Superior customer experience (CX) is fast becoming a core differentiator for businesses across all industries. In the retail banking sector, organisations are challenged to adapt and respond to ever-changing customer expectations. Frost & Sullivan revealed in a previous report that Singapore customers are ranking CX as the single-most important factor in choosing their primary bank.
Further to the report, Frost & Sullivan conducted an online survey of 500 customers across six leading banks in Singapore, with a focus on identifying underlying CX trends in the retail banking landscape. The study uncovered:
Customers are ready to switch banks over poor customer experience
Banks in Singapore have yet to integrate silo-ed multichannels for omnichannel engagement
Contact centre and branch banking are still relevant amid growing popularity of online channels
Foreign banks are outperforming local banks in customer services in Singapore
Customer analytics is key to sustaining competitive advantage
Read the whitepaper to find out more about how the local and foreign banks are being ranked in the eyes of their very own customers.