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Customer Engagement in Financial Services in Europe and North America

  • August 2014
  • 116 pages
  • Frost & Sullivan
Report ID: 2307270

Summary

Table of Contents

The Current and Future Financial Services Vertical

The overall objective of this research service was to look at the current and future adoption of various customer contact strategies, enabling technologies, and services, specifically in the financial services vertical. In terms of financial services, significantly more current customer interactions are taking place through email in Europe than in North America, while more interactions are taking place through chat in North America than in Europe. About 48% of customer interactions are fully automated, which is expected to grow to 60% by 2016. Overall, the use of multiple capabilities with social media customer contact strategies in the financial services vertical is expected to increase by 2016, with the largest percentage point increases expected for full integration with other contact channels and personalized marketing.

Research Background and Objectives
This research study is part of a series of survey-based studies that look at the current and future adoption of various customer contact strategies, enabling technologies, and services. The survey data and insights allow contact center organizations to understand better the industry and technology trends and apply the findings in their businesses.
The following studies are part of this series:

-Customer Engagement in Financial Services in Europe and North America
-Customer Engagement in Retail and Consumer in Europe and North America
-Customer Engagement in Manufacturing in Europe and North America
-Customer Engagement in Communications in Europe and North America
-Customer Engagement in Government and Education in Europe and North America
-Customer Engagement in Healthcare in Europe and North America

Methodology
Using a Web-based survey methodology during February 2014, Frost & Sullivan surveyed contact center/customer care decision makers who were working in businesses located in Europe and North America and who were involved in evaluating, specifying, recommending, or approving the purchase of contact center products or services. The total sample for the financial services vertical and particularly for this report is .

Frost & Sullivan’s survey methodology uses online panels to source only qualified respondents. Respondents must meet requirements set by a screening process prior to full survey participation. Online panels consist of individuals who volunteer to participate in Web-based surveys and typically receive compensation directly from their panel membership for participating in qualified survey research. In general, survey respondents do not receive direct compensation from Frost & Sullivan for participating in research projects.

Reporting Notes: Due to rounding, percentages in charts and tables may not sum to.

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