Customer Engagement in Financial Services in Europe and North America

The Current and Future Financial Services Vertical


The overall objective of this research service was to look at the current and future adoption of various customer contact strategies, enabling technologies, and services, specifically in the financial services vertical. In terms of financial services, significantly more current customer interactions are taking place through email in Europe than in North America, while more interactions are taking place through chat in North America than in Europe. About 48% of customer interactions are fully automated, which is expected to grow to 60% by 2016. Overall, the use of multiple capabilities with social media customer contact strategies in the financial services vertical is expected to increase by 2016, with the largest percentage point increases expected for full integration with other contact channels and personalized marketing.

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The overall objective of this research service was to look at the current and future adoption of various customer contact strategies, enabling technologies, and services, specifically in the financial services vertical. In terms of financial services, significantly more current customer interactions are taking place through email in Europe than in North America, while more interactions are taking place through chat in North America than in Europe. About 48% of customer interactions are fully automated, which is expected to grow to 60% by 2016. Overall, the use of multiple capabilities with social media customer contact strategies in the financial services vertical is expected to increase by 2016, with the largest percentage point increases expected for full integration with other contact channels and personalized marketing.

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Regular Price: USD 12,500

Special Price USD 11,250

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Table of Contents

Research Background, Objectives, and MethodologyResearch Background and ObjectivesMethodologyOverall Firmagraphic DetailsExecutive SummaryExecutive SummaryExecutive Summary (continued)Executive Summary (continued)Executive Summary (continued)Executive Summary (continued)Executive Summary (continued)Executive Summary (continued)Customer Interaction ChannelsCurrent versus Future Customer Interaction Channels in the Financial Services VerticalCurrent Customer Interaction Channels in the Financial Services VerticalFuture Customer Interaction Channels Channels in the Financial Services VerticalIntegration Across All Customer Contact ChannelsCurrent and Future Integration of Contact Channels in the Financial Services VerticalCurrent Integration of Contact Centers in the Financial Services VerticalFuture Integration of Contact Centers in the Financial Services VerticalPrevalence of AutomationCurrent and Future Prevalence of Full Automation in the Financial Services VerticalCurrent and Future Prevalence of Full Automation in the Financial Services Vertical (continued)Prevalence of Speech Recognition in Interactive Voice Response InteractionsCurrent and Future Prevalence of Speech Recognition-enabled IVR Interactions in the Financial Services VerticalCurrent/Future Prevalence of Speech Recognition-enabled IVR Interactions in the Financial Services Vertical (continued)The Future of Outbound Customer InteractionsExpected Changes of Outbound Customer Interactions in the Financial Services VerticalExpected Changes of Outbound Customer Interactions for PCC in the Financial Services VerticalExpected Changes of Outbound Customer Interactions for Sales and Marketing in the Financial Services VerticalExpected Changes of Outbound Customer Interactions for Collections in the Financial Services VerticalSocial Media Customer Contact StrategyCurrent and Future Capabilities of Social Media Customer Contact Strategy in the Financial Services VerticalCurrent Capabilities of Social Media Customer Contact Strategy in the Financial Services VerticalFuture Capabilities of Social Media Customer Contact Strategy in the Financial Services VerticalMobile Customer Contact StrategyCurrent and Future Capabilities of Mobile Customer Contact Strategy in the Financial Services VerticalCurrent Capabilities of Mobile Customer Contact Strategy in the Financial Services VerticalFuture Capabilities of Mobile Customer Contact Strategy in the Financial Services VerticalPotential Restraints to Achieving Multichannel Customer Contact Center GoalsPotential Restraints in the Financial Services VerticalPrevalence of Systems and Applications Current Versus Future Prevalence of Systems/ Applications