Designing Banks

[CUSTOMERS] Transforming Banking Experience

Financial institutions value the relationship with their customers and are looking to provide more personalized products and services that better meet their financial needs, independent of the time of the day or the delivery channel. Customers are now demanding an experience from their banks similar to the customer-centric services they get from other industries, such as retail, travel and entertainment. As a result, banks are striving to deploy technologies and information technology (IT) architectures that help enable new marketing and sales programs, more dynamic and timely employee training, and improve business process improvements to optimize a collaborative customer experience.  more. . .

VIA: Cisco and IBM to Transform Banking Experience

RELATED:

• IBM Front Office Solutions for Retail Banks 
• Cisco Front Office Solution for Retail Banks 
• Front Office Solutions for Retail Banking 
• IBM and Cisco Front Office Solutions for Retail Banking (PDF - 2MB)

[FUTURE] Center For Future Banking Web Site

From MIT MEDIA LAB CFB:

Rethinking Banking for the Twenty-First Century

Researchers at the Center for Future Banking, in collaboration with Bank of America, will explore how emerging technologies and insights into human behavior can transform the customers' experience and elevate the role of the bank in their financial lives. We seek to invent new ways to anticipate the needs and desires of customers down to the level of the individual, to put every customer in total control of his or her own financial futures, to rethink the experience of customer-bank interaction as virtual and physical reality become increasingly intertwined, and finally to leverage the unique position of a bank to make people's lives simpler and more fulfilling.  [more . . .] 

from MIT MEDIA LAB -- Center For Future Banking

VIA:   MIT MEDIA LAB -- Center For Future Banking

RELATED:

• NEWS-MIT + B of A 
• Center For Future Banking 
• Bank of America Newsroom

[CUSTOMERS] Delivering The Customer Experience

In this video, John Armstrong from IBM discusses technology and delivering the customer experience.  His bottom-line . . . let the customer drive the use of technology and not the reverse.

Up to this point, we have employed technology to build a digital structure in which our customers followed an almost predefined path to banking services. That's not only hard on customers, but totally ignores their very valuable input.

Technology should be considered a utility, like electricity, that powers the customer's banking experience. A resource to help construct a service-saturated environment quickly responding to changing needs, and not the high-priest of frustrating formats.  When we remember the customer is in control, we  listen . . . watch . . . and THEN let technology do its job.

Now, let me leave you with a thought.

Consider one of your branches . . . are you helping or herding?

The video touches on:

• Greater customer control and access   
• Technology becoming customer-centered
• Mining customer opinions and expectations
• Understanding links between customer attitude and customer behavior   
• Brand promises and expectations
• Cumulative negative effects and customer shut-down

VIA: TechWeb Network