Customer Experience
Service / Financial Services Consulting
Global Economics Group Risk Advisory Practice provides financial institutions with comprehensive risk management consulting services, including banking and capital markets, insurance, wealth and asset management, and other sectors.
A better customer experience can materially improve your business performance.
Customer Experience
Competitive Differentiation
In an industry where products and services are often similar, superior customer experience has become a primary way for banks to stand out from competitors. With many consumers perceiving little difference between banks, the quality of CX can be a decisive factor in attracting and retaining customers.
Customer Retention and Loyalty
Banks that provide excellent CX are more likely to retain customers and build brand loyalty. Satisfied customers are less likely to switch to competitors and more likely to expand their relationship with the bank.
Increased Profitability
Banks focusing on CX see tangible business results, including higher return on investment (ROI), faster growth, and increased share of wallet. Customer-centric banks have been found to have a share of wallet that is 1.9 times higher than those that neglect CX.
Cross-Selling and Upselling Opportunities
Customers who have positive experiences with everyday transactions are more likely to consider additional products and services from the same bank, such as mortgages or investments.
Reduced Costs
Effective CX can lead to lower customer acquisition costs and reduced cost to serve, as satisfied customers require less support and are more likely to use self-service options.
Adaptation to Changing Customer Expectations
Modern banking customers demand more personalized, convenient, and seamless experiences across multiple channels. Banks that meet these expectations are better positioned to succeed in an evolving marketplace.
Brand Advocacy
Banks that excel in CX benefit from increased word-of-mouth recommendations and positive reviews, which can attract new customers at a lower cost.
Trust and Credibility
In an industry where trust is paramount, positive customer experiences help build and maintain credibility, which is essential for long-term success.
We help organizations design, implement, and optimize their customer experience strategies to more effectively meet customer needs and expectations.
Customer Experience
CX Strategy Development
We work with companies to create a cohesive, customer-centric business strategy that aligns with organizational goals.
Experience Design
We help design connected customer journeys across various channels, including digital self-service, contact centers, face-to-face interactions, and AI-powered touchpoints.
Assessment and Benchmarking
We evaluate current CX capabilities, compare them to industry best practices, and identify areas for improvement.
Workshops and Consulting
Specialized workshops, such as Customer Experience Exploration or Omnichannel Optimization, to help organizations focus on critical aspects of CX delivery.
Technology Integration
We help leverage emerging technologies like AI and automation to enhance customer interactions and operational efficiency.
Employee Engagement
We help align employee experiences with customer experiences to create a holistic CX ecosystem.
Measurement and Analytics
We define key performance indicators (KPIs) and implement systems to track and analyze CX metrics.
Continuous Improvement
We offer ongoing support to help organizations adapt to changing customer needs and market trends.
Team

Tim Attinger
Advisory Board
Financial Services Consulting

John Couzens
Advisory Board
Financial Services Consulting

Christopher S. Rigg
Principal
Financial Services Consulting
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