Employee Culture: Why Amazon is on Top and Bank of America Isn’t

Beyond Philosophy

Last year’s survey revealed that Amazon claimed the top spot and Bank of America…well, didn’t. That is to say, Amazon has it—and Bank of America doesn’t. The Bottom 10 Companies Technically, Bank of America isn’t listed here by name but they do fall under the label of “Any Bank.” I would argue that this is true of Bank of America. I am not a fan of banks. In my experience, banks don’t ever put the customer first.

Faces of Customer Experience: Ali Banks

Customers That Stick

Meet Ali Banks! Ali Banks’ began her career in architecture but left her real estate development job to pursue her love of food at Le Cordon Bleu, Paris. To connect with Ali Banks further visit her at www.sitkasalmonshares.com. Her food adventure brought her back home to New York and now Chicago. Currently the Resident Chef for Sur La Table, Chicago, she teaches hands-on cooking classes to adults and children.

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5 Facts to End the ROI Debate on Customer Experience

Beyond Philosophy

According to their 2014 US Insurance Shopping study, 28% of the Customers who switched auto insurance providers did so because of “poor experience.”. In an article about the moments of truth in customer service, McKinsey & Company revealed that 70% of customers at a bank reduced their commitment when they had a bad Customer Experience. That article also revealed that 85% of customers that had a good relationship with the bank increased their commitment. 26 August 2014. <

What Does The Scottish Independence Vote Have to Do with Customer Experience?

Beyond Philosophy

The loss aversion was in effect as well when several major US banks (e.g. Bank of America, Morgan Chase, etc.) This led to a large public revolt and forced the banks to axe their plans. Well, there you have it! After so much campaigning, so many questions, debates, and emotions that moved currencies and markets, the Scottish said, “No!” to independence. I won’t go into deep macro-economical, sociological, PESTAL analysis, etc.

Employee Culture: Why Amazon is on Top and Bank of America Isn’t

Beyond Philosophy

Last year’s survey revealed that Amazon claimed the top spot and Bank of America…well, didn’t. That is to say, Amazon has it—and Bank of America doesn’t. Technically, Bank of America isn’t listed here by name but they do fall under the label of “Any Bank.” I would argue that this is true of Bank of America. Zhecho Dobrev , a one of Beyond Philosophy’s Senior Consultants, recently told a story on our blog about his experience with Bank of America.

What Does The Scottish Independence Vote Have to Do with Customer Experience?

Beyond Philosophy

The loss aversion was in effect as well when several major US banks (e.g. Bank of America, Morgan Chase, etc.) This led to a large public revolt and forced the banks to axe their plans. Well, there you have it! After so much campaigning, so many questions, debates, and emotions that moved currencies and markets, the Scottish said, “No!” to independence. I won’t go into deep macro-economical, sociological, PESTAL analysis, etc.

How to Properly Celebrate Your Customer’s Birthday

Joe Rawlinson

I got boring, stale automated greetings from my bank and my dentist. I recently had a birthday and was surprised to see my email inbox flooded with birthday greetings from companies I’ve done business with. The problem was that many of these emails were a total waste of time. Are you sending useless birthday emails to your customers? Let’s find out. I got two types of emails which are particularly noteworthy.

Who will be the next ‘United Breaks Guitars’? Don’t let it be you!

ijgolding

After 50 calls between British Gas and Scottish Southern, I received a panicked phone call from our tenant in March 2014 to say that British Gas had served a warrant to ‘rip out’ the gas meter!! They had no bank details and there was no gas supply to the property. As of the date of posting this blog (28th November 2014), British Gas have still not resolved the issue (despite being promised a response by Darren by the 24th November).

How To Disappoint Customers on Social Media: A Cautionary Twitter Tale

PeopleMetrics

Last week we wrote about a bank that has exceptional customer service in our post “ How to Amaze Banking Customers: A Simple Story ” This week we are going to focus on a story that happened right in @PeopleMetrics Twitter feed. So naturally, I pulled up Twitter and fired off a tweet at the bank, curious to know what their customer experience efforts were behind the scenes. A few hours later, I got a reply from the bank, thanking me for the shout-out.

