Mercator Advisory Group’s Customer-Centric Delivery Channels (CCDC) focuses on the interactions between banks and their customers. The service explores how innovative delivery channel strategies, bank marketing, operational processes and touch point technologies have the ability to improve the customer experience and increase bank revenue while reducing costs. Concentration is placed on channels where transaction volumes are increasing, including Mobile, Internet and Contact Center, while monitoring changes in the more mature channels of full-service and in-store Branches and ATMs that must confront declining transaction volumes.
Our research explores multi-channel integration issues facing retail banks searching for ways to coordinate the customer experience across a diverse range of mature and fast changing delivery channel technologies and product specific channel applications. In addition, research focuses on the effective leveraging and use of bank delivery channels to acquire and service specific products, including core and rate sensitive deposits, payments, wealth management services, consumer credit and residential real estate lending.
Banks must overlay their technology strategies with the diverse and rapidly changing needs of their retail banking customers. We examine the intersection of economic, societal and generational changes and how those changes affect – the consumption of financial services products and the need for increasingly sophisticated and omnipresent technology to create value for bank customers. We document newly emerging customer segments driving the development of innovative products, as well as the demand for Internet and mobile delivery channels.
Our strategic view is grounded in an in depth understanding and continuous analysis of bank customer product needs, selection drivers and retention challenges. We contextualize consumers and their technology choices within the banking industry’s imperative to regain consumer trust and deliver superior returns to shareholders while complying with an ever changing array of regulatory requirements.
Principal Focus Areas
Understanding the Retail Banking Customer •Issuer and Acquirer Market Consolidation
•Under-banked and Unbanked Strategies
•Loyalty programs and marketing
Internet
•Social Networking
•P2P Services
•eMail Trends and Solutions
•EBPP
•Video and Interactive Sessions (Chat)
•Personal Financial Management (PFM) Cross Channel
Mobile
•Text Messaging
•Mobile Banking
•Mobile Authentication
•Mobile Product Strategies
Contact Centers – Outsourcing, Best Practices, Strategic Use
Branch, ATM & Kiosk – Evolution of Attended and Unattended Channel
Multiple Channels – Channel Integration. Loyalty, Integration
Economy and Market Trends
International Case Study
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