Within the past ﬁve years, customer experience has been recognized as a core contributor to business success, driving the emergence of related programs, processes and the hire of dedicated customer experience experts in more and more corporations.
Bruce Temkin, co-Founder of the Customer Experience Professionals Association, (CXPA.org), managing partner of the Temkin Group (and former longtime Forrester Research analyst) has done extensive “CX” research. Temkin’s research reveals that while there’s a strong correlation between customer experience and client retention across all industries, bank customer experience is “most correlated with loyalty.”
In the $13 billion market for retail banking in the United States, banks are increasingly proactive in pursuing new offerings, programs and processes that can deliver an improved customer experience. Among the circa 7,000 U.S. banks, one bank has given special attention to customer experience and service: Regions Bank.