Financial Services
Major financial institutions are already using exchange solutions to improve the customer’s buying experience while also increasing the profitability of inbound and outbound customer interactions. The exchange solution gets the customer directly involved in finding win-win value exchange agreements at each point of bank-customer interaction.
The customer can acesss the exchange solution at the time of a branch, web or call center agent interaction. By employing the time-tested principles of collaborative bilateral trading, the exchange solution allows the parties to identify creative ways to make each other better off.
For example, the customer can offer to give the bank items of little or no value/cost to them but that have very significant value to the bank such as:
- Switching accounts to the bank
- Consolidating balances with the bank
- Using lower cost online/self servicing
In return, the customer can ask the bank to provide items that have significant value to the customer such as:
- Providing free expert advice on the selection of the best products and services
- Obtaining notification of favorable rate changes
- Obtaining preferred rates, pricing and access to services
Case examples of retail bank implementations show the significant benefits an ESI exchange solution can generate for bank customers, employees and shareholders.