9 Physical Security Trends for 2014

Customer Interactions

Security technology is moving into the spotlight in 2014, and this goes well beyond its capabilities in the control room. In 2014 I believe we’ll begin to witness the next wave of PSIM adoption, especially within higher education and banking organizations. In 2014, I predict we’ll begin to see more hybrid solutions that allow organizations to pick capabilities according to their specific needs.

2020: The Year of Digital-Only Banking?

Revation Systems

As technology continues to impact the banking industry today, a shift is beginning to occur in consumer behavior. This statistic is indicative of the sheer strength that digital banking has today – especially for the younger generations of consumers like Millennials and Gen Z.

Happy Customers Live in the Cloud

Win the Customer

There was a time when customer service consisted of a row of operators answering calls, using a bank of telephones. If the call center was understaffed, customers would wait for nearly an hour to talk to a representative. But, if the call center was overstaffed, then the office was bleeding money in salaries. Luckily, cloud […]. Customer Experience Customer Service

What Geology Can Teach Us About Customer Experience Strategy

PeopleMetrics

For example, your day-to-day interaction with your bank is largely transactional in nature: you check your account balance, pay a bill, or deposit a belated birthday check from your still-generous Great Uncle Earl. But the minute you can’t access the online portal, your automatic bill pay didn’t work, or your check is deposited into a wrong account, your relationship with your bank becomes deeply personal, and quite possibly, deeply negative.

Creative Ideas to Gain Executive Attention and Empathy for Customers

PeopleMetrics

One of our banking clients has a monthly ‘low tech’ listening program during which key executives in the retail banking division are given a short list of customers to call and a set of questions to probe on. Customer Experience professionals often face a daunting task: getting executives to truly care about the customer experience.

Five Essentials of Customer Service Excellence

C3Centricity

It can be useful to have a bank of pre-written statements with pertinent information in them, to insert into text, This particularly important when health, safety or legal issues are discussed. Recently, I took a very early flight with British Airways (BA) out of Geneva airport and once again, BA staff demonstrated their excellent customer service.

Four Cool Ways to Cement Customer Trust

PeopleMetrics

2014). 2014). 2014). According to a recent Emotivator pos t, in an attempt to better empathize with banking customers with mobility issues, Barclay''s Bank is having its branch staff wear a specially designed suit as they enter and seek service in one of their branches. This is leading Barclay''s re-design of common bank forms, devices and physical branch structures. "Trust is the glue of life.

NICE Shines Spotlight on 2014 PSAPs’ Finest at APCO

Customer Interactions

Here is a glimpse at our 2014 winners: Technician of the Year Jason Sturgill. At Christmas time, the SRFECC also serves as a collection center for the UC Davis Medical Center Firefighter’s Burn Unit, the Sacramento Food Bank, the Sacramento Children’s Receiving Home, and the Marines Toys for Tots programs.

Want to build trust with your customers? Recommend a competitor.

Genroe

Imagine if your bank that contacted you to tell you they just launched a new type of account and advised you to switch your money into this account, as it will earn more interest, or your mobile provider calling you to tell you to switch to a cheaper plan. by kevin dooley . Amy Scott sent me through her Christmas article and I liked it so much I asked her if I could publish it on the blog. Luckily her answer was yes so everyone can benefit.

Social Customer Service Rankings: Where Do You Stack Up?

Chad Schaeffer

Banking is also an online and mobile experience, making it easy to launch Twitter and tweet a question or concern by consumers comfortable with social media. Social Customer Care Activision American Airlines AMEX AT&T Bank of America Chase Citi Comcast Comcast Cares Connections Delta Airlines Dreamforce ExactTarget Marketing Cloud Netflix Salesforce.com Samsung Social Customer Service Social Media Spotify Sprint T-Mobile Twitter United Airlines Verizon Virgin America Wells Fargo Xbox

10 Things Customers Want and Expect from Customer Service

Fonolo

For example, for “simple” inquiries (like “what’s my bank balance?”) Updated May 2020: Companies place a great deal of importance on meeting customer expectations. According to Forrester, nearly 95% of leaders say that providing a good customer experience is a top strategic priority, and 75% want to use customer experience as a competitive advantage. But it’s a big, crowded marketplace out there, full of consumers that want different things at different times via different channels.

