Correspondent Blog

When it comes to bank performance, there are lots of metrics to manage. The two that we would submit are the most important, are risk-adjusted return on capital (RAROC) and customer relevancy. While we have spoken at length about managing loans, deposits and customers around RAROC, in this article we focus on measuring relevance. Producing…

We covered various frameworks to “wow” your customer HERE. We covered why “Time-on-Task” (or the companion Customer Effort Score) is the ultimate metric in banking HERE. In this article, the last in the series, we give you seven rules to improve your bank. While these rules were derived from improving time-on-task, they can enhance bank…

While “customer delight” is a worthy goal, few banks should focus on the concept. We covered various methodologies HERE. Instead of trying to “Wow” your customer, in this article, we present the “time-on-task metric” (and its companion, the Customer Effort Score (CES) framework) and detail not only why it matters but why it can change…

While we believe in “Wowing” your customers as a concept, we don’t believe in it as a strategic focus as a bank. The idea is too challenging to execute. However, we do believe that every banker should understand what “customer delight” (we will use interchangeably with “wowing”) quantitatively looks like so delight can be operationalized….

If your bank truly wants to be known for service, the very first step is to get your problem resolution process right. When it comes to problem resolution, the two metrics that matter the most are the number of interactions required to solve the problem and the time it takes to solve the problem. The…