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CSP provides a range of useful information, articles and videos to help you get a full grasp on your business's customer service experience.
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+1.25%
The average CSP Financial institution client has increased their Customer Experience score +1.2% over the past year.
The average CSP Financial institution client has increased their Customer Experience score +1.2% over the past year.
30 November, 2022

New technology in financial services is becoming increasingly specific to the individual, often including personalized recommendations and communications based on customer data. Moreover, the days of generic, one-size-fits-all ads and messaging are quickly going by the wayside and being replaced by persuasive and relevant content. Beyond advertising, this concept of targeted and relevant content applies […]

ARTICLE
30 November, 2022

The success or failure of your financial institution starts from the top, and as a leader within your organization, it’s important to establish the right perspective and goals for your team. However, the day-to-day management of budget, staffing and addressing short-term issues can cloud leaders’ vision of the future and their responsible guidance of their […]

ARTICLE
30 November, 2022

In 2022 and beyond, technology in the financial services space is changing faster than ever. Banks and credit unions are finding ways to make their online tools and customer data work harder than ever, unifying both sides of the equation to create something deeply useful and personalized with the goal of an enhanced customer experience. […]

ARTICLE
28 September, 2022

The digital experience is full of distractions. It’s easy to get carried away with brainstorming new features, somehow convincing ourselves that the financial institution with the highest number of features wins. Obviously, this isn’t true, but it raises the question: What elements of a digital experience truly improve customers’ lives? At their absolute best, digital […]

ARTICLE
28 September, 2022

Legacy customer profiles have historically been created using broad umbrellas to segment and understand customer behavior. Geography, age and income are top-of-mind characteristics that facilitate the way banks and credit unions have historically analyzed and grouped their customers, and dictated the way they expect those individuals to behave. For example, banks may expect high-income individuals […]

ARTICLE
28 September, 2022

Financial institutions have the unique opportunity to serve other B2C organizations as a partner for their embedded finance platforms. Explained most simply, embedded finance are bank-like services offered by non-banking institutions. Features like accounts, flexibility of payment and access to credit define embedded finance, but the process can be facilitated by a financial institution who […]

ARTICLE
31 August, 2022

While financial institutions are constantly working to improve their processes and fine tune the customer experience, the reality is that they can still be wildly imperfect. This harsh reality is especially difficult to accept when executives and directors work tirelessly to analyze every pain point, improve every point of contact, and regularly roll out new […]

ARTICLE
31 August, 2022

Customers across industries are increasingly looking for personalized experiences. Where customers used to shop and interact with brands – a unique value proposition, personality and set of products – they are now gravitating toward organizations who can most accurately identify and address their needs. In this way, “brands” now function more as a mirror than […]

ARTICLE
31 August, 2022

When you think of staffing your financial institution, you may think of standard positions – tellers, financial advisors and a management hierarchy. However, now more than ever, financial institutions require creative, tech-familiar and customer-experience-oriented staff to drive their organization forward, reimagine the customer experience and help gain a competitive edge. Consider the following attributes when […]

ARTICLE
30 June, 2022

While most organizations have a solid digital plan in place, many find it hard to separate themselves from the crowd. Digital and omni-channel banking is certainly a must-have, but as a major part of your business, it should serve to help your brand and organization stand out and impress. Consider the following to make sure […]

ARTICLE
30 June, 2022

Your customer experience is dictated by a large array of customer journeys and touchpoints. Each interaction your brand has with a customer is an opportunity to delight and impress, and technology now plays and part in more of those touchpoints than ever before. Accordingly, you bank or credit union’s branch staff need to think of […]

ARTICLE
29 June, 2022

With major changes in the housing market for 2022, interest rates rising and the global financial landscape shifting, it’s easy to overlook individual consumer experience in banking. In reality, there have been seemingly subtle, but important, shifts in consumer expectations that will separate winners from losers in 2022 and beyond. Take a moment to make […]

ARTICLE
30 March, 2022

Customer experience is best delivered when it doesn’t feel like an “experience” at all, but rather, a seamless part of your customers’ day-t0-day lives. By removing friction, your brand becomes less of a separate entity, and more of an extension of your customers’ thought process and needs, creating a greater intimacy and mutually beneficial relationship. […]

ARTICLE
30 March, 2022

Exceeding customer expectations doesn’t just feel good — it’s a core driving force for your financial institution. Too often, financial institutions are forced to apply fees and extract value from their customers in order to drive profits on a quarterly basis. However, this approach leads to poor customer experience, lowered enthusiasm for you financial institution’s […]

ARTICLE
30 March, 2022

Financial institutions are put under more pressure than ever before to perform across a wide variety of facets and offerings. They need to offer state-of-the-art technology, drive customer experience, become a partner that betters their clients’ financial lives, establish competitive offerings and evolve more quickly than ever before, just to name a few. With so […]

