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The Need for Customer-Centric Digital Innovation
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anon5208061334
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anon5208061334,
User Rank: Apprentice
7/23/2014 | 2:31:55 AM
re: The Need for Customer-Centric Digital Innovation
Nice Post. Yes I agree with Patty here. The whole banking system has become custome centric. Here is a link which describes this process in detail. It also explains how Banks meet the expectations of their audience?

http://blog.xerago.com/2012/10/driving-banking-business-a-customers-perspective/
AJRam
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AJRam,
User Rank: Apprentice
6/6/2014 | 11:26:56 AM
re: The Need for Customer-Centric Digital Innovation
Not only are they relaxed about sharing the data across all and sundry, they are also less sticky (less loyal) than the old world banking customers. It is more important for a bank to address issues first in the newer channels than say at a branch!!

Customer centricity, very simply put, is the
ability of a bank to sell the right product at the right time at the right
price through the right channel. This may sound clich+Źd but the challenges that
a bank faces in implementing it are many & complicated. The approach to
customer centricity can be broken down into a number of sub-segments, each of
which constitutes a different challenge. From my point of view, for a bank to
be more customer-centric it should focus on four key areas namely Customer
Information Management, Multi-Channel Integration, Operational Excellence &
Intelligent, Real-Time Cross-Selling.
rahulkumargr
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rahulkumargr,
User Rank: Apprentice
6/5/2014 | 8:01:54 AM
re: The Need for Customer-Centric Digital Innovation
I think what PayPal is tryinig to with the PayPal Beacon (BLE Technology) is a very good example. Also, they are trying to address a real problem, remove friction from payments.
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
5/27/2014 | 8:48:09 PM
re: The Need for Customer-Centric Digital Innovation
Yes there has to be a tangible reward. And I think OfferHub's a pretty good example.
Kelly22
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Kelly22,
User Rank: Author
5/27/2014 | 6:34:47 PM
re: The Need for Customer-Centric Digital Innovation
I'm not sure I'd say that younger consumers don't care, but they are more relaxed about sharing their data in exchange for improved service or rewards. A service like OfferHub may seem invasive to some customers because of the tracking technology, but it would appeal to younger users who see it as a means of getting discounts simply by having their phone with them.
Patty Hines
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Patty Hines,
User Rank: Apprentice
5/27/2014 | 5:22:29 PM
re: The Need for Customer-Centric Digital Innovation
Everything old is new again? Customer-centricity has been a buzz word in banking for years. Wondering how banks will allay consumer privacy concerns about having their "journeys" tracked--or do younger consumers not care?


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