Unbelievable Violation By World Renowned Bank – Record Fines!

Beyond Philosophy

A: Wells Fargo Bank, the latest bank to suffer the scrutiny of the truth and forced to answer for taking advantage of its customers’ trust. Carrie Tolstedt , unit leader of Wells Fargo’s community banking division, is set to retire at the end of this year after 27 years of service.

5 Top Customer Service Articles For the Week of July 11, 2016

ShepHyken

Prime examples include being slapped with a double ATM fee for a cash withdrawal (the fee charged when you use an out-of-network ATM and then the penalty that your own bank imposes). The post 5 Top Customer Service Articles For the Week of July 11, 2016 appeared first on Shep Hyken.

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5 Top Customer Service Articles For the Week of June 20, 2016

ShepHyken

Here are three great companies, Amazon, Southwest Airlines and TD Bank (I wouldn’t have guessed this last one), that are relentless when it comes to being customer focused. The post 5 Top Customer Service Articles For the Week of June 20, 2016 appeared first on Shep Hyken.

Executive Talk: Jim White, Santander Bank

Contact Center Pipeline

Jim White is Senior Vice President and Director of Card Services at Santander Bank. Jim talks about the agent skill requirements they have in their financial contact center. Their agents are a source of information and education.

5 Insights from Our 2016 Study on Customer Experience for Banks

PeopleMetrics

We work with a number of banks and credit unions, all of which are committed to using customer feedback to deliver a great customer experience. We recently aggregated data from across all of our clients to see what we could learn about overarching trends in banking customer experience.

Digital Transformation in Retail Banks: Potential Impact on Brand Equity, Customers, and Employees

Beyond Philosophy

It is having most impact, and will likely continue to do so, in traditional industries such as retail banking. Digital innovation in banking can be seen in the transformative way people transact and organize their finances. Michael Lowenstein, Ph.D.,

Making Customer Experience Fun! The Budapest Bank CX Crossword Puzzle

ijgolding

This is a post about customer experience (CX) transformation – about the incredible work being done by a bank in Eastern Europe in their quest to become sustainably customer centric. I first met Laura Tengerdi and Andrea (Andi) Hanyecz in 2016.

Guest Blog: How to Manage Customer Emotions

ShepHyken

Every customer goes into a service environment, from barbershop to bank office, with emotions that color his or her expectations. This week on our Friends on Friday guest blog post my colleagues, Thomas A.

Amazing Business Radio: Nate Spears

ShepHyken

Prior to founding ClearSource, Nate managed customer service teams for both American Express and BMW Bank, which instilled in him a passion for the customer experience. Nate Spears on Providing Exceptional Customer Service. in the Digital Age.

Is Trust Really an Emotion? Generally,Yes…And It Is Critical In Customer-Supplier Relationship…Just Ask Banks!

Beyond Philosophy

Consumer financial service industries, such as banking, investments and insurance, are sectors where trust and confidence play a particularly important role in key elements of the customer life cycle: selection, loyalty, and defection. Retail banking, in particular, has seen both success and failure because of customer trust. Big national and large regional banks are particularly vulnerable. In classic psychological terms, trust is considered more a ‘feeder’ of emotion.

Capgemini Releases the World Retail Banking Report 2016: Customer Experience

Natalie Petouhof

Tweet Capgemini and Efma today released the 2016 World Retail Banking Report (WRBR). The comprehensive survey data in this report, gathered from polls of 16,000 customers in 32 countries, as well as over 140 industry executives around the world, is designed to assist banks in understanding the current competitive landscape and mapping out their strategic responses. The information in this report will help banks to: Assess current levels of customer experience.

Astonishing BIG gains from little changes!

Beyond Philosophy

But there is also Zappos and Starbucks, Bank of America or Goldman Sachs or Amazon and Volkswagen. When striving for the next level of Customer Experience, it is critical to understand how your customers make decisions. However, it’s probably not happening the way you think it is.

3 Thoughts on Improving Online Banking Customer Experience

PeopleMetrics

The vast majority of my banking customer experiences happen outside of a bank. And if I think about it, I would find it rather disconcerting if I found myself in a bank. As it is wont to do, technology has spurred the evolution of personal banking into new and surprising forms.

Want More Sales? Give All Your Money Away!

