The current financial crisis has done more than just destroy market value. It has also redefined what financial institutions must do to compete and be successful. More and more customers of financial institutions are looking for the best in-class service capabilities. Industry forecasts predict reduced revenue and margins, which consequently focuses the service business model on customer needs. To succeed in this new environment, financial institutions need to answer some critical questions:
- What are the latent needs of the current customer base?
- What are the service components which have the highest impact on customer experience?
- How should I design our service chain to fulfill latent needs and improve customer experience?
- How can I win new customers, offering them best in-class service capabilities?
- What are the benefits for our bottom-line results due to breakthrough customer service improvement?
- What is the achievable potential of productivity improvement, by eliminating unnecessary waste on our service operations?
How CBE transforms Challenges into Results
Our financial service practice has accumulated large on-the-ground experience applying lean service management principle in order to:
- Identify customer latent needs;
- Identify service components with the highest impact on customer experience;
- Design and implement a service chain capable of generating a highly positive customer experience;
- Quantify the effect on bottom-line due to customer service improvement;
- Increase productivity through dramatic waste elimination.