Retail banks are failing to improve communications with
customers because legacy systems are holding them back, according
to research fromColeman
Parkes.
The Xerox sponsored survey of 1,004 customers of 151 retail
banks across Europe found that they are demanding more personalised
communications and legacy systems do not allow this.
Over a third of all European consumers agreed that banks are too
impersonal when communicating with customers and that they need to
be more informal.
Mark Eldred, general manager of sales operations at Xerox Global
Services, said banks also want a one to one marketing approach, but
poor unstructured data, old document processes and lack of
integration make it difficult.
According to the findings, 89% of banks recognised a need to
personalise customer communications while 90% of the UK banks
surveyed said more targeted messages will increase revenues.
Ian Parkes, director at Coleman Parkes, said banks cannot afford
to be complacent. "Poor customer service (45%) and a major error by
the bank (51%) are two of the top three issues that will drive a
consumer to change banks, so banks need to focus on a high level of
customer service and quality of information management," he
said.
