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Voice of the Customer

Customer Management iQ recently conducted a survey among customer experience professionals across Retail Banking, Corporate Banking, Insurance and Financial Services to explore trends in investment strategies, data monitor technology and the impact of legislation and regulations on customer experience management.

The survey was conducted following the release of the Ombudsman's Report, which revealed a 51% increase in Payment Protection Insurance complaints in the 2011/2012 financial year.

The survey provides insight into investment plans for the 2012/13 financial year – a 48% majority plan to increase in investment. In terms of strategies currently being implemented to improve customer experience, the most widespread is multi-channel platforms (72%), followed by Internal Training (52%), Data Management (48%) and Streamlining Compliant Management Systems (40%).

Some 64% of businesses surveyed expressed concern about the impact of regulatory change on customer experience. However, respondents were more positive about changing public opinion of the banking and financial sector – 60% expect it to pick up gradually during 2012/13.

 

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