Benchmarks Web

Customer Experience

Provides detailed, operational benchmarks to help improve service delivery for key customer interaction points.

The Customer Experience Benchmark provides a business-case assessment to quantify the financial impact of service improvements and provides proven best practices to guide decision making and action planning.

Why it's important

Customer experience continues to increase in strategic importance for retail banks. The rapid update of digital channels and changes in customer behavior add to the challenge. However, in reality few banks have made material improvements in core service indicators in recent years and fresh perspectives are required to influence change. The Customer Experience Benchmark helps participants to address critical questions such as:

Key touch points:
  • Are our branch service levels competitive?
  • How well do we retain and grow online customers?
  • What level of peak ATM downtime is acceptable?
  • What level of first-touch call resolution is required to be considered best-in-class?
Complaints handling:
  • What does it take to achieve leadership in complaints handling?
  • What resolution speeds are required?
  • Which operating models are most effective?
  • How can digital channels be used to deliver an enhanced complaint-handling experience?
"Moments of truth”:
  • How do we perform on key moments of truth such as current account opening and onboarding, mortgage applications, and fraud?
  • Which operational metrics should be used to measure the end-to-end customer experience ?
  • What targets should we set for our organization?
  • What impact should best-in-class capabilities have on outputs such as preventable attrition, customer dormancy, and account closure?
  • What financial impact should our organization be able to achieve?
  • What is the business case for further investment?
Customer experience:
  • What organizational models do best-in-class banks have?
  • How do they measure the customer experience?
  • Which executive behaviors shape the culture in high-performing banks?

What the Customer Experience Benchmark provides

  • Use an in-depth diagnostic for an external ‘health check’ of performance, highlighting strengths, weaknesses, and opportunities
  • Set robust, operational targets to improve performance and quantify the business case for service improvement to persuade key stakeholders of the need for change
  • Develop a concrete action plan supported by best-practice insights
  • Monitor progress over time

Complaints handling

Quantify financial impact