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In banking, it’s the digital/traditional mix

Ike Suarez | Nov. 15, 2013
SunGard report advisory to SEA and Mideast banks is to integrate the two kinds of platforms for customer satisfaction and loyalty

This would address consumers' needs in these regions whose financial knowledge is limited. The survey showed only 17 percent of respondents said they were well informed about financial products and services.

Another 38 percent of respondents said they had little or no financial knowledge. "The challenge for banks is to strengthen their capabilities for educating and advising their customers especially in the branch setting," the report said.

Digitalizing Branches

Branches would also have to make their processes as simple and efficient as possible to create the best possible customer experience, according to the report.

"By establishing systems that link their virtual and physical channels, banks can not only address and fix process issues to improve service, but also optimize their customer relationship," the report said.

This would result in staff becoming capable of making informed recommendations and giving more appropriate, customized financial advice to customers.

"So, while consumer demands on retail banks may be growing, the tools to meet these demands are also  at the banks' disposal.

Sungard has its head office in Wayne Pennsylvania and has a presence in 70 countries. It claims to be the largest privately held IT software and services company in the world.

Loudhouse Research is based in London and in a suburb nearby.

 

 

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