Barlow Research & Boston Consulting Group are examining the evolution of business banking relationships as digital/remote servicing strategies grow increasingly important.
“Businesses with and without an assigned Account Officer are leaning harder into self-service models. At the same time 72% say that the personal connection they have with their Account Officer is one of the primary reasons they stay with their bank. Preferences for certain online and mobile banking transactions are on the rise,” reports Joel Mueller, Managing Partner and Research Director at Barlow Research.
For this new study “Business Banking Relationship Management in a Digital World”, Barlow Research will survey 1,500 businesses to learn:
- how expectations and dynamics of remote/digital servicing models are evolving
- which new delivery channels and products are likely to be sustained going forward
- the impact new servicing strategies may have on customer perceptions and loyalty
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“Clients value a consultative banking relationship for solving complex financial challenges which should be complemented by digital capabilities across channels and touchpoints to fully support the relationship,” says Ryan Curley, Managing Director and Partner at Boston Consulting Group.
There’s no doubt that digital trends in business banking are accelerating and becoming an industry imperative. To remain competitive, banks need to rethink coverage and operating models, and seek new sources of growth.
Barlow Research and Boston Consulting Group will provide deep voice of the customer insights through this collaborative research effort to support banks and solutions providers as they work to design, create and deliver optimal servicing models to meet customer needs, earn new business, and drive loyalty.
