A Customer Experience Maturity Model

Banks are still on Mars while others are conquering Venus

April, 2015. Deloitte.

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This new report gives a fresh perspective on how new entrants to the banking industry are out-competing Banks. They do this by meeting the demand of tech-savvy, connected customers and delivering a superior customer experience. Customer experience is discussed at some length and an interesting Customer Experience Maturity Model is presented.

This report argues that customers have changed drastically over recent years and that new entrants are “mastering the art of simplicity and innovation and … are spoiling consumers with an experience that seems light years ahead of that provided by banks”.

Banks are measuring service quality when they need to measure customer experience. The former concentrates on measuring things like Service Level Agreements (SLAs), Key Performance Indicators (KPIs), Key Risk Indicators (KRIs) and how service standard are set. Customer experience, on the other hand, is the sum of all interactions (journeys) customers have throughout their lifecycle with the bank.

Key Findings

Customer experience is a holistic concept that affects all areas of a bank’s operations and organisation.
It requires banks to shift from being reactive

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