ARTICLE
2 March, 2022

At a high level, customers want more and less interaction with their financial institution simultaneously. 2022 will see increased interaction and monitoring of their financial life, but will experience more of this activity through digital, rather than in-depth and in-person interactions. Customers will have higher expectations of their financial institution, and think of their FI […]

ARTICLE
2 March, 2022

When directors and executives at financial institutions think about generational differences, technology often serves as the biggest indicator for behavioral changes, and this stands true for Gen Z. As a generation fully immersed in online technology and banking since day one, they think about online experiences differently, and have higher and unique standards than their […]

ARTICLE
1 March, 2022

It’s no secret that customer centricity wins in banking. Financial institutions that begin with a customer need, then subsequently build a framework to support that need, have excelled in the past and will continue to do so in the future. In 2022, your financial institution should focus on the basic foundations of customer experience in […]

ARTICLE
25 January, 2022

Customers, whether they know it or not, are incredibly demanding. Financial institutions and retailers are constantly working to gain an edge over competitors in customer experience, privy to how that edge improves their bottom line and creates a differentiated product and experience. In that regard, retailers and points of commerce will work in 2022 to […]

ARTICLE
25 January, 2022

2021 saw an explosion of activity across FinTech and FI partnerships, increased sophistication of customer-facing tools and resources, a reinvigorated focus on using technology to support the customer journey, and adapting to a new Covid reality. In 2022, those same tools will become more sophisticated and truly impactful in customers’ lives, mobile-first technology will dominate […]

ARTICLE
24 January, 2022

In 2022, banks and credit unions will look to expand their view on financing options for customer, using creative thinking, flexible options and expeditious customer service to improve the customer experience and gain a competitive edge. Consider the following options when thinking about how your financial institution approaches financing options. Buy Now, Pay Later The […]

ARTICLE
21 December, 2021

Many financial institutions are openly engaging with FinTech organizations to support their innovation initiatives and expand the way their organizations can ensure security, create personalize back-end value adds, and give customer-facing tools that can deepen their relationship with an organization. Below are a few examples of how FinTech can be leveraged and applied to your […]

ARTICLE
21 December, 2021

2021 was a transformative year for financial services, with an extended effect of Covid-19, a low-interest and heavy inflation business environment, and a challenging new regulatory environment in the expansion of cryptocurrencies and online payments. Financial institutions should focus on the lessons learned from the past year, largely in terms of the importance of innovation […]

ARTICLE
21 December, 2021

Looking ahead to 2022, financial institutions can expect a cooling down of the market in order to curb above-average inflation, an emphasis on talent management, a booming crypto market and an emphasis on payments modernization. Consider a few of the following trends when thinking about your strategy for this next year: Fed Rate Hikes The […]

ARTICLE
17 November, 2021

The past two years have driven more and more customers into the digital space, including late adopters who may be less tech-savvy than other customers. With this in mind, your digital offerings have increased in importance, and your financial institution should focus on competitive advantages to differentiate your brand. Consider the following approaches to help […]

ARTICLE
17 November, 2021

Considering the amount of effort your financial institution puts into acquiring new customers, your attention to retain customers by differentiating yourself should be a top priority. However, in the banking world, differentiation can sometimes prove challenging. Consider the following ways to make your financial institution stand out and create a unique, personalized experience for your […]

ARTICLE
17 November, 2021

As a financial institution, your organization has the unique opportunity to play a daily role in the lives of your customers. The chance to serve as a constant underlying function of their purchasing, organizing, budgeting and overall family wellbeing entrusts your organization with a great deal of responsibility and upside. When you consider customer experience, […]

ARTICLE
26 October, 2021

Financial institutions tend to react to customer needs, and then work to serve those needs as best as possible. A request for a new loan results in a timely response and a competitively low rate. If a customer overdrafts, a bank may transition money into their account to notify them of the overdraft after it […]

ARTICLE
26 October, 2021

Most financial institutions focus on their customers in a large brushstroke, considering the ways their offerings interact with their customers. In particular, financial institutions get more granular regarding customers journeys — working to understand various customer paths leading to different products and services, and the touchpoints along the way. Getting a granular perspective on the […]

ARTICLE
26 October, 2021

Most financial institutions have heard of and considered adding universal bankers to their staff. These jack-of-all-trades representatives fill the roles of both a teller and a personal banker, serving as a diversified representative who can handle a wide variety of requests and tasks in a variety of settings. The benefit of the universal banker is […]

ARTICLE
24 August, 2021

When banking professionals think about topics such as personal finance, there are a series of logical arguments that come to mind, which serve as common, no-nonsense, universally accurate advice. For example, the idea of investing for retirement early in order to reap the benefits of compound interest is inarguably touted as sound financial advice, yet […]

