Affluent and Wealthy consumers prefer customer service via remote channels rather than face to face. This is as true for GenY as it is across all generations. That is, interactions across virtual channels, and specifically social media, has become ubiquitous. This, according to an infographic entitled: Your wealthiest customers want service on Social Media researched by McKinsey & Co..
Is there a limit on how much value Banks are willing to give away for free? To return to normalcy, Banks must establish reasonable operating models that meet customer needs while generating respectable returns.
A good Strategy will encourage Innovation, yet most Banks lack the necessary ingredients for success – customer focus, value creation, and risk-taking