Beyond Philosophy

Wells Fargo Bank bank, for example, is recovering from a scandal in which it fraudulently opened thousands of bank and credit card accounts, boosting its own fees and earning bonuses for its employees at customers’ expense.

Sales 371

Amazing Business Radio: Bill Aston

ShepHyken

The customer experience is the last remaining differentiator for a lot of industries, particularly the banking and insurance industries.” – Bill Aston. Bill Aston Shares the Roles (and Challenges). of Using Technology to Provide Amazing Customer Service.

Why Must I Repeat Myself Again and Again?

ShepHyken

So maybe the people at Headsets.com aren’t dealing with sensitive information like a bank or insurance company, but the point is once you have given any information to a customer support rep, you shouldn’t have to repeat it again. Customer Support.

Guest Blog: How Small Software Companies Can Provide Awesome Customer Support Without Going 24/7

ShepHyken

Read Shep’s latest Forbes Article: Customer Service Lessons To Learn From The Banking Industry. This week on our Friends on Friday guest blog post my colleague, Jack Plantin, writes about the importance of customer support and options we can offer for around the clock support.

Kerching! Banking and Financial Services Top UK Customer Satisfaction League

CSM Magazine

The banking and financial services sectors have the best levels of customer service satisfaction in the UK – that’s according to Bright, which today released the results of its first ever ‘Industry Satisfaction Survey’, via its latest Customer Experience Report.

Truth Bared about the Realities of Customer Experience Implementation!

Beyond Philosophy

What do a Bank, an Airline, and an Online Retailer Have in Common? Consorsbank is a bank; Lufthansa is an airline; Zalando is an online clothing retailer. Join us on Thursday, July 14 th , 2016, at 11 a.m.

How Many of Your Customers Have Suggestions for Improving Customer Experience?

PeopleMetrics

We just buttoned up a study about customer experience in the banking industry. In the study, we looked across the customer bases of all of our retail banking clients for interesting trends and insights. About That Banking Study.

What are Bank Contact Centers Doing Right?

NICE inContact

inContact’s research shows that banking was in the highest tier for customer satisfaction with 54% of respondents ranking it for the most satisfied recent interaction. The American Customer Satisfaction Index (ACSI) reported that banking customer satisfaction increased 5.3%

How Improving Mobile Banking Experience Can Translate to the Rest of the Business

ForeSee

The post How Improving Mobile Banking Experience Can Translate to the Rest of the Business appeared first on ForeSee. In 1877, the Bell Telephone Company made telephones commercially available for the first time. About 64 years later, telephones had achieved a 40% adoption rate in the US.

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. Customers threw all their toys out of the crib about it, pledging to move their money out of the big bank. Ever blown it with a Customer? We all have.

Happy Customers: How To Get Them!

Beyond Philosophy

People waiting for a Harry Potter ride walk through Gringott’s bank and can see talking goblins. We all want to be happy. But how do you consistently make your customers happy?

Congratulations to Andrew White: Pipeline Drawing Winner

Contact Center Pipeline

Congratulations to Andrew White, Assistant Branch Manager, Farmington Bank—winner of Contact Center Pipeline’s drawing at the Northeast Contact Center Forum’s 15th Annual Conference & Expo at Gillette Stadium on June 14, 2016.

How Can Wells Fargo Recover From Massive Stakeholder Insensitivity?

Beyond Philosophy

In a September 13 th Wall Street Journal article, CEO John Stumpf said that the bank didn’t have a bad culture, but that it has been working to weed out bad employee behavior. Michael Lowenstein, Ph.D., CMC Thought Leadership Principal, Beyond Philosophy.

From The Field: Oracle CX Conference 2016 Report

Natalie Petouhof

Mark spoke about his own frustration with the financial institution he banks with and their calls to him about his account. He explains every time they call him, in detail, what the issue is, yet the bank still calls him with the same question.

Guest Blog: Rolling Ahead of the Game with Digital Customer Experience

ShepHyken

Scenario 1: Mr. Henry forgot his Internet banking password and is facing issue logging in to his account. Scenario 2: Mr. Henry forgot his internet banking password and clicks on the forgot password option. He receives an automated email from his bank on the registered email id to reset his password. This week on our Friends on Friday guest blog post Shaista Haque writes about a very timely topic, the digital customer experience.