Meet the Faces of Customer Experience 2014

Customers That Stick

We introduced our Faces of Customer Experience series in April 2014, and we’ve had the privilege of meeting and sharing the stories of a number of wonderful customer-facing professionals. So let us reintroduce you to our Faces from 2014. Meet Ali Banks! – Ali found her true passion in the kitchen and now on a boat off the coast of Alaska.

How Banks are Improving their Complaints Management

Clarabridge

Financial regulatory laws strictly govern the handling of complaints in banks and other financial institutions. The Wall Street Journal reports that in 2014, US and European banks paid nearly $65 billion in penalties and fines. Prior to working with Clarabridge, a large global bank struggled with analyzing and reporting on complaints data. By working with Clarabridge, this bank resolved these challenges. after improving the online banking log-in process.

How Banks are Improving their Complaints Management

Clarabridge

Financial regulatory laws strictly govern the handling of complaints in banks and other financial institutions. The Wall Street Journal reports that in 2014, US and European banks paid nearly $65 billion in penalties and fines. Prior to working with Clarabridge, a large global bank struggled with analyzing and reporting on complaints data. By working with Clarabridge, this bank resolved these challenges. after improving the online banking log-in process.

Stop Losing Customers By Doing This One Simple Thing

Chad Schaeffer

Notice this customer is clearly upset at Bank of America but isn’t directly asking @BofA_Help for assistance. Fortunately, Bank of America is doing an awesome job of proactive listening and they engaged this consumer. As they say, there is a reason you have two ears and one mouth. This is especially true for those of us in social customer care, where listening is so critical.

At A Fork In the Road: As a Customer Relationship Driver, Where Is Branch Banking Headed?

Beyond Philosophy

Both quotes seem to apply to what is currently transpiring with retail branch banking, and where it seems to be trending. Banks can’t quite make up their minds about what branches are supposed to be. At a time when banks are closing branch locations at a record pace (over 1,400 in 2014, with Bank of America, alone, closing more than 140) that is likely to continue, the need for the services they offer remains pretty much the same.

Bank Branch Innovation Like Never Before: 5 Brands Redefining Tradition

Avaya

Sources like CNBC and The Telegraph predict that the retail bank branch will die within the next decade. In fact, the market is heading towards bank branch innovation unlike anything we’ve ever seen. As an industry slated to experience more disruption in the next 10 years than the last few centuries, there’s no denying that banking is radically changing. Traditional vendors must now compete alongside newer digital-only banks like Ally in the U.S.,

3 Statistics that Prove Banks Have a Problem

Clarabridge

Banks encounter many of the same problems as other enterprises— customer retention and loyalty, revenue growth, etc. So, what exactly are banks facing today? 22% of customers think banks are all the same. Banks provide a certain set of services that can be hard for customers to differentiate. 83% of customers find it easy to switch to a different banking provider. US and European banks paid $65 Billion in fines in 2014.

Does Your Company Pass the $20 Customer Trust Test?

PeopleMetrics

recently reported a shift in Lloyds Banking Group’s strategy to modify their corporate culture to focus on the customer and build trust. Customer trust is a topic that we are seeing in more and more of our clients’ customer feedback data. We have learned that customers define trust in two ways: The firm conviction in the reliability of an organization’s services and. The belief that they have your best interests in mind.

What JetBlue Teaches Us About Profits, Promises, and People

Beyond Philosophy

People feel when there’s a breakdown in trust, the withdrawal from the emotional bank account can call the whole account into question. There are plenty of ways to look at the sometimes competing interests of the desire for maximum return on investment and the desire to use a superior customer experience as a point of differentiation for competitive business advantage.

3 Statistics that Prove Banks Have a Problem

Clarabridge

Banks encounter many of the same problems as other enterprises— customer retention and loyalty, revenue growth, etc. So, what exactly are banks facing today? 22% of customers think banks are all the same. Banks provide a certain set of services that can be hard for customers to differentiate. 83% of customers find it easy to switch to a different banking provider. US and European banks paid $65 Billion in fines in 2014.

