Mapping the customer journey

An exceptional customer experience can be found in customer journey mapping.

The bank-customer relationship through the ages has been mission-critical, and approaching each customer individually is part of that mandate. But knowing the customer can mean a number of things.

  • From a compliance perspective, knowing the customer includes meeting the expanding regulatory requirements of the recently finalized Financial Crimes Enforcement Network (FinCEN) customer due diligence rules.
  • For the bank marketer, on the other hand, knowing the customer goes beyond determining their identity. It means understanding the customer’s experience and nurturing the customer relationship—which is (and always has been) at the heart of successful banking.

One important tool to help understand the customer and ensure a positive customer experience (CX) is customer journey mapping. According to Gartner in its recent Market Guide for Customer Journey Analytics, “Understanding the customer journey is critical to enhancing customer experiences and operational efficiency.”

 

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