A differentiated customer experience is the result of an enterprise-wide effort, involving even seemingly unrelated tasks and processes. As John Kocjan, principal, Deloitte Consulting LLP, explained, “Improving customer interactions is an effort for the entire organization. Banks should consider how all of their operations and priorities, even those like cost efficiency and data security, support a great customer experience.”
Attempts to re-price existing services will likely continue, but to gain more customer acceptance, banks may strive for greater transparency and put the customer in control of when and for what they pay. To serve institutional clients with international operations, large banks will continue to expand their geographic reach and technology connectivity for transaction banking products. Small or regional banks that do not have a global presence can develop targeted service offerings, such as treasury and cash management for multicurrency accounts and upgraded corporate payment systems, or also consider partnering with non-U.S. institutions