ARTICLE
24 August, 2021

By turning a spotlight on your organization’s customer experience strategy, you can begin to ask yourself hard questions around the efficacy of your customer experience strategy and, in turn, identify opportunities for improvement. Consider the following questions when looking for ways to improve your customer experience. Is it Intuitive? Consider your organization’s mobile app. How […]

ARTICLE
24 August, 2021

When a financial institution undergoes a major shift toward improving customer experience, there is often talk around new initiatives, improved technology and an effort to work more efficiently as an organization. All of these ideas are great, but it’s important to think of customer experience less as a short-term initiative, and more as a long-term […]

ARTICLE
27 July, 2021

When executives and directors of financial institutions think of their brand, it’s easy to think of the people who make up your organization, your core values, and the mission of your organization. However, this internally perceived brand reputation can be very different from the way current and potential customers perceive your brand. Most notably, the […]

ARTICLE
27 July, 2021

Financial institutions who fall short on customer experience tend to lack a sophisticated and well-defined plan for improving customer experience. More importantly, this lack of organization is typically due to a lack of conviction about the efficacy of customer experience improvements. Customer experience is about so much more than a vague, happy sentiment a customer […]

ARTICLE
27 July, 2021

FinTech partnerships are incredibly valuable tools. Rather than taking on the responsibility and burden of understanding an intricate sub-element of your business environment, such as security or sophisticated customer data analysis, you can partner with an organization to take that burden off your hands and find mutually beneficial ways for both of your organizations to […]

ARTICLE
29 June, 2021

Universal banking is a tried and true method of developing traditional tellers and process-focused staff into organizational consultants with a wide-reaching breadth of knowledge and abilities to serve customers. These jack-of-all-trades banking staff members can meet a customer, learn about their unique needs, and address a wide range of requests, from loan applications, to account […]

ARTICLE
29 June, 2021

In 2021, banking technology that was once at the forefront and considered exploratory is quickly proving its mettle, becoming adopted by a wider audience, proving profitable for financial institutions, and improving the overall customer experience. Consider the following when thinking about your overall digital suite, and how you can effectively incorporate the following four features […]

ARTICLE
29 June, 2021

Many financial institutions think about technology first, trying to roll out the most sophisticated and elaborate suite of technology they can muster. Despite this, they sometimes fail to engage their customers in a meaningful way because their customers were never the focal point of that technology in the first place. Pre-existing services, the status quo, […]

ARTICLE
26 May, 2021

If mobile-first banking was already underway, Covid-19 simply accelerated the trend. Moving into the future, this piece of your business is an absolute must to have rock solid. Consider the following to make sure your digital transformation is mature and prepared for the future. Establish Your Digital Leadership Any successful financial institution should have a […]

ARTICLE
26 May, 2021

By now, your organization likely knows that having a staff of universal bankers offers your organization more flexibility in terms of staffing, creates more career fulfillment by providing opportunities, and most importantly, creates a better customer experience by enabling one continuous interaction to serve customer needs. With all of these benefits in mind, you should […]

ARTICLE
26 May, 2021

Digital offerings, whether mobile or online, are created with the intention to enhance the customer experience, bring customers closer with your brand, and develop a richer atmosphere for everyday consumers to address their financial lives. Sometimes, when thinking about the digital experience, it’s easy to get carried away with brainstorming new features, somehow convincing ourselves […]

ARTICLE
27 April, 2021

The Universal Banker, a jack-of-all-trades financial services representative who is trained in a wide variety of tasks, has never been more relevant than now. Transformational technology, omni-channel experiences, complex financial situations, an evolving branch, and a highly competitive customer experience landscape all add to this relevance. When training your banking staff to be as knowledge-diversified […]

ARTICLE
27 April, 2021

2020 was a difficult year for business owners, employees and the entire financial world. Beyond the public health crisis ensuing from Covid-19, the economic engine of the world was hampered by restrictions limiting interpersonal interaction. Now, in 2021, your new and existing customers are dealing with the the effects of this economic lag, even as […]

ARTICLE
27 April, 2021

When the professional world, both in terms of financial services and beyond, thinks of customer experience, certain catch phrases come to mind: omni-channel experience, budgeting tools, and your mobile app’s interface. However, how often is your customer experience truly focused on human interaction? When most organizations map out their customer journeys, there are many non-human […]

ARTICLE
30 March, 2021

Too often, financial institutions position themselves as background utilities, ready when you need them, but often failing to engage customers on a regular basis. In order for your financial institution to be top of mind and constantly deepening relationships with customers, you need to be proactive in your communication. Think about the following ways you […]

ARTICLE
30 March, 2021

As a financial institution, you offer a variety of services and products, ranging from business loans to the value derived from your personal banking mobile app. Each facet of your organization – the people, the technology, the unique value propositions – serves as a unique reason a customer might seek out your organization. In this […]

ARTICLE
23 March, 2021

In order to satisfy your customers, you need to know them, and in order to know them intimately, you need to gather, record and make available as much information about them as possible. How are you currently managing your relationships with your customers? What do you know about them? How accessible is that knowledge, and […]

