World Retail Banking Report 2013 from Capgemini and Efma

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One of the biggest problems facing retail banks today is their inability to stand out in an increasingly commoditized and competitive marketplace. Few banks are forging innovation in developing new products, and as the role of the branch continues to diminish banks are not connecting with customers in a personalized way. New delivery channels, while offering convenience, have created an inconsistent and disjointed experience for many customers.

Providing insights into customer attitudes towards retail banking, the Report uses a comprehensive Voice of the Customer survey which included over 18,000 retail banking customers in 35 countries. The responses provide the basis for our proprietary Customer Experience Index which measures customers’ banking experiences across 80 different touch points to reach a specific Customer Experience score. Countries are then ranked by this score to create the Index.

The World Retail Banking Report 2013 is available in English. For more information, visit www.worldretailbankingreport.com.

Published in: Economy & Finance, Business

World Retail Banking Report 2013 from Capgemini and Efma

  1. 1. 2013 World Retail Banking Report
  2. 2. 3 Preface 5 Chapter 1: Achieving Differentiation in a Commoditized Market 6 2013 Customer Experience Index Findings 9 Customer Retention Analysis 12 Channels as Differentiators 15 Chapter 2: Unlocking the Potential of Mobility 16 Acquiring the Digital Advantage 18 Evolving Usage of Mobility in Banking 20 Embracing Mobility: A Move towards Customer Centricity 25 Chapter 3: Going Back to the Basics: Becoming a Customer-Centric Bank by Leveraging Data 26 The Customer Bank Relationship Has Become More Complex but Less Personal 28 Customer Data Is Not Being Effectively Utilized for Generating Customer Insights 31 The Way Forward: Deploy Data in Pursuit of Business Goals 34 Appendix 36 Methodology 37 About Us Contents
  3. 3. Capgemini and Efma are pleased to present the 2013 World Retail Banking Report. One of the biggest problems facing retail banks today is their inability to stand out in an increasingly commoditized and competitive marketplace. Few banks are forging innovation in developing new products. Nor are they connecting with customers in a personalized way as the role of the branch continues to diminish. And new delivery channels, while offering convenience, have created an inconsistent and disjointed experience for many customers. More than ever, banks have a need to decipher the customer experience to better understand the drivers of positive outcomes. New channels have added complexity to this process, especially since customer preferences on banking channels may shift based on any one of a number of factors, such as how old customers are, what country they are in, or what type of products and services they are seeking. The 2013 World Retail Banking Report seeks to address these nuances by establishing a detailed framework for identifying and measuring success in retail banking. Our Customer Experience Index (CEI) improves upon traditional measures of customer attitudes by incorporating customers’ standards and expectations, alongside their channel preferences, to shed light on whether customers are having positive experiences in the areas most important to them. Our findings show that channels have a greater potential to distinguish banks, compared to products and services. The mobile channel in particular is expected to emerge as a primary competitive differentiator that banks can use to attract new customers and retain existing ones. We created the CEI by beginning with a large, in-depth investigation of the many voices and opinions around the world that make up the modern bank’s retail customer base. Our Voice of the Customer surveys queried more than 18,000 customers in 35 countries across six geographic regions, making it one of the most detailed studies of its kind. In this report we have identified five core elements that are essential to helping banks re-create the strong relationships they once enjoyed with customers. We also found that customer satisfaction levels in each core area are much lower than the level of importance customers ascribe to each factor. These results underscore the need for banks to improve satisfaction within each core area or risk losing customers. Additionally, in this report, we have examined mobility’s role in achieving customer-centric banking. We found that banks have done an effective job of developing mobile capabilities that improve the customer experience, but have yet to begin developing mobile capabilities that address the sales and marketing aspects of customer-centricity. As always, it is a pleasure to provide you with our findings. We hope you continue to find value in the World Retail Banking Report’s insights. Jean Lassignardie Global Head of Sales and Marketing Global Financial Services Capgemini Patrick Desmarès Secretary General Efma Preface
  4. 4. 11chapter 1 Figure 6 Correlation between Banks’ Knowledge of Their Customers’ Needs and Customer Experience FIGURE 6 Correlation between Banks’ Knowledge of Their Customers’ Needs and Customer Experience Western Europe Middle East & Africa Asia-Pacific Central Europe North America Latin America83.4% 82.9% 80.5% 79.1% 77.5% 76.2% 33.8% 45.7% 28.4% 34.8% 31.6% 26.8% Of the Banking Customers with a Positive Experience, What Percentage Feel Their Banks HAVE Good Knowledge of Their Needs (%), 2013 Of the Banking Customers with Negative Experience, What Percentage Feel Their Banks HAVE Good Knowledge of Their Needs (%), 2013 Note: Positive experience comprises of customers with CEI score greater than 79 and Negative experience comprises of customers with CEI score less than 40. Customers who feel their bank has knowledge of their need are those who somewhat agreed, agreed, or strongly agreed with the statement that their bank understands their needs Source: Capgemini Analysis, 2013; 2013 Retail Banking Voice of the Customer Survey, Capgemini Figure 7 Correlation between Customer Experience and the Trust and Confidence that Customers Have in their Banks FIGURE 7 Correlation between Customer Experience and the Trust and Confidence that Customers Have in Their Banks Western Europe North America Latin America Asia-Pacific Central Europe Middle East & Africa92.8% 92.1% 91.3% 89.8% 89.6% 86.7% 42.1% 38.3% 37.6% 28.2% 45.7% 27.1% Of the Banking Customers with a Positive Experience, what Percentage HAVE Trust and Confidence in Their Banks (%), 2013 Of the Banking Customers with Negative Experience, What Percentage HAVE Trust and Confidence in Their Banks (%), 2013 Note: Positive experience comprises of customers with CEI score greater than 79 and Negative experience comprises of customers with CEI score less than 40. Customers who feel they have trust and confidence in their banks are those who somewhat agreed, agreed, or strongly agreed with the statement that they have trust and confidence in their bank Source: Capgemini Analysis, 2013; 2013 Retail Banking Voice of the Customer Survey, Capgemini
  5. 5. For more information, please contact: Capgemini banking@capgemini.com Efma wrbr@efma.com For press inquiries, please contact: EMEA Marta Saez msaez@webershandwick.com or +44 (0) 207 067 0524 North America and Rest of the World Cortney Lusignan clusignan@webershandwick.com or +1 212 445 8192, or Maria Cianfichi mchianfichi@webershandwick.com or +1 212 445 8187 Karine Coutinho karine@efma.com or +33 1 47 42 69 82 www.capgemini.com/wrbr13 www.efma.com/wrbr Visit

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