How Mobile Banking is Redefining The Customer Relationship

Infinity

The banking industry is far from exempt from new consumer expectations. Banks and other financial institutions are having to adapt at a rapid pace. As a result, mobile banking and other technologies are driving a profound change in banking and the customer relationship.

Delivering Unique, Attractive (Even Branded) Customer Experience Lagniappe: Any Company Can Do This

Beyond Philosophy

4) Where customers and experience are concerned, think ‘human’, i.e. TD Bank’s “Bank Human Again” marketing campaign. I’ve written about Vernon Hill, who founded Commerce Bank in the U.S. and Metro Bank in the U.K. Michael Lowenstein, Ph.D.,

5 Ways a Bank’s Contact Center Becomes GDPR Non-Compliant

Noble Systems

From the moment the EU’s General Data Protection Regulation (GDPR) was finalized in April 2016, there was a sense of impending doom for business leaders. Now, we’re almost a full year into GDPR enforcement and banks are feeling the impact. Banking on PCI DSS Compliance to Cover You.

Nedbank engages WCL Customer Management to co-create its TCF deployment model

Peter Lavers

Nedbank Retail, one of South Africa’s leading banks, has appointed WCL Customer Management Ltd to co-create its Treating Customers Fairly (TCF) deployment model in advance of TCF legislation due to be promulgated in 2017.

5 Ways a Bank’s Contact Center Becomes GDPR Non-Compliant

Noble Systems

From the moment the EU’s General Data Protection Regulation (GDPR) was finalized in April 2016, there was a sense of impending doom for business leaders. Now, we’re almost a full year into GDPR enforcement and banks are feeling the impact. In the first 3 years of GDPR, banks are expected to be penalized with fines up to €4.7 Don’t let the following 5 pitfalls make your bank non-compliant with GDPR and lead to significant fines.

Eliminating Experience Pain Points, and Creating Customer Satisfaction: Is This Ever Enough?

Beyond Philosophy

After recently reviewing the Forbes customer value/customer loyalty interview of TD Bank’s CMO, Vinoo Vijay, one of his areas of emphasis (in addition to frequent customer surveys and generating insights from employees) was the resolution of problems. At the outset, I’d like to applaud the active inclusion of employee input and insights into TD Bank’s customer experience program design. It’s understandable why TD Bank’s marketing takes this approach to value.

Eliminating Experience Pain Points, and Creating Customer Satisfaction: Is This Ever Enough?

Beyond Philosophy

After recently reviewing the Forbes customer value/customer loyalty interview of TD Bank’s CMO, Vinoo Vijay, one of his areas of emphasis (in addition to frequent customer surveys and generating insights from employees) was the resolution of problems. At the outset, I’d like to applaud the active inclusion of employee input and insights into TD Bank’s customer experience program design. It’s understandable why TD Bank’s marketing takes this approach to value.

For “My Protection”, But Where’s The Customer Service?

Steve DiGioia

A few minutes later my wife calls me to say that she just got a call from the credit card company, the bank, saying they want to speak to me about the card. But the bank can’t do the same? your apologies only go so far This original article was written by Steve DiGioia.

For financial institutions, your first impression is your only impression

ForeSee

Banking and financial services aren’t afforded the same opportunities to acquire new customers as other industries. Financial Services Insights banking Customer ExperienceOften times you get one chance to make a great impression on a potential.

Top 3 Insights from the 2016 Global Contact Center Benchmarking Report

Calabrio

One of the places I look for trends is in the 2016 Dimension Data Global Contact Centre Benchmarking Report , the most extensive global contact center survey in the industry. Not only have digital interactions gained substantial ground in 2016, but digital interactions, like chat, email, social media, SMS, etc., Consider the following scenario: Michelle is thinking of opening a new checking account, but she’s not sure if she wants to go with Bank A or Bank B.

MROC ‘n Roll: Generating Social Connectivity and Valuable Insights from Employee and Customer Communities

Beyond Philosophy

An excellent example of an organization which drives customer and employee advocacy through social engagement is TD Bank. Wendy Arnott, TD Bank’s VP of Social Media and Digital Marketing, has built a social media program from the inside out. Michael Lowenstein, Ph.D.,

How Banks Secure Conversations With their Most Valuable Clients

Customer Interactions

In volatile economic times, the Wealth Management business units of large financial institutions can become pressure cookers, as the banks most demanding clients vie for the time, attention and brain power of their selected financial advisors