Unsolicited calls from credit card companies have become more of an annoyance that sometimes even infuriates customers, especially in India, as telecom regulations barely protect the consumers. It is exacerbated by unsolicited calls to customers for whom the same bank had rejected, a week back, the application for a credit card. As the customer furiously confronts the call-rep, the call-rep unabashedly says, “Sir, I am not calling from HDFC. I am from a different company. I am only selling HDFC cards.”
Am I missing something?!!!
Banks, in order to market their products, have adapted their business models to collaborate with third-party vendors/companies. The bank’s IT infrastructure does not support a platform that is easy to integrate among internal systems, let alone the external systems.
There are two levels of bottlenecks: internal and external.
Internally, the systems operate in silos which are a perfect recipe for a 0` customer view. Let alone the third-party vendor, even the bank’s internal systems will not be able to provide a 360` degree view of the customer.
Externally, if the IT infrastructure does not support a system to provide a 360` view of the customer, the business model fails. Easy and effective integration with third-party systems should be a precedent to collaboration with third-party vendors.
Banks like ICICI and HDFC have come a long way in evolving their IT infrastructure that is inclined towards a modular approach. However, it is not uncommon for customers to experience inconsistent service across different channels. The reason is that these systems are not optimized enough to provide a consistent service to the customers.
Banks, with a 360` view of the customer, not only have a great potential to grow but also have an opportunity to reduce cost by avoiding unnecessary processing of loans, cards etc.
Business Intelligence that is based on SOA and a well-integrated system is the only hope for banks to improve customer service with higher cross-sell rates.
Am I missing something?!!!
Banks, in order to market their products, have adapted their business models to collaborate with third-party vendors/companies. The bank’s IT infrastructure does not support a platform that is easy to integrate among internal systems, let alone the external systems.
There are two levels of bottlenecks: internal and external.
Internally, the systems operate in silos which are a perfect recipe for a 0` customer view. Let alone the third-party vendor, even the bank’s internal systems will not be able to provide a 360` degree view of the customer.
Externally, if the IT infrastructure does not support a system to provide a 360` view of the customer, the business model fails. Easy and effective integration with third-party systems should be a precedent to collaboration with third-party vendors.
Banks like ICICI and HDFC have come a long way in evolving their IT infrastructure that is inclined towards a modular approach. However, it is not uncommon for customers to experience inconsistent service across different channels. The reason is that these systems are not optimized enough to provide a consistent service to the customers.
Banks, with a 360` view of the customer, not only have a great potential to grow but also have an opportunity to reduce cost by avoiding unnecessary processing of loans, cards etc.
Business Intelligence that is based on SOA and a well-integrated system is the only hope for banks to improve customer service with higher cross-sell rates.
1 comment:
2 things I have experimented at telemarketing callers which have proved to be quite effective. (1) I cannot do this any more as my daughter has grown up. But when she was until three years old, I would simply give the phone to her saying "Honey, here is someone who wants to know all you learned today" and she would sing/talk non-stop until the caller gives up. (2) I will sell something back rather than listening. This does not have to be any service or product. If there is an election near term, I would just randomly make a pitch for a candidate and insist the caller have an active debate with me on the issues.
My goal is that, in their databases, strong (even with profanity) comments not to call me again should be written.
Any other tricks ?
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