Experts discuss the relevance of customer experience in financial services during a recession

An interesting article on the importance of customer experience (CX) in the financial services sector during times of economic downturn. Experts that included Global CX leaders discussed the importance of CX excellence in differentiating financial services companies from their competitors, increasing customer loyalty and retention, more effective acquisition of new customers, and a reduction in the cost of serving existing customers. They also highlighted that focusing on CX can lead to greater shareholder value and staff motivation and talent retention. The article also addresses the issue of acquiring funding for CX initiatives during an economic downturn and how companies can track and measure the success of their CX programs. Additionally, the panel agreed that CX must focus on the end-users, and companies need to provide data to support agents to help customers immediately. Furthermore, companies should be proactive in creating mechanisms to support their customers, such as easing their worries in case of credit card fraud. submitted by /u/pupunggi [link] [comments]