by. Jeff Falk
With the regulatory environment under constant flux and change, and of course security concerns bubbling at the surface of every consumer survey on mobile banking, it’s understandable that many financial institutions (FIs) have become weary of developing new banking products and services.
If your FI is wrestling with this in 2013, here are a few steps you can take to increase success with your new product or service implementation:
Step 1: Listen to the “voice of the customer”
Combine insight from voice-of-the-customer (VOC) programs (in-depth interviews, surveys and focus groups) with information your FI already has on customers. This is a great way to gather intelligence about how your customers make decisions.
These insights can help FIs answer questions like:
- What do customers like about our products?
- What makes customers buy from one channel and not another?
- How do we match the right price with right customer?