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Customer Experience Management Study—Malaysian Banking Sector 2021

Customer Experience Management Study—Malaysian Banking Sector 2021

Benchmarking Industry Excellence in Delivering a Superior Customer Experience

RELEASE DATE
07-May-2021
REGION
Asia Pacific
Research Code: PBC7-01-00-00-00
SKU: IT04320-AP-CR_25423
$4,950.00
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SKU
IT04320-AP-CR_25423
$4,950.00
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Description

Customer experience is the accumulation of a customer's experiences throughout his/her journey with a supplier across any and all functions, products, services, and 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 Malaysia. The country continues to capitalize on the growing number of retail bank users in Southeast Asia as many individuals rely on banking services and products for both personal and business uses.

Frost & Sullivan’s Customer Experience Management study in the banking sector explores customer experience among banking providers in Malaysia. The study focuses on the critical factors that influence customer behavior throughout the three stages of their retail decision-making journey: pre-purchase, purchase, and post-purchase. For each stage, the study evaluates the key parameters that contribute to customers’ decision to purchase from and transact with a retail bank as well as their preferred channels or touchpoints.

Author: Edurra Talib

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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Table of Contents

Frost & Sullivan’s Research Approach

Frost & Sullivan’s Research Approach—Step-by-step Overview

Overview of Research Process

Sampling Methodology

Data Collection Quality Process

Sample Distribution—Primary Banks

Sample Demographics—Respondents’ Age and Gender

Sample Demographics—Main Products/Services Purchased

Frost & Sullivan’s Customer Experience Index (CEI)

Customer Experience Management in the Malaysian Banking Sector in 2021—Overview

Customer Experience—Definition

Factors in Choosing Primary Bank

Factors in Discontinuing Service with Primary Bank

Preferred Channel in Consumer Decision-Making in the Banking Sector

Degree of Channel Integration

Products/Services Recommendations by Primary Bank

Overall CEI Score by Channel/Touchpoint

CEI Score by Primary Bank—Overall Experience

Net Promoter Score

Customer Loyalty Rewards

Service Discontinuation

Service Discontinuation Rate among Primary Banks

Most Used Channels for Banking Products/Services

Preferred Channels for Banking Products/Services

Customer Priority Experience Matrix

Customer Frequency Experience Matrix

Degree of Channel Integration

Prioritizing Superior Customer Experience and Living up to Sales Promises

Customer Loyalty Rewards

Proactive Behavior of Banks

Customer Experience by Channel/Touchpoint

Factors for Choosing Primary Retail Bank

Products/Services 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 Stage

Customer Experience Evaluation in the Pre-purchase Stage by Channel

Channels Used in the Purchase Stage

Preferred Channels in the Purchase Stage

Customer Experience with Touchpoints in the Purchase Stage

Degree of Satisfaction—Online Platform

Degree of Satisfaction—Branch

Degree of Satisfaction—Mobile Application and Call Center

Degree of Satisfaction—Sales Agent and ATM

Degree 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 Stage

Customer Experience Evaluation in the Post-purchase Stage by Channel

Customer Loyalty and Recommendation

CEI Score for Overall Experience

Overall CEI Score by Primary Bank

CEI Score for Branch

CEI Score for Self-service Channels

CEI Score for Contact Center

CEI Score for Online Channels

CEI Score for Mobile Application

Net Promoter Score

Why Frost & Sullivan

Customer Experience—Definition

Integrating Process, People, and Infrastructure

Frost & Sullivan’s Customer Experience Maturity Model

A 5-step Strategic Approach

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

Customer experience is the accumulation of a customer's experiences throughout his/her journey with a supplier across any and all functions, products, services, and 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 Malaysia. The country continues to capitalize on the growing number of retail bank users in Southeast Asia as many individuals rely on banking services and products for both personal and business uses. Frost & Sullivans Customer Experience Management study in the banking sector explores customer experience among banking providers in Malaysia. The study focuses on the critical factors that influence customer behavior throughout the three stages of their retail decision-making journey: pre-purchase, purchase, and post-purchase. For each stage, the study evaluates the key parameters that contribute to customers decision to purchase from and transact with a retail bank as well as their preferred channels or touchpoints. Author: Edurra Talib
More Information
No Index No
Podcast No
Author Edurra Talib
Industries Information Technology
WIP Number PBC7-01-00-00-00
Is Prebook No
GPS Codes 9533-C1,9702-C1,9705-C1,9884-C1,9661