Customer-centricity in retail banking

John Berry, senior advisor at Efma, explains why he thinks customer-centricity is the biggest innovation in retail banking.

Customer-centricity in retail banking


Berry began the interview by discussing how he sees the future of digital banking evolving around Europe.

“I think that when you look at digital banking, there is an awful lot of innovation going on, there are some superb banks around Europe doing some really interesting things. The key areas tend to be within the mobile area, that’s where customers are getting engaged with it. People can’t live without their smartphone these days, therefore if they can do their banking online and on the move wherever they are, then that’s what the banks are delivering.”

When asked about the most exciting trends emerging at the moment, Berry went on to discuss customer-centricity and how banks are looking at everything from a customer perspective.

“I think as far as trends are concerned, they vary around the globe in terms of the channels as we are moving away from channels towards looking at everything from a customer perspective. I think for me, what I’m pleased to see is banks being much more in tune to what the customer wants.”

Berry concluded the interview by explaining what he feels the biggest issues facing the retail banking industry are.

“Cultural change is the major issues facing banks, you’ve got to try to see the world from a customer point of view and you’ve got to learn from other industries so the retail industry, the airline industry learn from other sectors about how customers interact with them.”

Watch the full interview:

Keywords

Customer service Digital/Mobile channels Customer experience

Geography

International