a business, data is collected, analyzed and deployed on a regular basis to get a full 360-degree view of the customer. This data helps banks and credit unions in the following ways.

Better understanding buying behavior, interests and engagement across entire customer journey. Identifying opportunities for new products, services, and promotions. Building segmentation strategies for increased loyalty and lifetime value. Empowering employees to better democratize experiences.

Important Links:

Recommended for you ...

Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services
Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services

February 12, 2024

Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices
Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices

February 12, 2024

Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices
Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices

February 12, 2024

Enquire Now
REQUEST A CALLBACK
Chat on WhatsApp