A visual representation detailing a banking client’s interactions with a financial institution across various touchpoints. This illustrative tool typically outlines the stages a customer progresses through, from initial awareness of a bank’s services to becoming a loyal advocate. For example, a depiction might include the steps a prospective client undertakes when researching different mortgage options, applying for a loan online, interacting with a customer service representative, and ultimately managing the mortgage payments.
This method offers significant advantages for financial institutions. It provides a holistic view of the customer experience, allowing banks to identify pain points, optimize processes, and improve customer satisfaction. Historically, financial institutions relied on anecdotal evidence and segmented data to understand customer interactions. The creation and application of this methodology promotes data-driven decision-making and facilitates a more customer-centric approach.