ARTICLE
23 February, 2021

Financial institutions aren’t perfect. This harsh reality is especially difficult to accept when executives and directors work tirelessly to analyze every pain point, improve every point of contact, and regularly roll out new initiatives and offerings to improve the customer experience. The regular rolling out of new initiatives should give us solace in this imperfection; […]

ARTICLE
22 February, 2021

When we think of our own financial institution, we think of active service, the inner-workings of our digital platform, and the countless ways we work to engage with customers and improve their experiences with our organization. However, the reality for customers can be quite different. Customers might not think of your financial institution as being […]

ARTICLE
21 February, 2021

Though it might sound surprising, Gen Z is more likely to use branches than even Millennials. This goes against common intuition. Aren’t Gen Z the most tech-fluent generation yet? Will they even want branches at all? The reality is their financial uncertainty, the evolution of the branch and the experiences they’re listening to and absorbing […]

ARTICLE
26 January, 2021

The digital explosion of small, medium, and large financial institutions only accelerated in 2020 due to in-person restrictions from Covid-19. As a result, many organizations chose to make this a major focus, and the space evolved at a rapid pace, and it’s important your organization takes stock to see where the industry is headed, and […]

ARTICLE
26 January, 2021

2020 was a year of huge change, with a global pandemic, government stimulus checks, and an immediate need to switch to a more digital way of life. On the tail end of this past year, banks and credit unions will need to adjust to the new reality, the aftermath of Covid-19 and how the global […]

ARTICLE
26 January, 2021

While you probably think of your financial institution as a combination of services, digital products and the individuals who make up your organization, your customers view your organization as a brand. They think comprehensively about their experience with your organization, and diverse pieces of your business, such as your mobile deposit, their debit card, and […]

ARTICLE
22 December, 2020

While most organizations have a solid digital plan in place, many find it hard to separate themselves from the crowd. Digital and omni-channel banking is certainly a must-have, but as a major part of your business, it should serve to help your brand and organization stand out and impress. Consider the following to make sure […]

ARTICLE
22 December, 2020

It may be difficult to think ahead during times of uncertainty, but financial institutions should take a moment to consider the way the financial services world is changing, and how they can best serve customers in the following year. When planning for the year ahead, consider the following trends and possibilities for your organization. Ramped-Up […]

ARTICLE
22 December, 2020

2020 was a year unlike any other. Covid-19 was a massive shock not only to the public health of the world, but to the economic systems that rely to varying degrees on interpersonal interaction. Financial services are unique in that banks and credit unions feel their customers’ financial stresses — seeing the large-scale economic disruption […]

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24 November, 2020

With Covid’s impact on all aspects of life, it’s important to take stock in you organization’s ability to ride the wave of change, incorporate new obstacles into your plan, and create a meaningful and valuable experience for your customers. Those who can be agile and ride this wave of change will be rewarded with loyal […]

ARTICLE
24 November, 2020

Most financial institutions are constantly evaluating and re-evaluating their digital platforms, thinking of ways they can improve the technology they offer, stay up-to-date with the competitive landscape, and check the necessary boxes to consider themselves digital leaders. However, too often, these measures don’t maintain a customer-centric approach. Leaders and decision makers feel pressure to “keep […]

ARTICLE
24 November, 2020

Covid has likely had major implications on the way your financial institution operates and serves its customers on a day-to-day basis. Make sure you’re considering the following to ensure customer satisfaction during a tumultuous time. Help Out and Listen Make sure your organization is in tune with the stresses of your customers, and understand the […]

ARTICLE
16 May, 2019

“Personalization” is a hot topic within the customer experience world. The core concept of personalization is to establish a brand interaction and customer journey that feels less like a major corporate personality, and more like a reflection of the customer making a purchase. When this concept is applied to financial services, delivery looks like a […]

ARTICLE
19 March, 2019

The customer experience for financial institutions, and customers’ perceptions of banks and credit unions, are changing. In a constantly evolving industry (and one that is evolving quicker than it ever has in the past), it’s important to take a step back and understand the current state of financial services. At a high level, customers want […]

ARTICLE
7 November, 2018

Financial Institutions need to communicate effectively to be competitive in today’s landscape. Particularly in terms of the dynamic between decreasing branch visits and a high importance on emotional connection as an important element of loyalty for financial institutions, omni-channel communication is more important than ever. Banks and credit unions must analyze their customer journey with […]

ARTICLE
9 October, 2018

When we hear about customer data, especially as financial institutions, we often think about customer security. What could happen to our customers’ data? How do we keep it safe, and out of the wrong hands? While security is paramount to financial institutions, executives should challenge themselves to think of customer data as an opportunity. Data […]

