23 August 2014

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Anuradha Mallya - Infosys Technologies Limited

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The significance of a Single Customer View

04 September 2012  |  1427 views  |  1

Customers often face problems while dealing with the customer service of their banks, but topping their list is not getting a consistent answer to their queries. Isn't it a fair ask to expect the same response, same data, same information over any voice, electronic, social or branch channel? But why are banks not able to provide this consistency? Why can't conversations switch between channels without having to start at the beginning every time? Sounds familiar?

The culprit is the absence of a single customer view. A single customer view is a facility that makes static and dynamic inbound and outbound data pertaining to a customer across all applications, databases, channels and touch points in the enterprise, available to the user in real time. It's the bank employees' window to a single, accurate, consistent and complete sighting of the customer. 

A single view fortifies the relationship between the customer and the bank at every stage. To derive optimal returns on technology, banks should consider the complete channel environment they operate in. They should define the technology and level of data that should be made accessible to the customer at each touch point. And should establish the seamless manner in which these two need to integrate with one another to provide the same view across channels. If they get it right, banks can look forward to stronger relationships, advocacy and insightful information.

Comments: (1)

A Finextra member | 05 September, 2012, 10:16

Could'nt agree more! A single customer view rather than an account view in real-time would help in relevant cross-sell/up-sell as stronger relationships and real-time insights would help Banks make contexual conversations. Sometimes an opportunity identification delayed could be an opportiunity lost. Needless to mention the amount of mind share you would command as the first bank to approach with the kind of product that matches the customer's need(stated/unstated/not even perceived). Imagine technology enabling this and the benefits reaped could be increase in revenue, increase in customer satisfaction, shorter customer TATs and ofcourse increase in employee productivity.   

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name

Anuradha Mallya

job title

Prinicpal Consultant Product Strategy

company name

Infosys Technologies Limited

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2012

location

Bangalore

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