Decoding the customer lifecycle: Optimal strategies and technological trends in banking for 2025
This report is breaks down the customer lifecycle into its various stages, from the initial customer acquisition and onboarding process right through to retention and advocacy.
In partnership with
ebankIT
ebankIT is an international company that develops a leading Omnichannel Digital Banking Platform with capabilities to enable Banks and Credit Unions to run lean, run smart and innovate fast, helping their customers to be one step ahead at a fraction of the cost, time and effort.
Banks have long realized that their success depends on delivering frictionless customer experiences. By leading in customer satisfaction, they can benefit from the ‘stacked wins’ of higher returns, faster growth, and lower costs. At the same time, satisfied customers are more loyal, spend more, and are more likely to recommend their bank to friends.
However, becoming customer-centric in today’s digital landscape is no straightforward task. By definition, customer centricity demands that the customer be at the heart of a bank’s decisions: Every product, service, and experience should be curated to improve satisfaction, loyalty, and advocacy. However, according to McKinsey, companies often fail because they are insufficiently aware of their customers’ real needs and preferences across journeys.
It’s vital, then, that banks improve their understanding of the full customer lifecycle. This report is designed to help. In the following pages, we break down the customer lifecycle into its various stages, from the initial customer acquisition and onboarding process right through to retention and advocacy.
To showcase how best practices and technology can enhance the banking experience across all these stages, we’ve also included insights from our survey of financial institutions across the globe. We’ve then added depth to this survey with interviews with established banking executives. We asked them about their progress in improving the customer experience, the roadblocks they have faced along the way, and where they see the most significant potential in the future. We hope you find it a useful resource.
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