telKosh | Global Communications’ Post

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AI-powered recommendations can help banks build stronger relationships with their customers by providing relevant and timely offers. This can increase customer satisfaction and loyalty. #AIPowered #PersonalizedBanking #CustomerEngagement #Banking

By focusing on retaining high-value customers, banks can improve customer satisfaction and loyalty. This can lead to increased referrals and positive word-of-mouth, ultimately driving business growth. #CLV #Banking #CustomerLoyalty

Maximizing customer engagement and loyalty is crucial for success in banking. Our latest blog dives into how well-designed loyalty programs can build lasting customer relationships while driving business goals. skp.link/59fy #CustomerLoyalty #Banking #FinancialServices #SimonKucher

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I recently shared a post about understanding your customer's needs in the banking industry. It's crucial for financial institutions to effectively meet the changing demands of their customers and provide personalized services. Understanding your customer can lead to better products, improved customer satisfaction, and increased loyalty. #banking #knowyourcustomer

𝗖𝗹𝗲𝗮𝗿 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀 𝗶𝗻 𝗿𝗲𝘁𝗮𝗶𝗹 𝗯𝗮𝗻𝗸𝗶𝗻𝗴 𝗶𝘀 𝗸𝗲𝘆 𝘁𝗼 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝘀𝗮𝘁𝗶𝘀𝗳𝗮𝗰𝘁𝗶𝗼𝗻. In retail banking, inaccurate translations can lead to misunderstandings and lost business. RWS Group provides precise translation services to ensure your communications are clear and consistent, enhancing customer satisfaction and operational efficiency. Learn more: https://lnkd.in/eh4XTd83. #RWS #RWSFinancial #Banking #Translation #CustomerSatisfaction #RWSGroup #Communication

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A really interesting and hands-on perspective from Simon Kucher on customer loyalty programmes in banking. I think it might be very applicable for other (subscriptional) businesses as well - at least as food for thought... However, in many cases discussions on customer loyalty are narrowed down to the potential development of explicit loyalty programmes. These programmes often require a significant investment of time and mental ressources from the consumers they target. According to a McKinsey study (from 2020), the average (American) consumer is member of no less than 23 loyalty programmes - all requiring some kind of involvement from its members. So the fight for the consumers' attention is firce Many companies can take intentional and strategic steps to improve customer satisfaction without launching explicit transactional loyalty programmes that require consumers to understand, digest and accept reward schemes. Instead, companies could chose to focus on what I would call "implicit loyalty programmes", where consumers are nudged to take actions leading to higher levels of loyalty without them ever signing up to a (-nother) loyalty programme. Why do many consumers replace their iPhone with new iPhone instead of a device with a different brand? The product is great - yes - but it is also just so much easier and convinient for the consumer - isn't that the essence of loyalty? Loyalty programmes come in many shapes and forms, but the first question in Simon Kuchers framework is a great place to start; "Why offer a banking loyalty program?". What are the best loyalty programmes you have come across? Please share your experience, thoughts and reflections...

Having an advance ATM monitoring and management platform is key to maintain high network availability and keep the operational cost on reasonable level.