ARTICLE
13 September, 2018

Employers constantly focus on developing and improving their employees to drive their company forward. Employees often fall along a range of skills, from novice to innovator, and employers have to meet them where they are in order to identify what skills or behaviors they should aim for. Once those skills are identified, managers can begin […]

ARTICLE
8 August, 2018

Coaching employees can prove to be difficult. Managers and directors want their employees to actively pursue initiatives to increase profitability, sometimes in the form of improving customer experience, using sales tactics to increase revenue or offering the right products/services when the opportunity presents itself. However, taking company goals and pursuing them through lasting change in […]

ARTICLE
17 July, 2018

Customer feedback is a huge part of directing and improving customer experience. Feedback provides insight into pain points, areas for improvement and can be solicited at various customer touchpoints to better understand what is going through a customer’s mind at a given time. However, customer participation, or the active involvement of customers in your brand, […]

ARTICLE
7 December, 2017

The universal banker is a jack-of-all-trades representative who can solve a wide variety of problems for bank customers. From loans to digital services, the universal banker is highly trained to take customers through their entire interaction once they walk in the door, and this leads to the universal banker having a better understanding of the […]

ARTICLE
1 December, 2017

Customer experience research helps align brands and companies with the consumers they want to satisfy. However, the way consumers think about their purchases and the products/services they interact with is multi-faceted. For companies who conduct customer experience research, this is great news. Businesses that take the time and effort to learn about their customers stand […]

ARTICLE
8 September, 2017

CSP is happy to have guest-blogger, Andrew Huber of Harland Clarke return this month and share his insights on creating a customer experience strategy that is successful. “How are we doing?” This question is at the foundation of any organization’s quest for continuous improvement. For banks and credit unions, the answer encompasses more than an […]

ARTICLE
24 August, 2017

Managers and directors must be good coaches. The very nature of managing a staff team requires those in charge to make individuals within the team more skilled, smarter, and happier due to career satisfaction. Unfortunately, some managers fail to handle teaching moments with grace and sensitivity, and leave their employees feeling like a failed performer, […]

ARTICLE
2 August, 2017

CSP is happy to have guest-blogger, Andrew Huber, Program Manager at Harland Clarke, share his insights about customer experience (CX) and the need for financial institutions to deliver outstanding service at every touchpoint. You likely know that the key to any strong, long-lasting business is delivering an exceptional customer experience (CX). Unfortunately, when it comes […]

ARTICLE
18 July, 2017

Employee engagement is an important part of any business, but its importance extends beyond feel-good factors. Sometimes, the business world speaks about employee satisfaction as a non-essential element of business. There is an impression that employers should strive for good employee satisfaction, but if employees aren’t entirely happy, the bottom line still must be met […]

ARTICLE
12 July, 2017

When a financial institution evaluates itself to identify opportunities for improvement, key performance standards, also known as benchmarks, are essential. Benchmarks paint a clear picture of a bank’s performance. More importantly, benchmarking sets up a long-term framework the bank can use to consistently measure its performance against key performance standards over time. This feedback, gained directly […]

ARTICLE
27 June, 2017

What should a manager do when an employee’s performance falls short? Consider the following scenario: An employee isn’t reaching his personal performance requirements. Maybe his sales are low, his ability to open new accounts is subpar or he receives weaker customer satisfaction scores than his colleagues. During a performance review, the employee is informed of […]

ARTICLE
24 May, 2017

Passionate customers tell you what makes your brand exceptional Often, customer experience research focuses too heavily on business shortcomings.  Managers want to know when customers are dissatisfied, what caused their dissatisfaction, and how to fix the problem.  As a result, decision makers overlook positive customer feedback.  Managers expect positive feedback, and when it’s received, they […]

ARTICLE
26 April, 2017

While you’re hard at work trying to maintain lifelong customer relationships, it can be easy to overlook the relationships among your staff. It seems obvious that a friendly work environment leads to greater productivity, decreased stress, less turnover and increased satisfaction—and in fact, research shows that this assumption is true. Happier employees lead to a […]

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23 March, 2017

One way to segment your customers is by their lifetime value. Compared to many other measurable customer attributes, lifetime value is the kind of big-picture description that can be difficult to observe or estimate at a glance. But it’s also one of the most valuable pieces of information you can have about your customers. Customer […]

ARTICLE
9 March, 2017

Customer segmentation can be an immensely useful tool in getting actionable insights from your customer research. From those insights, you can devise strategies to improve the customer experience, because you have a more specific understanding of what customers want. But segmentation is far from simple. To get the most out of it, you need to […]

ARTICLE
8 February, 2017

Customer segmentation helps banks get to know their customers on a more granular level. Segmentation reveals specific intelligence that could otherwise be obscured by the sheer volume of data. These insights, in turn, inform messaging strategies for marketing and customer service strategies. Segmentation can also help banks better understand the customer lifecycle and predict customer […]

