In an effort to address customer satisfaction levels, the Royal Bank of Scotland is to invest GBP700bn in its retail operations between 2013 and 2016.
According to the bank, the money will be spent on simplifying the mortgage processing procedure, branch refurbishments and faster account opening. Moreover, the nationalised bank intends to re-evaluate its customer complaints system whilst consolidating customer data with analytics. This is in order to provide RBS with a better view of individual customers across its product range.
In addition, the bank will continue to invest in digital technology and business, describing its online and mobile outlets as “key distribution channels”. RBS has seen online sales rise by 25% in the past year with numbers of active online banking customers rising to 5.2 million in an 11% increase. Mobile channel growth has been equally positive, with the number of active users increasing twofold from one million to two million by the end of 2012.
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