Description
Executive Brief: The Era of the Universal Banker
Today’s banking customer expectations have changed significantly over the past half-decade. The increased use of self-service and assisted-service channels to augment traditional, full-service banking has begun to fundamentally change the way banks and credit unions interact with their customers and members. Consequently, financial institutions are challenged to meet their evolving needs for increased efficiencies without losing the personal touch that created the underlying relationships.
This executive brief examines the change from a teller-centric, transactional business model to one that is more advice-centric, and one that employs roving universal bankers who use tablets and computers throughout branches, and are knowledgeable and well-versed in available products and services. Through current voice-of-the-customer research, gain insight into the customer experience factors FIs should consider when interacting and engaging with customers, and learn best practices for implementing the universal banker model.
Methodology
During March 2017, 2,662 retail banking consumers responded to an online survey composed of questions designed to identify factors that determined satisfaction with their banking experience, to uncover impediments to producing such an experience, and to define loyalty, as described by today’s banking consumer. Through this evaluation, customers provided information about their current banking behaviors, and the features and processes they value or would consider drivers of an ideal banking experience. The insights from these findings are chronicled in this year’s edition of The ath Power Ideal Banking Study™.
