Hear what customer experience business leaders say is holding back CX transformation in banking and insurance
Budget isn’t the problem. The roadmap and level of maturity aren’t the issues. The main stumbling block for banking and insurance organisations is the giant legacy systems that don’t talk to each other, preventing new tech from being utilised.
This is to be expected. Most involved in the sector are well aware of the challenge. But what are the deeper ramifications? What is the full impact on processes, work-arounds and the experience of customers as well as employees? Our speakers Richard Farrell, Chief Innovation Officer, Alex Ballingall, Banking Account Director, and Graham Chesney, Insurance Account Director, explore the issues, bringing together their vast experience of technology solutions in the insurance and financial sectors.
They analysed the findings from our research, conducted with 200 senior Customer Experience (CX) and Digital Transformation management at leading UK-based insurance brokers, underwriters, retail banks and building societies. They looked at:
- CX change – Not driven by cost pressures, but key drivers are increasing operational efficiency and customer retention. Why is this?
- Legacy – How can you ensure new applications integrate and work collaboratively with existing core platforms? And how are future upgrades affected?
- Culture – Obstacles are appetite to change and leadership (ahead of budget) – how do you implement successful change?
- Omnichannel – How do you achieve this? What do you gain by bringing all communications channels together?
- Pace – How do you keep up when CX expectations are driven by Amazon? Do you need an IT army or different tools?
Customer Experience Research conducted by Hayhurst Consultancy for Netcall and The Davies Group in August-September 2021. 360 senior Customer Experience and Digital Transformation management at leading UK-based Financial Services businesses, NHS Trusts and in Local Government were surveyed.