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Philippines Retail Banking Customer Experience Management Study 2021
Benchmarking Industry Excellence in Delivering a Superior Customer Experience
07-Jul-2021
Asia Pacific
Market Research
Frost & Sullivan's Customer Experience Management study in the retail banking sector explores customer experience among banking providers in the Philippines, mainly the Philippine National Bank (PNB), BDO Unibank, Bank of the Philippine Islands (BPI), Metrobank, Union Bank, and Landbank. Customer experience is the accumulation of a customer's experiences throughout his/her journey with a supplier across functions, products, services, and touchpoints. The Philippines continues to capitalize on the growing number of retail bank users in Southeast Asia as many individuals rely on banking services and products for personal and business uses.
The research focuses on the critical factors that influence customer behavior throughout the three stages of their retail decision-making journey: pre-purchase, purchase, and post-purchase. At each stage, the study evaluates the key parameters that contribute to customers' decision to purchase from and transact with a retail bank and their preferred channels or touchpoints. This study adopts the proprietary Customer Experience Index methodology and the widely used Net Promoter Score metric to understand the dynamics between customers and retail banks in the Philippines.
Author: Krishna Baidya
Frost & Sullivan Research Approach
Frost & Sullivan Research Approach—Step-by-step Overview
Overview of Research Process
Sampling Methodology
Data Collection Quality Process
Sample Distribution—Primary Retail Banks
Sample Demographics—Respondents’ Age and Gender
Sample Demographics—Main Products/Services Purchased
Frost & Sullivan Customer Experience Index
Customer Experience Management in the Philippines Retail Banking Sector in 2021—Overview
Customer Experience—Definition
Factors in Choosing Primary Retail Bank
Factors in Discontinuing Service with Primary Bank
Preferred Channel in Consumer Decision-Making in the Retail Banking Sector
Degree of Channel Integration
Products/Services Recommendations by Primary Bank
Overall CEI Score by Channel/Touchpoint
CEI Score by Primary Bank—Overall Experience
Net Promoter Score
Customer Loyalty Rewards
Service Discontinuation
Service Discontinuation Rate among Primary Banks
Most Used Channels for Banking Products/Services
Preferred Channels for Banking Products/Services
Preferred Channels for Banking Products/Services (continued)
Customer Priority Experience Matrix
Customer Frequency Experience Matrix
Degree of Channel Integration
Prioritizing Superior Customer Experience and Living up to Sales Promises
Customer Loyalty Rewards
Proactive Behavior of Banks
Customer Experience by Channel/Touchpoint
Factors for Choosing Primary Retail Ban
Products/Services Recommendations by Primary Bank
Channels Used in the Pre-purchase Stage
Channels Used for Pre-purchase Inquiries
Customer Experience with Touchpoints in the Pre-purchase Stage
Customer Experience Evaluation in the Pre-purchase Stage by Channel
Channels Used in the Purchase Stage
Preferred Channels in the Purchase Stage
Customer Experience with Touchpoints in the Purchase Stage
Degree of Satisfaction—Online Platform
Degree of Satisfaction—Branch
Degree of Satisfaction—Mobile Application and Call Center
Degree of Satisfaction—Sales Agent and ATM
Degree of Satisfaction—Real-time Messaging and Chatbot
Channels Used in the Post-purchase Stage
Revisited Channels for Post-purchase Inquiries
Channels Used for Post-purchase Inquiries
Customer Experience with Touchpoints in the Post-purchase Stage
Customer Experience Evaluation in the Post-purchase Stage by Channel
Customer Satisfaction, Loyalty, and Recommendation
Overall CEI Score by Channel/Touchpoint
CEI Score by Primary Bank—Overall Experience
CEI Score for Branch
CEI Score for Online Platform
CEI Score for Contact Center
CEI Score for Mobile Application
CEI Score for Self-service Channels
Net Promoter Score
Why Frost & Sullivan
Customer Experience—Definition
Integrating Process, People, and Infrastructure
Frost & Sullivan’s Customer Experience Maturity Model
A 5-step Strategic Approach
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
Legal Disclaimer
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| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Krishna Baidya |
| Industries | Information Technology |
| WIP Number | PBC9-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9533-C1,9702-C1,9705-C1,9884-C1,9661 |