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Banks Must Stop Selling Banking Products and Instead Begin to Offer Real Solutions
An interview with Michael Ruckman, Founder and President of Senteo, Inc. and Tom Mouhsian, Partner and Managing Director for Eastern Europe (Las Vegas, USA).
What customers want is the result that is attained with the help of a banking product. A bank is only an instrument of achieving the desired outcome. Banks need to accept that. They must stop trying to sell banking products. Instead, banks should offer solutions that would help their customs to realize their specific goals.
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Emerging as a compelling alternative to traditional banking, neobanks place a strong emphasis on providing swift banking services, responsive customer support, fair fee structures, and user-friendly financial products.
The key goal of lifecycle management is to maximize the customer's lifespan with the bank, integrate them into everyday banking services, and increase product penetration, which will enable solving the customer's problems in the long term. In this article, we will discuss the details and practical examples that banks can use in their customer lifecycle management.
In this article, we will analyze a new category of processes designed to cultivate customer relationships. These processes seamlessly integrate into sales and service operations, forming a unified approach that facilitates smooth transitions between products throughout the length of the customer's interaction with the bank.
Michael Ruckman talks about Customer Experiences & Customer Journeys, The three faces of Digital for Retailers and the state of leadership in the retail market today.
This quick 5-minute video explains the difference between User Experience, Customer Experience and Life Experience, provides examples of each and explains the difference between CEM and CXO.
Last News
The global shift towards digital innovation and technology has prompted Kazakh banks to migrate online, forcing them to focus on customer experience to secure a strong position in the market.
On May 28, Ksenia Konstantinova, Senteo's Director for Central Asia and the Middle East, spoke at an international conference at the Management Development Institute on Singapore in Tashkent (MDIS Tashkent).
The main results, excerpts and conclusions in the presentation format on the results of the three-year research of the Customer Experience Index (CEI) in the banking sector of Uzbekistan and other Central Asian countries conducted by Senteo in collaboration with the Marketing Association of Uzbekistan.
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