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Nov 2017 - IDC Perspective - Doc # US43162417

2017 U.S. Consumer Survey: Retail Banking Customer Journey Yields Numerous Opportunities

By: Marc DeCastroResearch Director, Consumer Banking, Karen MasseyResearch Manager, Consumer Banking


This IDC Perspective discusses the findings of our 2017 Consumer Banking Channel Preference Survey of U.S. banking and credit union customers. This document focuses on our nationally representative U.S. respondents. Based on the results of this survey, we dive into various delivery channels, including ATM, branch, call center, mobile, and social. This study specifically focuses on the customer journey — how the retail customer perceives the banking industry and where banks should invest to improve experience.

Understanding the customer journey is beginning to take center stage as the financial service industry transforms itself away from looking at the bank as the center of the relationship.

"It has taken some time and advances in technology to get the industry to finally put the customer in the middle and build out processes and solutions that start with the customer experience as opposed to bolting the experience on after the fact", says Marc DeCastro, research director at IDC Financial Insights. "Yet there is still much work to be done. This research shows that while banks have done an excellent job at maintaining the trust of their customers, they have not done such a great job personalizing the experience or providing value-added services utilizing the data gathered on the customer. For a bank to truly be disruptive, they will need to figure out how to deliver timely advice and offers to customers on a multitude of delivery channels."



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