ARTICLE
30 November, 2016

Of the many communications channels that weave together to form an omnichannel customer experience strategy, email continues to be relevant and valuable. Email marketing isn’t just about marketing; it’s a way of maintaining your customer relationships in between more direct touchpoints, like transactions and customer service calls. Like social media, email reaches people where they […]

ARTICLE
2 November, 2016

Most consumer-facing businesses could stand to learn a few things about customer experience and employee engagement from Chick-fil-A. I recently connected with a friend and colleague of mine, T.J. Hammond, who works in learning and development at Chick-fil-A. I’ve enjoyed a knowledge-sharing relationship with T.J. for several years based on our shared beliefs in what […]

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17 October, 2016

One of the biggest banks in the U.S., Wells Fargo, made one of the biggest mistakes in recent banking industry history. By pressuring their sales staff to grow the number of customer accounts by nearly any means necessary, they wound up crossing some major ethical and legal lines and created a scandal that has hurt […]

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10 October, 2016

Think customer attrition deserves less of your attention than customer attraction? Think again. Much of any company’s focus is channeled into attracting new customers and procuring large and sustainable accounts. These are the fuel sources for successful growth. It makes sense to spend time and effort into maintaining these gateways and developing them as wide […]

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3 October, 2016

In a competitive business climate that increasingly revolves around customer experience (CX), there is much to be learned from companies who have made a name for themselves based on quality of customer service. Below is an overview of some of the most prominent industry leaders and what makes them excel. USAA: Maintaining trust through technology […]

ARTICLE
22 September, 2016

Banks and credit unions are subject to extensive federal regulations regarding how they interact with customers and handle customer data, especially as it relates to lines of credit. Examples of consumer lending regulations include: The Fair Credit Reporting Act (1970): Regulates the collection, dissemination, and use of customers’ private information as it pertains to their […]

ARTICLE
9 September, 2016

Customer self-service continues to rise in popularity as companies adapt to customers’ demand for convenience and independence. Customer service experts agree that self-service is one of the biggest developments for 2016. In 2015, Microsoft’s annual Global State of Multichannel Customer Service Report surveyed 4,000 consumers. When asked what they expected from customer service, 90% of […]

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31 August, 2016

As a business leader, you know the importance of keeping your finger on the pulse of customer loyalty. A critical part of customer relationship management, customer loyalty goes well beyond a customer making a purchase. Loyalty is steeped in the relationship between the company and purchaser. A loyal customer believes your organization offers the best […]

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16 August, 2016

Cross-departmental collaboration is a reflection of a healthy internal culture. When employees feel comfortable working together, communicate effectively, and understand each other’s roles and functions within the system, your customer feels the difference. What gets in the way of cross-departmental collaboration?  Obstacle 1 – Tunnel Vision When employees get too limited by the tunnel vision […]

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5 August, 2016

A version of this post was featured by influential Customer Experience speaker and teacher Shep Hyken as a guest blog in August 2016. See it here. Data inspires confidence because it serves as a rational, objective bottom line that provides order and structure to the customer experience. It appeals to the logical, pattern-oriented left brain, […]

ARTICLE
2 August, 2016

Customer service via social media has been a growing trend as more and more businesses realize the power of these platforms. But conducting yourself as a business on social media is far from self-explanatory. Here, we review eight tips for engaging with your customers on social media.  If you’re a business with a social media […]

ARTICLE
19 July, 2016

Customer loyalty is a hot topic, but what exactly is a loyal customer? The first thing that might come to mind is “a customer who keeps doing business with you.” That sounds reasonable; however, it’s also incomplete. It’s likely that some repeat customers come back only because they are under a binding contract, intimidated by […]

ARTICLE
15 June, 2016

Customers often base their opinion of a company on their service experience, so you want yours to be top-notch. Proper training helps employees achieve customer service goals, which in turn provides motivation to continue doing well and to keep improving. As you embark on coaching your employees to make your customer service experience even better, […]

ARTICLE
8 June, 2016

The blueprint of a brand comes to life with the accumulation of loyal customers, and it expands its reach by shaping those customers into advocates. This two-tier configuration is a launching pad. There are two parts to the first tier. First, the customer needs to believe the services have quality. One successful transaction can plant […]

ARTICLE
10 May, 2016

Retailers love store credit cards and purchase financing. When a store offers its customers credit, those customers are more likely to continue shopping there and making larger purchases. The store then collects additional profit on each sale in the form of interest, usage fees, and penalties. When retailers partner with banks to provide lines of […]

ARTICLE
4 May, 2016

Professional development is an ongoing responsibility shared by both employees and their employers. However, managers and human resources personnel are often tied up in handling the paperwork of employment – hiring, firing, benefits, and grievances – leaving little bandwidth to focus on developing employees’ resources, talents, and career journeys. Most businesses conduct some kind of […]

