CXFS 2024 Blog

American Express Puts the Work/Life Balance of Its Customers Front and Center

Maintaining a healthy work/life balance is an important part of general well-being, and people today are living ever more blurred lives. American Express wanted a way to show that it understands these two aspects of their customers' life experiences with its new campaign.

CXFS 2023 Case Study: JP Morgan Chase & Co

As the largest bank in the US based on total assets, and the world’s largest bank by market capitalization, JP Morgan Chase & Co is uniquely positioned to lead the industry when it comes to providing customers with the kind of next generation experience they expect when dealing with financial services providers. With over a century of experience backing it up (the original entity JP Morgan & Co was founded in 1871) and being made up of several global institutions, JP Morgan Chase & Co has seen dozens of banking trends come and go – from the first ATMs removing the need for customers to visit a teller to withdraw cash, to post-millennium technical innovations such as online banking and video conferencing.

Digital Versus Human Interaction: Striking the Right Balance

One of the biggest questions facing the financial services industry right now is to what extent we should be investing in traditional physical touchpoints and digital ones respectively. While many people claim the future is digital, we are seeing consistent evidence there is still a place and desire for human interaction in the financial services market. Clearly, however, there is a balance to be struck between the two and those service providers which are able to get the proportion right will be the ones most likely to succeed in the next evolution of the business. However, those which fail to address this most burning of questions may find themselves struggling to provide their customers with the kinds of experiences they want and need in the future.

The importance of User Experience in Digital Banking

We talk a lot about customer experience in these articles – we are CXFS after all – but we don’t seem to pay as much attention to another facet of the modern financial services delivery model – user experience. In a world which is becoming increasingly technology focused the need for customers to be able to interact with digital tools in a way which is logical, seamless, and enjoyable is of the utmost importance. Neglecting user experience can have customers abandoning your digital tools in droves or even moving away from your brand altogether.

Personalization in 2023 Financial Services

Personalization is a core component of many businesses out there today. After years of collecting and analyzing customer data, those customers now expect the brands they deal with to use that information to provide them with products and services tailored to their personal preferences. In fact, research has consistently shown that customers are even willing to pay more for products and services if they receive a personalized service. And, while these kinds of discussions are often focused on the retail and hospitality industries, the financial services space needs to sit up and pay attention as well.

The Importance of Consistent Messaging Throughout the Customer Experience

We often hear about the importance of consistency in business. Whether you work in the kitchen of a restaurant and have to make sure every serving of a dish is exactly the same, or you run a hotel and want every guest to have a comparable experience, consistency is the key to satisfied customers and repeat business. The same is true of the financial services industry. Whether a bank or investment firm, you need to make sure all your customers and clients receive the same key messaging throughout their journey with your organization.

Delivering Across the Full Spectrum of Customer Needs Through Omnichannel Banking

There’s little doubt that we live in a world driven by digital technology and online interactions. Omnichannel banking is back on the menu for 2022 and those brands which want to compete in the next new normal are going to need to renew their focus on proving customers with a choice of seamlessly merged channels.

Redefining Customer Experience Through Personalization

Research tells us that customers are hungry for personalized experiences. It may seem contradictory to expect personalized services in the financial industry these days. Banks used to be famous for delivering personal services where the local manager would be an important member of the community who knew their customers well.

How Financial Brands Can Stave Off the Great Resignation

One of the more unexpected challenges to emerge as a result of the COVID-19 pandemic has been the so-called "Great Resignation". It would be remarkably simple and convenient to chalk the Great Resignation up to simple laziness, but financial brands would be mistaken to pin the phenomenon on such a dismissive and simple cause.

Eastern Bank is Partnering Up to Streamline Its New Account Opening Experience

After a slump caused by the global COVID-19 crisis, digital account opening is on the rise once again and financial brands the world over would do well to focus customer experience efforts on this process. However, brands need to make sure the actual experience of registering for a new account online is streamlined and transparent.

JP Morgan is Embedding Payments and Treasury in Its D2C Customer Experience Strategy

When thinking about customer experience, we can often get bogged down with facets of it such as interacting directly with them, such as when trying to resolve customer service-related issues. As part of its ongoing strategy, financial giant, JP Morgan has been looking for ways to bring payments and treasury together to create a superior customer experience for its D2C customers.

Navy Federal Credit Union is Sweeping the Board when it comes to Customer Experience Awards

Customer experience is one of the biggest differentiators people consider when choosing a financial institution to do business with. Customers today don’t just want to know the brands they trust are going to treat their money well, but that they’re also going to treat them well.

