Customer Engagement in Financial Services in Europe and North America

Customer Engagement in Financial Services in Europe and North America

The Current and Future Financial Services Vertical

RELEASE DATE
04-Aug-2014
REGION
North America
Research Code: NE54-01-00-00-00
SKU: IT00741-NA-CR_02024

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SKU
IT00741-NA-CR_02024

$12,500.00

$9,375.00 save 25 %

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Description

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.

Table of Contents

Research Background and Objectives

Methodology

Overall Firmagraphic Details

Executive Summary

Executive Summary (continued)

Executive Summary (continued)

Executive Summary (continued)

Executive Summary (continued)

Executive Summary (continued)

Executive Summary (continued)

Current versus Future Customer Interaction Channels in the Financial Services Vertical

Current Customer Interaction Channels in the Financial Services Vertical

Future Customer Interaction Channels Channels in the Financial Services Vertical

Current and Future Integration of Contact Channels in the Financial Services Vertical

Current Integration of Contact Centers in the Financial Services Vertical

Future Integration of Contact Centers in the Financial Services Vertical

Current and Future Prevalence of Full Automation in the Financial Services Vertical

Current and Future Prevalence of Full Automation in the Financial Services Vertical (continued)

Current and Future Prevalence of Speech Recognition-enabled IVR Interactions in the Financial Services Vertical

Current/Future Prevalence of Speech Recognition-enabled IVR Interactions in the Financial Services Vertical (continued)

Expected Changes of Outbound Customer Interactions in the Financial Services Vertical

Expected Changes of Outbound Customer Interactions for PCC in the Financial Services Vertical

Expected Changes of Outbound Customer Interactions for Sales and Marketing in the Financial Services Vertical

Expected Changes of Outbound Customer Interactions for Collections in the Financial Services Vertical

Current and Future Capabilities of Social Media Customer Contact Strategy in the Financial Services Vertical

Current Capabilities of Social Media Customer Contact Strategy in the Financial Services Vertical

Future Capabilities of Social Media Customer Contact Strategy in the Financial Services Vertical

Current and Future Capabilities of Mobile Customer Contact Strategy in the Financial Services Vertical

Current Capabilities of Mobile Customer Contact Strategy in the Financial Services Vertical

Future Capabilities of Mobile Customer Contact Strategy in the Financial Services Vertical

Potential Restraints in the Financial Services Vertical

Current Versus Future Prevalence of Systems/ Applications in the Financial Services Vertical

Current Prevalence of Systems/Applications in the Financial Services Vertical

Future Prevalence of Systems/Applications in the Financial Services Vertical

Current and Future Number of APO Vendors Sourced in the Financial Services Vertical

Current and Future Number of APO Vendors Sourced in the Financial Services Vertical (continued)

Current and Future Integration of APO Applications in the Financial Services Vertical

Current Integration of APO Applications with Multichannel Applications in the Financial Services Vertical

Future Integration of APO Applications with Multichannel Applications in the Financial Services Vertical

Using APO Applications in the Financial Services Vertical

Leveraging APO Tools in Other Departments in the Financial Services Vertical

Restraints to Leveraging Customer Insights in the Financial Services Vertical

Current Use of Hosted/Cloud Contact Center Solutions in the Financial Services Vertical

Important Factors in the Decision to Move to Hosted/Cloud Solutions in the Financial Services Vertical

Contact 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

Number 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 in the Financial Services Vertical

Customer 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

Contact 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

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 Vertical

Current and Future Proportions of Outsourced Contact Center Seats/Agents in the Financial Services Vertical

Current/Future Proportions of Outsourced Contact Center Seats/Agents in the Financial Services Vertical (continued)

Locations 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

Average Number of Outsourcers Currently Used and Planned to be Used in the Financial Services Vertical

Current 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 a Third-party Provider in the Financial Services Vertical

Key Takeaways

Key Takeaways (continued)

Legal Disclaimer

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

North America and Europe Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
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.
More Information
No Index No
Podcast No
Author Ashwin Iyer
Industries Information Technology
WIP Number NE54-01-00-00-00
Is Prebook No