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Infographic: World Retail Banking Report 2014

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The World Retail Banking Report 2014, by Capgemini and Efma, indicates a downshift in customer experience for the first time in 3 years

The World Retail Banking Report 2014, by Capgemini and Efma, indicates a downshift in customer experience for the first time in 3 years

Published in: Business, Economy & Finance

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  • 1. Source: Capgemini Financial Services Analysis, 2014; 2014 Retail Banking Voice of the Customer Survey, Capgemini Global Financial Services Copyright © Capgemini Financial Services 2014. All Rights Reserved www.worldretailbankingreport.com For more information, email banking@capgemini.com The Great Social Media Divide What Customers Want versus What Banks Provide What channels are customers using to interact with their bank? Where are banks implementing social media functionality? 20142013 Social Media PhoneBranchMobileATMInternet 60% 57% 50% 46% 13% 22% 16% 14% 11% 8% NA 10% %CustomersInteractingWithChannels atLeastOncePerWeek % of Banks +10% customers globally who use social media at least once a week to interact with their bank Asia-Pacific home to most frequent users of social media banking (16%) Gen Y customers are more likely to switch from mobile to social media banking 42% banks say they have no intention of offering transactional capabilities through social media 58% banks say they will not offer account information 32% banks currently offer collaborative functionality; another 51% plan to soon Account Information Transacting Social / Collaboration Servicing Information Gathering 56% 37% 8% 48% 43% 9% 32% 51% 17% 16% 42% 42% 14% 29% 58% Implemented / Under Implementation Offer in the Future No Plans / Unlikely to Offer Source: Capgemini Financial Services Analysis, 2014; 2014 Retail Banking Voice of the Customer Survey, Capgemini Global Financial Services Copyright © Capgemini Financial Services 2014. All Rights Reserved www.worldretailbankingreport.com For more information, email banking@capgemini.com Global Customer Experience Declines For First Time in Three Years Banks Face Inflection Point in Meeting Customer Expectations North America is the only region with positive customer experience over countries showed a decrease in positive customer experience of +10% Latin America was the only region to improve in percentage of customers with positive experiences 50% 25% more likely to stay 3x more likely to Refer or Buy More Products 3-5x Positive Experiences Retain Refer Generation Y (born between 1980 and 2000) are far more interested in using the mobile channel compared to other age groups. Positive experiences, the importance of mobile and social media have grown substantially… …while the importance of all other channels— branch, internet, ATM and phone—has decreased more than other age groups Gen Y Customers Have High Digital Expectations