in the Financial Services VerticalCurrent Prevalence of Systems/Applications in the Financial Services VerticalFuture Prevalence of Systems/Applications in the Financial Services VerticalNumber of Agent Performance Optimization Vendors SourcedCurrent and Future Number of APO Vendors Sourced in the Financial Services VerticalCurrent and Future Number of APO Vendors Sourced in the Financial Services Vertical (continued)Integration of Agent Performance Optimization ApplicationsCurrent and Future Integration of APO Applications in the Financial Services VerticalCurrent Integration of APO Applications with Multichannel Applications in the Financial Services VerticalFuture Integration of APO Applications with Multichannel Applications in the Financial Services VerticalPrimary Use Cases for Agent Performance Optimization ApplicationsUsing APO Applications in the Financial Services VerticalLeveraging APO Tools in Other Departments in the Financial Services VerticalRestraints to Leveraging Customer InsightsRestraints to Leveraging Customer Insights in the Financial Services Vertical Current Use of Hosted/Cloud SolutionsCurrent Use of Hosted/Cloud Contact Center Solutions in the Financial Services Vertical Important Factors in the Decision to Move to Hosted/Cloud SolutionsImportant Factors in the Decision to Move to Hosted/Cloud Solutions in the Financial Services Vertical Hosted/Cloud Contact Center ApplicationsContact Center Applications Currently Used as Hosted/Cloud Solutions in the Financial Services Vertical Contact Center Applications Planned to be Used as Hosted/Cloud Solutions in the Financial Services Vertical Hosted/Cloud Contact Center VendorsNumber of Vendors Sourced in the Financial Services Vertical Current and Future Hosted/Cloud Contact Center Providers in the Financial Services Vertical Current Hosted/Cloud Contact Center Providers in the Financial Services Vertical Future Hosted/Cloud Contact Center Providers in the Financial Services Vertical Restraints to Moving to Hosted/Cloud Contact Center Solutions Restraints to Moving to Hosted/Cloud Contact Center Solutions in the Financial Services Vertical Customer Care Functions OutsourcedCustomer Care Outsourcing Adoption in the Financial Services Vertical Customer Care Functions Currently and Planned to be Outsourced in the Financial Services Vertical Currently Outsourced Customer Care Functions in the Financial Services Vertical Customer Care Functions Planned to be Outsourced in the Financial Services Vertical Outsourcing Customer Contact ChannelsContact Channels/Interactions Currently and Planned to be Handled by Outsourcers in the Financial Services Vertical Contact Channels/Interactions Currently Handled by Outsourcers in the Financial Services Vertical Contact Channels/Interactions Planned to be Handled by Outsourcers in the Financial Services Vertical Priority of Consistent and Seamless Customer Experiences Current/Future Priority to Deliver Consistent, Seamless Customer Experiences in the Financial Services Vertical Current Level of Priority to Deliver Consistent, Seamless Customer Experience in the Financial Services Vertical Expected Level of Priority to Deliver Consistent, Seamless Customer Experience in the Financial Services VerticalOutsourced Contact Center Seats/AgentsCurrent and Future Proportions of Outsourced Contact Center Seats/Agents in the Financial Services VerticalCurrent/Future Proportions of Outsourced Contact Center Seats/Agents in the Financial Services Vertical (continued)Outsourcing LocationsLocations of Current and Expected Outsourcing in the Financial Services Vertical Locations of Currently Outsourced Contact Centers in the Financial Services Vertical Locations of Contact Centers Planned to be Outsourced in the Financial Services Vertical Number of Outsourcers UsedAverage Number of Outsourcers Currently Used and Planned to be Used in the Financial Services Vertical Important Factors in Outsourcer SelectionCurrent and Future Outsourcer Selection Considerations in the Financial Services Vertical Important Factors in the Decision to Use Outsourcers Currently in the Financial Services Vertical Important Factors in the Decision to Use Outsourcers in the Future in the Financial Services Vertical Restraints to Using OutsourcersRestraints to Using a Third-party Provider in the Financial Services Vertical Key TakeawaysKey TakeawaysKey Takeaways (continued)Legal DisclaimerThe Frost & Sullivan StoryThe Frost & Sullivan StoryValue Proposition—Future of Your Company & CareerNorth America and Europe PerspectiveIndustry Convergence360º Research PerspectiveImplementation ExcellenceOur Blue Ocean Strategy




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