The ‘Bridging the CX gap’ study highlighted the numerous touchpoints accompanying customer journeys across both digital and traditional channels—the challenge is becoming ever more complex.
It revealed that while the UK banking and insurance sectors are closing the customer experience gap steadily, there are still a few challenges.
Tom Daniell, Retail and Brand Marketing Director at Aviva noted that : “every business has a cultural challenge that says: ‘how do we [shift from being] a company that hasn’t historically prioritised customer experience?”
The survey put Banking as the leading sector in nine out of ten areas, when it came to providing ‘excellent’ experiences, specifically carrying out basic online tasks, smartphone capabilities and speed of service.
Four in five respondents in the survey stated that they were likely to recommend the company to a friend or colleague based on their online experience. 48% of them stated that they would highly recommend the company.
The insurance sector was also performing well, however respondents were found to be on the less likely side (41%) to highly recommend a company to a friend or colleague based on their online experience.
Customers gave high importance ratings for responsiveness to online enquiries, and expectations that their online experiences reflected other dealings with the company.
“As a financial services provider, security is the number-one expectation. The next is certainty – that when I make a payment, it works,” states Michael Sherwood, Head of Customer Experience at Atom Bank.
Banks were seen as particularly advanced in CX. In nine out of ten areas, they were the leading sector when it came to providing ‘excellent’ experiences.
Consumers rating insurance companies show a similar range of priorities as those in banking, but rate the quality of online experiences were lower across every attribute compared to the banking sector.
Anne-Marie McConnon Chief Marketing Officer – Investment Management, BNY Mellon stated: “Being invested in what matters most to clients does bring some healthy challenges along the way. For example, creating a sustainable holistic approach end-to-end isn’t always easy.”
“That said, our teams see this as an opportunity to deliver the best we can for our clients. Knowing this has corporate focus creates a great place to work, learn and grow, with our people feeling confident in challenging us to continually improve all we do.” She added.