UNDERSTANDING AND REDUCING SERVICE COSTS

CS-FI-Cover.jpgLarge retail banks continually struggle with high operating costs. One of the primary concerns for banking executives is banker effectiveness and profitability. With the advent of digital banking and expanded process automation, retail bankers need to optimize their time in revenue-generating activities rather than costly service activities.

One leading US retail bank partnered with ClickFox to identify the most expensive service activities for self-service migration. The focus on profitable activities is difficult for many reasons, these include but are not limited to: multiple employee customer assistance systems, various channels for customers to communicate with the bank, and ingrained customer behaviors.