Six months after bringing its NPS Prism for Banking suite to Asia, global management consulting powerhouse Bain & Company has now rolled out its banking specific offering in the Indian market.
Bain & Company’s offices in India join a long – and growing – list of country teams that offer the ‘NPS Prism for Banking’ to clients from across the banking spectrum. In Asia, the tool has already gone live in Malaysia, Singapore, Indonesia and Hong Kong, among others, with plans for further expansion.
“The launch in India is in response to demand from major players in the market to become more customer-centric in light of demand for deeper insights into customer experiences, as well as the rise of digital banking, which is transforming customer experience in the banking sector,” explained Saurabh Trehan, a Mumbai-based Bain & Company partner.
Completing Bain’s strategic consulting work for banks in the domain of customer experience, NPS Prism helps clients gain in-depth insight in the ‘voice of the customer’. Leveraging these insights, banks can keep track of how they score on customer experience, and how to improve their competitive position.
“NPS Prism for Banking allows banking providers to answer critical questions including: How does my customer experience compare to that of competitors at the brand, product, and episode levels? Which customer episodes have the greatest impact on customer loyalty? In which channels are competitors delivering a better experience?” said Trehan.
According to recent research by Bain & Company, the role of customer experience in banking is rising in importance as the industry experiences changing customer perceptions and behaviours during the Covid-19 crisis, as well as the rise of agile, and digital-first challengers that put customers at the heart of how they operate.
Trehan: “Banks in India faces tough questions when it comes to customer needs and expectations. Our NPS Prism product for the banking industry will be a valuable tool in allowing these organisations to gain an edge by letting them gain deep insights into their customer experiences, allowing them to identify ways to improve, offer unparalleled service and build lasting customer loyalty.”
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