The three catch words that I see bankers, analysts, banking solution vendors and name the chappie across the globe; commonly use in the industry are (1) Customer experience (2) Regulation and compliance (3) Risk management. The CxOs in each of these areas pounce on any dollar budget released from the board room. There is an opportunity for innovation if and only if the dollar is cleverly picked up by the Chief Customer Experience Officer.  She has seemingly endless possibilities on how to invest in innovation.

As I sit on my dining table that has a touch screen tablet, a mere touch of the bank app on my screen with the thought of how my investment portfolio is performing, the portfolio performance dashboard shows up. I see the value of gold commodity sliding. I take a stop loss decision. The advisor appears advising me against the disinvestment and displays the dashboard with market and technical analysis convincing me that it is wise to hold on than sell.  I am not fully convinced; I tag the commodity for alerts. The market in Singapore is about to close as I get into my car in Toronto. I check on gold again on my car dashboard (moved the app from the tablet). I see a gold moving up. Mid-day beep from my mobile gives me an update. My investment is huge. I touch-move the bank app contact less from my mobile phone onto my tablet at work place; as I leave work the bank app goes back onto my phone.  I need to transfer money to my friend’s account. I activate the bank app and I see a 3D virtual image of my bank.  I touch the funds transfer icon, key in the account number drag drop the 500 dollar bill icon into the account. The transfer is done. My teenager son picks up the tablet at home on touching the screen his custom screen is displayed. He has his own bank app and the virtual bank looks cool and the teller pretty. He prefers to transact over the counter. We both bank with the same bank.  The differentiated customer experience gives his bank the cool look and to me a solid no nonsense classic bank. The mind image analytics is converted to appropriate customer service with my wealth portfolio showing up and a pretty teller to my son.  Did you notice that the device is bio metric sensitive. When my son uses the tablet he gets his own space and I my own.  My dad is not tech savvy. He likes to walk into a branch talk to ‘live’ folks and transact with real people. His experience still exists.

This is one perspective of true customer experience. There are many more though. I will write on each one of them as we see it today.