Philippines Retail Banking Customer Experience Management 2021 Report: Focus on the Three Stages of the Retail Banking Decision Journey

DUBLIN, January 20, 2022 /PRNewswire/ — The “2021 Study on Customer Experience Management in Retail Banking in the Philippines” report has been added to from ResearchAndMarkets.com offer.

The research focuses on the critical factors that influence customer behavior throughout all three stages of their retail decision journey: pre-purchase, purchase, and post-purchase.

At each stage, the study assesses the key parameters that contribute to customers’ decision to buy from and transact with a retail bank and their preferred channels or touchpoints.

This study adopts the proprietary Customer Experience Index methodology and the widely used Net Promoter Score metric to understand the dynamics between customers and retail banks in The Philippines.

A study on customer experience management in retail banking explores customer experience among banking providers in The Philippines, primarily Philippine National Bank (PNB), BDO Unibank, Bank of the Philippine Islands (BPI), Metrobank, Union Bank and Landbank.

Customer experience is the accumulation of a customer’s experiences throughout their journey with a supplier across functions, products, services and touchpoints. The Philippines continues to capitalize on the growing number of retail banking users South East Asia because many people depend on banking services and products for personal and business purposes.

Main topics covered:

1. Research methodology

  • Research approach
  • Research Approach – Step by Step Overview
  • Overview of the research process
  • Sampling methodology
  • Data collection quality process
  • Distribution of the sample – Main retail banks
  • Sample Demographics – Age and Gender of Respondents
  • Demographics Example – Top Products/Services Purchased
  • Customer Experience Index

2. Executive Summary

  • Customer experience management in The Philippines Retail banking sector in 2021 – Overview
  • Customer Experience – Definition
  • Factors for choosing a primary retail bank
  • Service Stopping Factors with Primary Bank
  • Preferred channel in consumer decision-making in retail banking
  • Degree of channel integration
  • Product/service recommendations by primary bank
  • Overall CEI score by channel/touchpoint
  • CEI score by main bank – Overall experience
  • Net Promoter Score
  • Customer Loyalty Rewards

3. CEM Study – Retail Banking Sector in the Philippines 2021

  • Discontinuation of service
  • Service Disruption Rate Among Primary Banks
  • Most used channels for banking products/services
  • Preferred channels for banking products/services
  • Priority Customer Experience Matrix
  • Customer Frequency Experience Matrix
  • Degree of channel integration
  • Prioritize a superior customer experience and deliver on sales promises
  • Customer Loyalty Rewards
  • Proactive behavior of banks
  • Customer experience by channel/touchpoint

4. Understand behavior across the lifecycle – Before purchase, purchase, after purchase

  • Primary Retail Ban Choice Factors
  • Product/service recommendations by primary bank
  • Channels used in the pre-purchase stage
  • Channels used for pre-purchase inquiries
  • Customer experience with touchpoints in the pre-purchase phase
  • Evaluation of customer experience in the pre-purchase phase by channel
  • Channels used at the purchase stage
  • Preferred channels at purchase stage
  • Customer experience with purchase touchpoints
  • Level of satisfaction – Online platform
  • Degree of satisfaction – Branch
  • Level of satisfaction – Mobile application and call center
  • Level of satisfaction – Commercial agent and ATM
  • Level of satisfaction – Real-time messaging and Chatbot
  • Channels used in the post-purchase stage
  • Revisited channels for post-purchase inquiries
  • Channels used for post-purchase inquiries
  • Customer experience with touchpoints in the post-purchase phase
  • Evaluation of customer experience in the post-purchase stage by channel

5. IEC Analysis

  • Customer satisfaction, loyalty and recommendation
  • Overall CEI score by channel/touchpoint
  • CEI score by main bank – Overall experience
  • CEI score for the branch
  • CEI score for the online platform
  • Contact Center CEI Score
  • IEC Score for Mobile App
  • CEI score for self-service channels
  • Net Promoter Score

6. Customer Experience Solutions

  • Customer Experience – Definition
  • Integration of processes, people and infrastructure
  • Customer Experience Maturity Model
  • A strategic approach in 5 steps
  • List of exhibitions
  • Legal disclaimer

Companies cited

  • National Bank of the Philippines (PNB)
  • BDO Unibank
  • Bank of the Philippine Islands (BPI)
  • Metrobank
  • Union Bank
  • Landbank

For more information on this report, visit https://www.researchandmarkets.com/r/m9osio

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