The term “operational efficiency” is not new, and in fact, applies to many industries because it works toward a common goal: to optimize operations so they provide greater returns – whether they be faster time to market, greater volume and/or increased revenue – relative to inputs.
Banks exist to serve the financial needs of consumers, through whatever avenue works best. With the rapid evolution of technology, more tools and resources are available than ever before to determine and meet those needs. Personalization in banking works when the customer is the focus, but without customer-centricity as their anchor, banks drift from what really matters. What steps can banks take to stay focused in today’s changing financial environment?
The banking sector is uniquely placed to offer a high level of customer service that could put it in the same category as retail, a largely acknowledged leader in customer service.