CISCO: Consumers want more seamless and personalised banking experience

Offering insight into banking consumer preferences

Cisco has announced the results of the Cisco Customer Experience Report focused on retail banking.  The global report examined consumers’ desire for a banking experience that is more personalised to help simplify the management of their finances over multiple channels, including online, mobile phones, telephones, video conferencing and bank branches. 

It also examined views about the privacy of their personal information and the value of financial management tools used in their daily lives. Consumers globally identified the most important attributes when interacting with their financial institution or financial advisor as: availability (63%), competence (65%), and efficiency (68%).

Consumers indicated a willingness to exchange more details about their financial habits and having banks be more active advisors in exchange for greater protection from identity theft (83%), increased savings (80% globally), personalized service (78%), and greater simplicity (56%) in managing their finances.  Only 54% of global consumers expressed a desire for automated systems to provide financial advice or recommendations, while 59% indicated that they would be comfortable with location-sensitive recommendations delivered to a mobile device.

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