How banks can make customers happy

Tuesday, May 23, 2017

post3A recent study by Accenture shows that banking customers are slowly becoming a fickle bunch, as their research shows that 58 percent of customers have had more than two financial services providers in the last three years, which is a precursor to switching banks. This is a distinct shift and a warning shot for banks to start investing more in customer retention, or CRM.

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The Future of Smart Homes

Tuesday, May 16, 2017

post2Perhaps you’ve noticed the term the Internet of Things (IoT) being bandied about recently. This term, describing an increasingly interconnected world was first brought to light a few years ago with the fanciful futuristic notion of a completely connected home (you know, your alarm clock tells the coffee pot and water heater to crank up for your morning dash, and your car tells them both to shut down, and so on). With the popular acceptance of Siri,

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post1A: You catch them holding hands. Seriously, employee engagement has become a very serious business success metric lately. Not coincidentally, it may be because of recent studies that show only a small percentage of US employees are engaged. There are three simple questions that can tell you which ones are.

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shutterstock_126095285A recent study of customer experience (CX) that queried 20,000 consumers relating to 10,000 brands found that 45% of consumers preferred a personalized experience in support interactions over personalized experiences in the marketing or purchase process.

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shutterstock_245965318 crop1During the Cold War, ABM often meant Anti-Ballistic Missiles, but in today’s fast-paced, no-edge-too-tiny world of commerce, it stands for Account Based Marketing. Also described as Key Account Marketing, it’s a strategy where a company focuses on growing existing business with an equal or higher priority than hustling new business.

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shutterstock_386999542Right along with mammals and mankind, business is constantly changing …and at what seems to be an ever-increasing pace. According to a noted business advisor, complacent business leaders risk extinction by sticking with outdated assumptions of technology-enabled practices, human behavior and the very meaning of success.

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Age of Convergence for Banking

Monday, March 20, 2017

Asian bankerIt’s the age of “convergence” for financial services and retail banking. The means the blurring of lines between traditional financial products and the acceleration of technologies that include mobile banking, distributed ledgers, and cognitive computing.

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Critical ThinkingThe great education debate continues. Should the teaching of 21st-century skills replace the teaching of content? Because so much new knowledge is being created, should students focus on how to know instead of knowing?

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Artificial IntelligenceIt’s estimated that 85% of businesses will start using artificial intelligence (AI) solutions for their customer relationship management (CRM) programs by 2020. It’s inevitable that
with further advancements, AI will move from a novelty tool or IT commodity to a must-have feature of every business.
Artificial intelligence is the development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.

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constructionConstruction is one of the oldest industries where brand and experience rule. The industry is highly sensitive to the whims of the economy and historically has not integrated customer relationship management (CRM) into its traditional practices. But that is changing.

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