Business Transformation: Outside-In Experience Led
Winning trust with people’s investment forms the backbone of Banking and Financial sectors. A clear overview to the customers of a complex industry helps winning trust. Long and fruitful relationships between a bank and the customer are built by the staff. How they serve the customer is really important.
You need to equip teams of all your touchpoints(branches, digital channels etc.) with data driven insights to optimize the customer experience.
Customers have changed in the last few years. They are more demanding and better informed. But brands have not kept pace with the change.
Upgrade of sales/service process is required in the industry to match the innovative range of new products and evolving customer.
The key to future branch/staff level success will be the transformation of the branch network into a welcoming, consultative, efficient and modern service environment. To achieve this, RedQuanta has developed a 3 step transformation framework consisting of three building blocks:
To achieve the transformation outlined above we use the Outside-In approach. It simply means that truly listening to customer experiences outside leads to transformational changes inside.
- Measuring (with benchmarking) and managing performance is the first building block. This will lead to optimization of branch performance within the network. Here we narrow down the spread of performance within the branch network.
- Then in the second building block we work on enhancing branch performance through innovation and adoption of relevant best practices. We delineate a new or at least enhanced business model and begin to test these innovations in live environments.
- The third building block consists of transitioning the complete branch network to enhanced and innovative performance framework using a holistic roll out plan in sync with the new retail strategy.
We leverage our capabilities outlined below to partner brands in their journey to success.
- R - Research with scale, speed and accuracy. We use mystery audits, sentiment analysis, NPS etc. to define customer expectations and measure actual experiences.
- A - Analytics to impact all business functions. Insights are made available real time online and on mobile apps. Different stakeholders get recommendations relevant to their function. For example training team get inputs to do customized regional and branch level interventions and management gets inputs to shape their strategy.
- C - Consulting approach to meet your unique challenges and goals. Our consultants bring deep expertise of Financial services industry to the table.
- E - Enabling execution at ground level. We create system, processes and tools to help your team deliver. Our technology allows real time action planning and closure tracking. You build accountability and fix issues much faster as a result.