To blame are product commoditisation and ‘product-push’ strategies, inconsistent channel access and service levels, together with the successful inroads of new entrants with fresh customer value propositions.
The banking environment remains extremely challenging. Competitive, economic and regulatory pressures have all combined to prevent banks from achieving the levels of revenue growth experienced before 2008.
Imran Moten, Financial Services Market Lead in KPMG’s Management Consulting practice outlines a customer strategy for banks in his latest thought leadership article entitled Customer ‘moments of truth’.
Globally, leading banks have identified a direct link between customer ‘moments of truth’ and service delivery, net promoter scores (NPSs) and revenue impact. The article is the first in a series of articles from KPMG’s Management Consulting practice for banks in South Africa, and has been distributed to a select audience in the big four South African banks.
Download the article.
Please contact Imran Moten or Martin Vipond to discuss further.