CONSULTING ADVICE-

CIBC CUSTOMER SERVICE STRATEGY

Fayoke Ogundahunsi- Team LeadHarkanwal kaurAnna spiridonenkovaIrina kovalevaJyoti khambra

CIBC- Biggest issues

1. Online service and website management (update)

2. Resolving complaints

3. Utilizing social media to form relationships with customers.

ADVICE 1- CENTRALIZED INFORMATION SYSTEM ACROSS ALL BRANCHES

WHY?Customer information is not integrated across all branches

Little information available to front line employees- Transactional

Customers have to verify

Original branch might be too far off

STATISTICSCIBC ranked

2nd in the mobile banking arena with a service level index of 80%.5th in terms of Online service with a service index level of 60%

14th in terms of overall service with a Service Level Index of 45% (overall financial industry)

Surviscor.com 2014

SOLUTION

CIBC only uses 2 systems to gather and store customer information and they’re both internal system – CIBC Relationship Manager

“Different levels of accessibility to customer information within CIBC which provides the security and protection needed today by customers”- CIBC Relationship Manager

A centralized information systems for information to be accessible to other branches with security in place to protect customer information from unauthorized access is our SOLUTION.

BENEFITS

Flexibility attracts more customers and keep customers happy! (Every branch feels like home branch)

Hassle free & quick banking!

ADVICE 2- USING TOUCH POINTS- PETS TO BOND

WHY!

People love their pets!

Relevant touch point (See statistics!)

STATISTICS

Overall Canada is home to roughly 5.9 million dogs and 7.9 million cats.

9% of Canadians owned other types of pets, including fish, birds, small mammals and herptiles” Government of Alberta (2015)

The Rising Costs of Health Care—for Cats and Dogs - Bloomberg Business

Customers could use the help

SOLUTION

• Forms a bond with the customer

• Pet friendly branches can encourage people to come in more often

• Loyalty cards like the SCENE Scotia bank, Petro Canada card can be introduced for pets where points can be redeemed towards grooming pets

BENEFITS

• Expensive to groom and keep pets, additional help for the customers!

• Pet happy = Customer happy

• Interesting point of conversation for front line employees

ADVICE 3- Interactive online customer service

Situatio

n

Cashless payments and money transfers delays

Poor quality service of the online banking

Poor interaction with clients (suggestion and complaint response)

Solution

Benefits

Customers are given the needed and full attention required to solve any specific problem

Reduce the response time from the currently 2-3 business days reply to real time response

Ultimately improves customer satisfaction

ADVICE 4- Creating A Friendly And Appealing Internal Environment For Customers

Situ

atio

nInternal atmosphere not appealing

Absence of the Wi-Fi in branches

Old fashioned design in branches

Solu

tionProvision of Wi-Fi

Provision with customer friendly atmosphere

Self-assistance services- providing clients with high tech devices to resolve simple tasks and requests.

Bene

fitsAllow customers to

feel comfortable while waiting to be responded to

A friendly climate can facilitate an emotional bond to the bank

Provision of Wi-Fi can facilitate self-service – can reduce wait time

How can we help?1. Loyalty Card (E.g. Air miles, Petro Points, SCENE card)

2. Predictive Analytics tools

Concerned with the prediction of future probabilities and trends. Transactional, behavioral and even social media activities can be referred to.

3. 360 view of the customers

Aggregating data from the various touch points that a customer may use to contact a company to purchase products and receive service and support

Using social media listening (Google Alerts) and predictive Analytics to determine what customers may research or purchase next

What do you think and how does this relate?