ARTICLE
27 April, 2016

It’s Tuesday. Lunchtime. You’re headed to your favorite local sandwich joint. You sit down, don’t even have to glance at the menu. You’re all ready to place your order when your waitress walks up and says, “Hi, I’d love to serve you, but we’re out of food right now. No drinks either. Please try again […]

ARTICLE
13 April, 2016

You wake up one morning and discover, to your surprise, that at some point overnight, your ears have turned bright blue. You ask your spouse to pinch you and make sure that you’re awake (you are), and your kids confirm that you’re not just seeing things. You know you’ve been a little stressed lately, and […]

ARTICLE
9 March, 2016

The ongoing cycle of customer experience success is comprised of four main influencers: Employees, Customers, Management, and Data. In this series, CSP examines the Employee segment of that cycle and the benefits of focusing on internal culture to drive success. One of the main advantages of measuring employee engagement is the ability to take something […]

ARTICLE
12 February, 2016

How are women involved in their family’s finances? How confident do they feel about their financial know-how? What tools and services do they want their banks to provide to help them manage their money? These are the kinds of questions financial institutions need to be examining to optimize the customer experience for their female customers. […]

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10 February, 2016

  Sometimes, bad customer experiences happen to good companies. In the worst cases, they happen to good customers whose loyalty you’ve already worked to earn and keep. It could be a customer service email that went into a black hole and was never returned. Long lines, long hold times, or shipping delays could test a […]

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3 February, 2016

Google introduced the idea of the Zero Moment of Truth back in 2011, and has invested a lot of effort into getting companies to buy into it. The idea is that the pre-purchase phase of the customer journey, in which a customer researches, comparison-shops, asks for recommendations, and reads reviews, is essentially a countdown to […]

ARTICLE
6 January, 2016

Change is the only constant. It’s also one of the most pressing management challenges out there, and one of the most ambiguous and headache-causing. Navigating the course of change is something CSP knows all too well. In our nearly 30 years in business, we’ve guided banks, credit unions, and other businesses through the process of […]

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18 December, 2015

According to the 2015 Temkin Experience Ratings, which rank the customer experience of 293 companies over 20 industries, credit unions have earned the highest ranking for financial services over the past four years. USAA topped the list just above credit unions (which were rated as a group, not individually), followed by a bevy of big-name […]

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14 November, 2015

While you’re immersed in next-year planning, we’d like to tap on your shoulder on behalf of your customers. Assuming you want those customers to stay with you to 2017 and beyond, now is the perfect time to zoom in on your customer experience management strategy. Here are some of the key areas to focus on, […]

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2 September, 2015

Think about the traits you most closely associate with an effective manager. They might include decisiveness, charisma, commitment, strategic thinking, and the ability to engage employees. These qualities all share a common root that is often invisible at first glance: self-awareness. Self-awareness refers to a person’s perception of him/herself and how accurately it reflects the […]

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26 August, 2015

Think back to the people in your life who have recognized your potential and used their talents to help you discover and shape your own. When a coach like this is present in the workplace, his or her influence can have a profound impact on the professional development of the entire team as well as […]

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18 August, 2015

We’ve written at length on this blog about important changes in the evolving banking industry, including the rising popularity of universal bankers, online customer support, FinTech firms (especially among Millennials), and an omnichannel approach to improving performance across all points of contact with customers. As the industry forges ahead, so must the banking customer experience. […]

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11 August, 2015

Benchmarking is the process companies use to identify and establish key performance standards, or benchmarks, and measure their performance against those standards over time. With a benchmark analysis, a company can compare its current scores in critical areas against its own past performance, as well as against its competitors. Done in-house from the ground up, […]

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30 July, 2015

Though born decades apart and into very different circumstances, Baby Boomer (born 1946-1964) and Millennial (born 1980-2000) customers show a surprising amount of overlap in their preferences and priorities for the customer experience at their banks. Baby Boomers are Aging Youthfully Baby Boomers came of age during the wild 1960s and 70s, and while they […]

ARTICLE
17 June, 2015

Millennials want businesses to meet them where they are, and that includes their financial institutions. So how does a bank go about satisfying this demanding demographic? In Part One of this series, we got into Millennials’ heads to see the world through their own lenses. Knowing what they value and prioritize can help you shape […]

ARTICLE
30 May, 2015

At many businesses, the only time a customer sees or hears from the CEO might be a statement issued to the press, a column in the quarterly newsletter, or in the worst cases, a public scandal for which the company leadership is held accountable. Otherwise, CEOs, at least from the customer’s perspective, are mythical creatures […]

ARTICLE
14 May, 2015

Employee engagement is a critical component to a satisfying customer experience. Employees who believe in what they’re doing and in the company they’re serving are likely to provide better service, and lead to better relationships with customers and higher satisfaction. Companies spend millions per year on surveys, programs, and initiatives to support employee engagement. In […]

