article thumbnail

Wells Fargo: They Should Do This

Beyond Philosophy

The San Francisco-based bank, whose employees opened many fraudulent and unauthorized accounts in their customers’ name, now enjoys the dubious honor of shouldering the most substantial penalty the agency has issued since its formation in 2011. They just can’t be bothered to make the changes they need to make to switch banks (yet).

Banking 353
article thumbnail

Stop Making Excuses! COVID Isn’t the Reason Customer Experiences Are Declining, This Is…

Beyond Philosophy

Not only that, but a recent report from the American Customer Satisfaction Index (ACSI) suggests that only 30 percent of companies tracked by ACSI improved their score—since 2011. 17:04 VanAmburg explains how retail banking faired through the pandemic, and what other companies could learn from it. Follow Colin on LinkedIn and Twitter.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Want More Sales? Give All Your Money Away!

Beyond Philosophy

In 2011, it ran a full-page newspaper ad telling people NOT to buy its jacket because consumption of goods causes environmental degradation. In our customer experience consultancy, we help companies design a customer experience that that fosters customer loyalty and engagement by taking customers’ emotional behavior into account.

Sales 354
article thumbnail

Losing Customers Trust is the Worst Penalty VW Will Face

Beyond Philosophy

Banks lied to us, nearly crashing the world economy and causing the Great Recession. I had thought the banking crisis was the pinnacle of organizational stupidity but then last week we hear Volkswagen (VW) lost 30% of their value. Experts posit that these vehicles would emit 10 to 40% more than what shows up on the test.

Banking 406
article thumbnail

8 Worst Mistakes You Don’t Want to repeat!

Beyond Philosophy

Bank of America planned to charge Customers a $5 debit card fee right after taxpayers bailed them out of insolvency. Back in 2011, right after the huge bailout American taxpayers gave Bank of America (B of A) and other large financial institutions deemed “too big to fail”, the bank announced they would charge a $5 monthly fee for debit cards.

Airlines 274
article thumbnail

5 Facts to End the ROI Debate on Customer Experience

Beyond Philosophy

In the United Kingdom, the NCSI portfolio earned a return of 59 percent from April 2007 to June 2011, and the FTSE 100 had a negative return of 6 percent.” That article also revealed that 85% of customers that had a good relationship with the bank increased their commitment. www.mckinsey.com. February 2006. 26 August 2014.

article thumbnail

Unleashing Agent Retention in Contact Centers: Top Experts Reveal Secrets

CX Global Media

She is responsible for a team of 30 plus banking professionals along with a team of 9, providing procedural support to associates across 120+ offices. She was awarded Volunteer of the Year from the High Point Chamber of Commerce in 2011 and 2013 for her work in her community. Mary Beth is a graduate of Morehead State University.