Intelligent, discerning management of client relationships is fast becoming critical to how a financial institution grows and retains profitable client relationships in today’s marketplace. Well, you may say, delivering exemplary customer service and experiences have been a source of creating a sustainable competitive edge for most organizations since time immemorial, and is something that is not going to become obsolete at any stage in the future. So why this renewed focus and redefinition of something that is so ingrained?

The simple answer is that because managing customer experiences in a way that communicates business value can be easily theorized but does not translate as smoothly into execution, especially when your client is well-informed and connected in the digital world. So, are all decisions made by your organization consistent with the customer experiences you want to deliver? More so in this New Normal, where business is described as GloSoMo, i.e., Global, Social and Mobile.

 

To be relevant in this digital or GloSoMo world, it is important to be agile; that is, focus on growth, efficiency and innovation and align them to deliver value to all stakeholders in the ecosystem. This edition of TCS BaNCS Research Journal is a compilation of opinions from people who live and breathe financial services. Our experts see a financial services industry that pegs its future into a broader customer universe. One where customers need to be engaged on a continuous basis, and their confidence earned—via multiple media and channels.

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