In the World of Digital Banking Customer Retention is Key
The customer is top of the agenda for banks and financial institutions. The emergence of digital-savvy customers with huge expectations has revolutionised competition and increased customer churn.
In this white paper, we share a fresh perspective on the criticality of customer retention and how digital technology can help in developing an effective strategy. While banks have been successful in some of their customer retention strategies, there are a few market-centric challenges that they need to consider.
• Open Banking Regulation
• Finding out what your customer wants
• What your customers love about your competition
• Macro-economic challenges
• Shorter Customer Lifetime Value