Countries that approved video identification in banks

RichCall

In this post I’ll try to list the countries allowed their banks to identify clients through video. A new reading of Germany’s money laundering law by the German Ministry of Finance in March 2014 has paved the road for this innovation.

Intersecting Viral Marketing With Emotional Customer Connection: TD Bank’s ‘Home Run’

Beyond Philosophy

My example is TD Bank, where viral communication meets real, and valued, experience delivery on a personalized, and deeply emotional, level. Here’s a quick thumbnail summary of where some examples of TD Bank’s marketing unique marketing and communication initiatives have taken the company over the past year or so. The mini-documentary TD Bank created about the campaign has been viewed over 5 million times on YouTube. – Michael Lowenstein, Ph.D.,

Reputation Management or Customer Experience Management?

CX Journey

Build a bank of trust and relationship currency so that, if/when things do go wrong, you can recover more easily. Background image courtesy of Unsplash Which should you focus on: reputation management or customer experience management? Or both? With sites like Yelp, TravelAdvisor, Angie''s List, and more (not to mention Twitter, Facebook, blogs, etc.),

A Light Bulb Moment! – Why Layering PSIM on Top of Building Management Systems Makes Sense

Customer Interactions

Millennium Bank in Portugal cut their false alarms by around 75%, resulting in a 30% reduction in response costs. At 11pm several lights are switched on in an office on the 40th floor of a large tower block. Knowing that the building closed at 8pm, the intelligent building management system, which is being monitored at the front desk, alerts the on duty manager.

Digital Trends and Technologies Transforming CX in Banking and Finance

Tenfold - Contact Center Blog

They have no attachment to legacy systems that banks and finance companies have been holding onto for years, despite the wave of new technologies in business and communications. A 2017 report by Accenture indicated that 71% of financial services consumers are open to using “entirely computer-generated support for banking services.” Chatbots enable banks and financial service companies to deliver efficient, personalized and responsive service to customers at a minimum cost.

No! No! No!

Contact Center Geek

Have you ever been on the phone with your bank's call center trying to figure out where a branch is? I make calls to call centers nearly every working day. On purpose. And I enjoy it! Yes, you read that correctly. I actually go out of my way to call at least one call center each working day. I have been doing this for more than 15 years and I still get crazy looks when I tell people I do it. More on that subject later.

The Bank Branch Digital Transformation Trifecta

Avaya

So, how will the bank branch be impacted? We have an idea of where bank branch digital transformation is headed…. In 2016, Ernst & Young introduced its Banking Relevance Index (BRI), designed to measure the importance of traditional banks to customers’ lives. After surveying financial service institutions across 32 markets worldwide, the firm reported an average global bank relevance score of 75%. But this hasn’t stopped demand for traditional banking.

Security Tech Crosses Over to New Frontiers

Customer Interactions

Who would have thought that a cellphone would go from having a singular purpose of making and receiving calls to being used for everything from filming videos to mobile banking? Technology always seems to evolve in ways that we cannot anticipate. Today’s smartphone is a great example of how technology can cross over into entirely new applications. Security technologies (video surveillance, video analytics, and PSIM) are also crossing over into new frontiers.

How to Evolve Banking Customer Experiences for Survival

PeopleMetrics

This was the terrifyingly binary challenge Joe Sullivan , CEO of Market Insights delivered to a group of banking execs last Friday at the N.J. Joe shared some statistics that would make less-intrepid bank executives contemplate a career change. But the bank execs in attendance were open to facing the daunting facts, such as: Small banks are dying out. In 2014, the most likely reason a customer is in the branch is to resolve an issue. "Evolve or Die".

Tearing Down Barriers to Collaborative Security

Customer Interactions

” Swecker, who is a former Assistant Director with the FBI and former Bank of America CSO, says we can see many outgrowths of this trend, including various state, local and federal government information sharing forums ranging from the vaunted NYPD Shield to the FBI''s Domestic Security Advisory Council (DSAC).