Rasool Hujair, CEO of Majid Al Futtaim Finance, the financial arm of Majid Al Futtaim, speaks about Addressing Customer Engagement in Financial Service Industry highlighting the importance of knowing your customers by optimizing data with the help of AI.
With the use of data and predictive analytics, businesses can transform customer experience leading to better engagement and loyalty. As with Majid Al Futtaim Finance, this helped them grow their NPS from negative to about 45% which is a great achievement for an organization in the Financial Industry.
In summary:
1. To improve customer attitudes about banks/banking, financial institutions need to prioritize their customer’s experience above their bottom line.
2. A customer lifecycle must start and end with the customer.
3. Using data and technology to speak to customers one to one – where, how and when they prefer, keeps the more engaged
4. Engaged customers are more loyal and profitable in the long run.
5. Customer experience drive loyalty.