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12 May, 2015

A satisfying customer experience is organizational, not just transactional. The most direct way to affect your customer experience is to start with your own staff. Everyone must be on board, especially managers and executives. It’s critical that the top decision-makers at your business believe in the customer experience and stay tuned in to the voice […]

ARTICLE
29 April, 2015

Capgemini has released the 2015 World Retail Banking Report and their Customer Experience Index, calculated from the results of a comprehensive Voice of the Customer survey of more than 16,000 respondents in 32 countries. The CEI has dropped only slightly from 72.9 in 2014 to 72.7 in 2015, indicating that customer satisfaction is stagnating as […]

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22 April, 2015

It seems like everybody and his brother has a blog these days, including businesses. Some industries are more suited to blogging than others, and financial services is one of those industries. Some banks are already on this bandwagon, but for those who still need some persuading, let us tell you about some of the benefits […]

ARTICLE
8 April, 2015

These days, many of the touch points between customers and businesses happen not in person, not on the phone, but in the cloud. Never have customers had so many choices, nor businesses so many options, for communication and service. Companies have had to step up their investment in digital customer service solutions to meet consumer […]

ARTICLE
1 April, 2015

You’re doing all the right things. You have a Voice of the Customer program in place. You’re capturing, measuring, and evaluating both customer sentiment and employee performance. Your customer-facing staff is vetted and well trained. A superior customer experience is a priority at all levels of your organization. But when the VOC results come in, […]

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25 March, 2015

Training and coaching sound like they could refer to the same thing: imparting information that someone else—in this case, your employees—can learn from. In fact, training and coaching each serve a distinct purpose to your organization and can’t be interchanged. Knowing the differences between the two, and how and when to deploy them, is the […]

ARTICLE
18 March, 2015

Common wisdom holds that you only get one chance at a first impression, the best opportunity to influence on a person’s overall opinion than anything that follows. Yes, it’s true that a first impression can only happen once. But first impressions are also happening all the time. Every interaction between a business and a customer […]

ARTICLE
6 March, 2015

Traditionally, Customer Experience Research falls into two main categories. In the first category, there are market research firms that take an academic or scientific approach to collecting data and presenting the findings. These providers emphasize the purity of their data and the rigor of their methods and processes for collecting that information. In the second […]

ARTICLE
25 February, 2015

Big Data is a big topic. In all the conversation about the potential for data to reveal key customer insights, broad statements and big promises are far more common than specific examples of the real-world answers a business might hope to gain. There’s a reason that the word “data” is plural. An individual datum reveals […]

ARTICLE
11 February, 2015

It’s a customer experience manager’s job to keep an eye on the big picture of satisfaction: the various programs in place, the ever-updating customer data and information, and the overall strategies to attract and retain customer loyalty. But when any given customer walks through your doors, calls up your customer service, or engages with you […]

ARTICLE
4 February, 2015

Instating a Voice of the Customer program to capture customer experience insights has many practical benefits: It takes something vague and subjective, like customer experience, and turns it into quantifiable metrics. It clearly identifies the key drivers of customer satisfaction that are unique to each business and each customer base. It shows trends, progress, and […]

ARTICLE
28 January, 2015

As we’ve stated in a previous post, there is no such thing as one-size-fits-all employee training. There are actually two layers of truth to that assertion. Not only should each business customize its training program to best meet the expectations and needs of its customers, each employee has distinct learning preferences. These preferences will affect […]

ARTICLE
21 January, 2015

  Customer Intelligence (CI) is a discipline within Customer Relationship Management (CRM) that relies on the collection of customer information to gain insights into behavior. Using Customer Intelligence methodologies, companies can assemble and examine data to uncover customers’ preferences, motivations, patterns, wants and needs, and ground their strategy in that information to deliver a better […]

ARTICLE
14 January, 2015

Innovations in mobile and digital platforms have influenced significant paradigm changes in how bank and credit union customers interact with their institutions in the virtual space. Now that wave of change is bleeding over into the physical world, with the invention and adoption of the universal banker. The future and function of the brick-and-mortar branch […]

ARTICLE
22 December, 2014

The frontlines of customer service and sales are where the most direct and personal customer experiences happen. It’s also an area where customers tend to be more vocal about their satisfaction, or lack thereof. A good experience can make someone’s day, and a bad one can ruin it – and humans are just predisposed to complain […]

ARTICLE
8 October, 2014

As the saying goes, you only get one chance to make a lasting first impression. The beginning of your business’s relationship with a customer is one of many moments of truth that will shape that customer’s continued engagement and loyalty. Onboarding may be near the top of the sales funnel from the enterprise’s point of […]

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27 August, 2014

“Omnichannel” is a buzzword that’s emerged in recent years to replace “multi-channel” as a way of describing how customers interact with a business. While multi-channel indicated that there are a number of distinct touchpoints, both physical and digital, that matter to a customer’s experience, omnichannel goes a step further to reflect that customers are using […]

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