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Archive for: February, 2010
Sanat RaoInfosys Technologies Ltd - London

Checklist Item 3: Hold on to your customers!

23 February 2010  |  3422 views  |  1 comments | recommendations Recommends 0

The longer a customer stays with a bank, the less it costs to retain him. In a recent study of banking customers, average product ownership and profitability was found to be 20% higher among those who thought favourably of their bank. I can cite many figures, but the point is made – there is a huge incentive for banks to retain and sustain custome...

TagsRetail banking
Sanat RaoInfosys Technologies Ltd - London

Checklist Item 2: Focus innovatively on each customer

08 February 2010  |  2385 views  |  0 comments | recommendations Recommends 0

If you really think about it, the goal of any innovation is to better fulfil an existing need. Thus, banking innovation must keep pace with customers’ evolving aspirations. Pick a random sample of customers and chances are that you will find more uniqueness than commonality of need. More importantly, seasoned customers expect their banks to fulfil...

TagsRetail banking
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Sanat Rao
Sanat RaoInfosys Technologies Ltd - London

Checklist Item 1: Let customer interest drive innovation

08 February 2010  |  2825 views  |  0 comments | recommendations Recommends 0

Whenever a customer initiates a transaction, it’s a moment of truth for his bank. Likewise, the acid test of a banking innovation is its impact on customer experience. Enough has been said about the r...

TagsRetail banking
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