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The Asian Banker One Big Question - Vote Today!


The Asian Banker One Big Question is a quarterly debate held as part of our effort to solve practical problems that bankers across the region are facing. Bankers will be encouraged to share key business issues and a community driven debate is organised to find a solution. Industry/subject matter experts are invited to provide their views on the topic before we open up to the floor for our audience to vote, sharing their view. At the close of the campaign, we will organise a teleconsultation session to discuss our findings and conclude the campaign.

A journey towards customer centricity: Tailor made financial services


With the advent of modern technology reshaping customer channels, coupled with the rise of a new, tech-savvy generation, banks in Asia are rapidly making the switch - from product-centric business models to customer-centric ones. Given customers are becoming increasingly sensitive to price changes in financial services, and the comparison and switching between banks made even easier today, the onus is on banks to re-evaluate their processes from the customer's point of view and gain a wholesome understanding of their various target segments. 

The development of online and mobile media has also created a vast new public tribune with tremendous commercial potential for banks. These new channels provide unparalled insights into consumers' private lives, their consumption habits as well as user-experience preferences.

While much has been discussed and debated on banks' customer centricity efforts, do banks truly understand which customer segments to prioritise, and which groups deliver the most returns? How competently are banks making  use of customer data in their evaluation processes? With customer wants and needs becoming increasingly diverse, the crux is to develop the right messages and services to the right customer, using the right channel and at the right time.

With increasing popularity of web and mobile applications, banks around the world are trying to leverage on the advancement of these technologies, as they attempt to more accurately target their customers, forecast their future purchases, and tailor relevant financial services accordingly. Banks' market share acquisition efforts today very much depends on delivering the best customer experience whenever and wherever the customer engage with the financial services provider. 

The Asian Banker would like to hear your views on this topic, whether you agree or disagree with the motion. Vote and contribute your thoughts to be part of this debate. The debate will conclude with a teleconsultation session on the 12th of December, 2013.

All Comments (5)

Analytics require a lot of insight. The mining of data to improve customer service should be beneficial to the organisation and the customers.
16th December 2013 01:04 PM
Online has opened up a new window to the Banks to reach and understand customer requirements in a very cost effective way.Banks can provide innovative solutions by gaining personalised insights and analytics from the internet and new technology.
11th December 2013 12:43 PM
As a consumer I interact with my bank through multiple relations, if a consolidated view is available, the bank can offer me better solns. In a market with ever so many offerings - Personalized service offering will be one big differentiator
5th December 2013 11:52 AM
Gone at the days where a standardised solution fits all. With personalised insights, banks will be able to build better and more sticky relationships with clients. It is a win-win solution.
21st November 2013 12:41 PM
Some banks are already doing this and the results are visible. The more they do it for the valued customers, the bottom-line will increase.
21st November 2013 10:40 AM

Vote Here

Do you agree that personalised insights and analytics will help banks with their efforts in improving customer experience?








Results
Yes
(Votes: 86%)

No
(Votes: 6%)

For more information, please contact czafaralla@theasianbanker.com.