USAA Goes Beyond Insurance to Create Amazing Experiences for Veterans

Whatever your feelings about US foreign policy, few could argue with the fact we as a society should take care of service men and women when they return from the theatre of conflict. United States Automobile Association [USAA] has dedicated itself to making sure past and present members of the armed forced were able to access banking and insurance services tailored towards them and their experiences.

Regions is Pushing the Omnichannel Experience for Its Customers

As we cautiously move further out of the worst days of the COVID-19 crisis, many financial institutions are taking it as an opportunity to reassess their position in the post-pandemic world. These factors and more are what have driven Regions to pour time and resources into omnichannel experiences which leverage the best of both digital and physical banking services to create customer experiences relevant across the post-pandemic landscape.

Cohesive Design and the Financial Customer

Customers of financial brands expect a cohesive experience across channels. Here’s what the power of cohesive design can do for the customer experience.

CX and Compliance Don’t Have to be Opposing Forces; A Look at Customer Data in Financial Services

Customer experience is a key differentiator, but strict compliance policy is typical in the financial services space– these don't have to be opposing forces.

The Customer Buying Process

The steps you need to take to help you sell your solution

JPMorgan Chase Has a Digital Strategy that Puts Customers First

Fintech innovation is exploding, and JPMorgan Chase is leading the way

Debitize Wants to Help Millennials Build Credit without Accumulating Debt

Debitize's goal is to "automate" good financial habits

Are Capital One Cafés a Blueprint for the Modern Branch?

How is Capital One preparing for the future of the bank branch?

Acorns Targets Millennials With Shopping as Investing

Is this the investment strategy that will finally resonate with a new generation of investors?

Here's How Acorns is Growing Investment to Improve the Financial Literacy of its Customers

A huge proportion of the American public feels left behind when it comes to financial literacy and inclusion. However, FinTech company Acorns is taking steps to improve the investment experience for its customers.

Here's How Citizens Bank is Mapping a Journey to Great Customer Experiences

Journey mapping can be a great way for companies to view things from a different perspective, and Citizens Bank is using it to drive contact center customer experiences.

Here's How Bank of the West is Making Sure Cyber Criminals Don't Ruin their Customers' Experience

Cybercrime is becoming an ever-more regular occurrence, and the methods of criminals are growing in sophistication. However, Bank of the West is applying fresh thinking to ensure that fraud does not ruin the banking experience for their customers.

Here's How Bangor Savings Bank is Fostering a Sense of Community with Its New Rewards Program

Rewards schemes are nothing new. However, Bangor Savings Bank is using its rewards program to benefit its customers and their communities.

How Scotiabank is not Putting All Its Eggs in One Basket When It Comes to Innovation

Meaningful innovation is the beating heart of the machine which drives great customer experiences, both within and without the financial industry.

How First Tennessee Bank Revamped Mobile Banking with a FinTech Partnership

Despite the fact that First Tennessee Bank is renowned for providing a first-class service, if the mobile banking offering doesn't match up, it's simply impossible to meet the growing expectations of digitally-savvy millennial customers.

Mastercard Is Transforming Travel Experience with a New Digital Platform

As experienced players in the travel finance space, Mastercard is more than aware of this problem and has decided the time has come for a solution. This is why it's launched a new digital platform designed to offer its traveling customers unprecedented peace of mind when it comes to booking a hotel stay.

Visa's Security is at the Forefront of Its New Customer Experience Strategy

With the European Commission set to introduce another set of regulations - Strong Customer Authentication (SCA) - in September, Visa is working hard to make digital payments more secure than ever. With the European Commission set to introduce another set of regulations - Strong Customer Authentication (SCA) - in September, Visa is working hard to make digital payments more secure than ever.

Wells Fargo's Digital Strategy To Transform Customer Experience

With its new Control Tower app, Wells Fargo is setting out to address the problem by making it easier than ever for customers to keep track of recurring payments and maintain better control over them.

Point of Sale Payment Plans Are Taking Off -- Citizens Bank Is Ready

Demographic still wants to be able to access big ticket items, and so are open to new ways of financing these purchases without relying on traditional credit streams - as long as the finance is over a fixed term and only for specific purchases.

Here's How USAA Became the World's Favorite Financial Brand

USAA has garnered a reputation for being a best-in-class example of excellent customer experience. Net promoter scores (the ratings given by customers after contacting customer services) for USAA in 2018 were, on average, four times higher than other banking providers - a crown which USAA has held for the past eight years.