We have found that rather than simply trying to “wow” customers/members, banks and credit unions can gain more by making customer interactions as “effortless” as possible across channels. Consistent ease across all channels is what ultimately creates differentiated value and what customers will most remember. The West Monroe Partners’ 2015 Customer Effort Index in Banking Study looked at the level of effort required to do business with more than 25 national and regional banks and credit unions. Through this research, we not only identified “customer effort leaders” and the practices that those banks and credit unions employ to reduce customer effort; we also established a correlation between low customer effort and higher revenue growth.
2015 Customer Effort Index in Banks & Credit Unions Benchmarking Results
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