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Survey Highlights Bottlenecks in Delivering Consistent Customer Service

May 08, 2012

BAI, a financial services association, conducted a survey across the retail banking sector to determine the extent to which retail banks were able to provide consistent customer service across all channels.

The survey, sponsored by Pegasystems Inc., underscores the importance of its BPM and CRM technology and how it can be used to transform operations and create competitive advantages by ensuring consistent customer service.

Today's myriad of legacy systems, manual processes and disconnected channels makes it difficult for organizations to get a holistic customer view and drive customer loyalty.

According to the survey, which polled more than 200 executives at U.S.-based retail banks and over 40 percent of the respondents, cited that consistency was an issue. Personalizing offers and a single view of the customer were rated as the two biggest sales challenges.

"How can banks that are inconsistent during interactions, or don't really know their customers, achieve a full return on those investments?" asked D. Scott Andrick, industry principal for retail banking at Pegasystems.

Andrick noted that in order to differentiate itself, banks needed to focus on how they could provide the best service and experience across all channels, which could be achieved through advanced BPM and CRM technology.

Given that more than a quarter of respondents do not use analytical models for sales and marketing, and almost another quarter use them but only update them annually, the survey suggests the use of Pegasystems' unified marketing solution that provides analytics-based campaign management capability.

This unified solution helps delivers multi-channel CRM, including new social and mobile channels, to encourage a customer-centric approach, subsequently ensuring consistency in customer service across all channels.

Edited by Braden Becker

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