Singapore Banking Services Customer Experience Management

Singapore Banking Services Customer Experience Management

Benchmarking the Industry Excellence in Delivering Superior Customer Experience

RELEASE DATE
05-Aug-2015
REGION
Asia Pacific
Research Code: 9AF5-00-06-00-00
SKU: IT02968-AP-MR_16829
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Description

In this first Customer Experience Management report for Retail Banking industry, Frost & Sullivan explores the relationship of the experiences provided by banks for its customers. We look at the critical factors that influence customer behaviours throughout the three phases (pre-purchase, purchase and post-purchase) of their journey, through the companies' touch-points.

Table of Contents

Frost & Sullivan Research Approach

Frost & Sullivan Research Step-by-Step Overview

Overview of Research Process

Sample Methodology

Data Collection Quality Process

Sample Distribution by Banks

Sample Demographics—Age and Gender

Sample Demographics—Monthly Personal Income

Frost & Sullivan Customer Experience Index

Customer Experience Management (CEM) for the Singapore Banking Services in 2014

Customer Experience—Definition

Factors for Choosing Primary Bank

Factors for Discontinuation of Primary Bank

Preferred Channel for Banking

Preferred Channel across Stages

Online Vs Mobile Channels

Customer Experience Index—Definition and Score

Overall Customer Experience Index Score by Primary Banks

Net Promoter Score by Banks

Channel Integration and Feedback by Banks

Product and Service Recommendation by Banks

Customer Loyalty Reward by Banks

Reason for Service Discontinuation

Preferred Channel for Customer Interaction

Branch vs Website Transactions

Average Frequency of Branch Visit

Customers’ Top Priority-experience matrix

Degree of Channel Integration

Priority of Superior Customer Experience and Living up to Sales Promises

Customer Loyalty Reward

Customer Satisfaction

Degree of Satisfaction/Dissatisfaction—Internet Vs Mobile Channels

Customer Experience With Contact Centre

Factors for Choosing Primary Bank

Product and Service Recommendation by Primary Banks

New Product Consideration by Primary Banks

Channel Used at Pre-Purchase Stage

Channels Used for Pre-Purchase Enquiry

Evaluation of Experience in the Pre-Purchase Stage by Customer Experience Indicators

Customer Experience With Touch-points

Channel Preferred by Banks

Preferred Channel at Purchase Stage

Channels Revisited for Post-Sale Queries

Channel Used for Post-Sale Enquiry

Customer Experience With Touch-points

Customer Experience With Touch-points (continued)

Customer Loyalty, Recommendation and Additional Purchase

Overall CEI Score by Touch-points

Overall CEI Score by Primary Bank

CEI Score for Branch Banking

CEI Score for Online Banking

CEI Score for Contact Centre

CEI Score for Mobile Banking

CEI Score for Self-Service Facilities

Net Promoter Score

DBS Group—Customer Transaction Preference

DBS Group—Customer Priority-Experience profile

DBS Group—Frequency of Interaction-Customer Experience Profile

OCBC Bank—Customer Transaction Preference

OCBC Bank—Customer Priority-Experience profile

OCBC Bank—Frequency of Interaction-Customer Experience Profile

United Overseas Bank—Customer Transaction Preference

United Overseas Bank—Customer Priority-Experience profile

United Overseas Bank—Frequency of Interaction-Customer Experience Profile

Contact Centre—Where is it Headed With Regards to CEM?

Mobile Banking Application—Is this the Next Differentiator?

Would Banks Shift from a Hard-sell Approach to Needs-based Analysis to Engage Customers?

Would Improving Customer Rewards Programmes Positively Impact Both Customers and Banks?

Why Frost &Sullivan

Customer Experience—Definition

Integrating Process, People and Infrastructure

Frost & Sullivan’s Customer Experience Maturity Model

A 5-step Strategic Approach

Legal Disclaimer

Definitions

The Frost & Sullivan Story

Related Research
In this first Customer Experience Management report for Retail Banking industry, Frost & Sullivan explores the relationship of the experiences provided by banks for its customers. We look at the critical factors that influence customer behaviours throughout the three phases (pre-purchase, purchase and post-purchase) of their journey, through the companies' touch-points.
More Information
No Index No
Podcast No
Author Iskandar Ishak
Industries Information Technology
WIP Number 9AF5-00-06-00-00
Is Prebook No