Category: Financial Service

How Fast is The Speed of Change: An Interview with Eliot Heilpern

CXM had the opportunity to talk with Eliot Heilpern, Director and Co-founder of The Payments Business, a member driven forum with the purpose of sharing the latest information about regulatory changes and innovations in the UK payments business. Eliot is...

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Over Half of UK Customers Dissatisfied with Online Banking Services Since the Lockdown

A new study surveying 2,000 consumers and 500 banks reveals 58 percent of customers were unable to access needed online banking services since lockdown. Many customers felt disappointed by the lack of services from their banks’ and the most common complaint...

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Why AI is key for Banks to get Ahead of Customer Expectations

It’s no secret most businesses are playing catch up with their customers. Most organisations have a Customer Experience strategy in place, but our research reveals just 14 percent feel they are ahead of the market’s expectations.  The banking sector in...

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Sorry Boomers, Millenials Really do have it Tougher in Finance

Are millennials – or as they are also known, Generation Y – really that bad with money? They are often labelled as being frivolous with cash and marketers try to capitalise on this. However, Manchester-based Freedom Finance has carried out...

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Beauty of the Beast: Weather Misery Offers Joy to E-Retailers

The recent cold weather snap known as ‘the Beast from the East’ may have caused havoc to the UK’s transport system, but it provided a welcome increase in online sales, according to newly released figures. UK online retail sales were up...

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E-Commerce Returns: Maximising Customer Satisfaction and Minimising Profit Loss

Online retailing has expanded rapidly; the growth of the internet and advancements in delivery capabilities have seen many small businesses take advantage of this, selling through online marketplaces to maximise their reach. These global marketplaces are predicted to own 39...

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Take Charge of Chargebacks

During Christmas, £17billion worth of goods are said to have been bought online alone, with an expectation for £2.5billion worth of returns to come back. With retailers and suppliers feeling increasing pressure to fine-tune their logistics and supply chain strategies...

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January Blues Fail to Deter Online Shoppers

Online retail sales were up 13.9 percent year-on-year (YoY) in January, according to the latest figures from the IMRG Capgemini e-Retail Sales Index. With rainfall above average in January, and the lowest January high street footfall recorded in five years,...

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Banks Reinvent to Remain Relevent in Digital Landscape

Banks are springing into action as the battle for the customer intensifies; according to the recent UK Customer Satisfaction Index, financial services firms have made significant improvements, in comparison to previous years. Banks and non-traditional financial institutions are shifting their focus...

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Open Banking: The New Risks

Earlier this month, new regulations in retail banking and payments across the EU came into force, allowing thousands of companies that aren’t banks to gain access to financial data and payment accounts. Many experts are predicting a digital revolution in...

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Millennials: Banking with a Tech-Savvy Generation

All banks should be aware of the importance of catering to the needs of the millennial generation, and while many are, there are significant misunderstandings around how to address these new consumers. This tech-savvy cohort is set to dictate the direction...

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Banks Face Choice: Personalise or Lose Customers

Today’s customers are expecting more than ever from their favourite brands. With a proliferation of tech-savvy companies tuned into the digital economy, customers can have on-demand access to food, transport, and endless personalised services at the touch of a button....

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Open Banking Reforms: A Golden CX Opportunity

Open Banking should be a “catalyst for greater Customer Experience” rather than a hindrance for the UK’s banks, it has been suggested as one of the biggest personal financial shake-ups in recent years gets underway. From January 13, customers are able...

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Banking on Better CX: Interview with Scott Fleming

Leading Customer Experience Consultant Christopher Brooks discusses CX matters with Scott Fleming, the Chief Customer and Commercial Officer with the Bank of Cyprus UK…   Scott, thanks very much for agreeing to meet up and share with readers the value and role...

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‘Prisoner’s Dilemma’ Chart Predicts Pound’s Chances as Brexit Talks Continue

Following the recent deal between the UK and the European Union  to move onto the next phase of Brexit negotiations, financial experts are trying to predict what the new political landscape means for the future of Sterling. Now Dutch lender ING...

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Banking on CRM to Keep Customers Saving

Customer Experience is an increasingly important task for any business, especially in retail banking. The sector is still working to repair its reputation in the wake of the financial crisis. New technology increases the avenues of engagement and customers are becoming...

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Customers Ready to Abandon Brick and Mortar Branches? Don’t Bank On It!

Customers of one of the UK’s best-known banks are fearful of a slump in service following news that many branches are to shut. RBS has announced the looming closure of 62 Royal Bank of Scotland branches, along with 197 NatWest outlets,...

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Bitcoin Bubble Burst Predicted

Bitcoin’s growth is continuing apace, hitting a new high earlier this week of  $9,700, and although early investors are happy at the rise in value, banks are worried that the bubble will burst with major fallout. There are predictions the cryptocurrency’s...

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Black Friday Shoppers to Spend ‘£20 billion’

A predicted £20 billion Black Friday spending spree is helping to save retailers from a sales-dip in October. That is according to e-commerce firm Salmon, whose Global Head of Consultancy and Innovation, Hugh Fletcher, spoke out after the release of retail...

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UK Banks Set to Lose Billions by Failing to Keep Younger Customers Loyal

88 percent of UK consumers aged between 16 and 34 say banks and lenders must do more to improve customer loyalty, research by global reviews and customer insights company Feefo has found. A total of 61 percent of respondents also say they expect...

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