Customer management, however, is not that easy to achieve. This has to be built around those attributes that their customers most value—trust, convenience, personalized service and value for money products, Wright said.
“Even as they seek ways to build stronger relationships with their clients, banks also need to be mindful of their internal processes and efficiency while keeping an eye on profitability. There is great pressure to continuously delight customers while managing costs and staying profitable in the post-financial crisis era,” said Wright.
This is particularly true in Asia, where the banking landscape continues to evolve and where banks need to find an effective way of fulfilling their customers’ needs for an enhanced experience, without sacrificing profitability.
In a recent survey by Ernest & Young, 44 percent of customers worldwide said their confidence in the banking industry had decreased in 2010. In fact, 22 percent of banking customers cited lack of trust as the reason for changing banks.
“Banks need to reassure their clients and the best way to do that is to ensure that their customer experience is always good. That means ensuring that services are convenient for the clients. It also means providing them banking services in the new platforms now available to them, including mobile and online,” said Wright.
Fortunately, technology makes achieving this fine balance possible. As the market grows and consumer needs evolve, technology has to deliver the most important customer values: trust, convenience, individualized service, and value for money.
SunGard, one of the world’s leading software and technology services companies, brings these technologies to the Philippines, where it is used in 30 installations, including 7 of the country’s top 10 banks. SunGard’s Manila office was established in late 2004 with more than 100 employees in roles ranging from software development, business consulting, technical consulting, to client support services, and sales and marketing.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
SunGard’s Ambit Customer Management suite is one example of how technological innovations can help banking organizations create more profitable relationships by balancing the needs of customers and their demands for a convenient, individualized and “value-for-money” experience. It provides those features that customers especially value.
For instance, Ambit MyMoney allows the customer to customise their experience by configuring the user interface to match their individual preferences; widgets, favorites, and the ability to create a personal landing page layout. This not only provides a uniquely personalized environment for the customer to conduct their banking, it also encourages customer loyalty.
