Global banking outlook: 2013-14
Engaging with customers
Use reorganizations as opportunities to understand customers better and serve them more effectively.
As our 2012 Global Consumer Banking Survey found, customers are more likely than ever to switch their main banking relationship. They are also rapidly becoming more multi-banked: between 2011 and 2012 the percentage of customers with multiple banking relationships rose from 59% to 69% (see chart below).
To engage this market, banks must address ever-present issues such as pricing, and also achieve the following:
- Deliver a more personalized approach with more targeted products and services
- Leverage big data and customer analytics
- Embrace other new technologies such as social networks, digital banking and mobile platforms
- Use reorganizations as opportunities to understand customers better and serve them more effectively
Percentage of retail banking customers with one vs. multiple banking relationships
Source: The customer takes control, Global Consumer Banking Survey, EY, June 2012