Background RedPort has been working on bank retention problems since 1998 when one of our partners took on the challenge of running customer value and retention activities for US Bancorp during a difficult merger. Over the ensuing years, we have developed a sophisticated data-driven approach to identifying root causes of retention and have developed specific … Continue reading Getting Your Arms Around Customer Retention
Customer Centric Transformations
How Customer-Centric Strategies Pay Off Financially
Committing to customer centricity will almost certainly require a financial institution to invest up-front to support the strategy - an investment that will pay off over several years. Prior to making the decision to begin a customer-centric transformation, it is important that CEOs have a clear view of how the strategy will result in a stronger financial position for … Continue reading How Customer-Centric Strategies Pay Off Financially
Five Reasons Customer Centricity Fails
Since 1995, the Partners at RedPort have been working on Customer-Centric business models in financial institutions across the globe. From the biggest banks and insurers like US Bank and USAA, to mid-sized credit unions, MFI's and consumer lenders - we have seen countless customer-centricity efforts - many which were successful - and some that were … Continue reading Five Reasons Customer Centricity Fails
Elegant FI’s
If you thought you read Excellence in the title of this post, instead of Elegance, we’re glad you did. To us, simplicity is elegance. The most successful banks, insurers, and credit unions operate with an elegant simplicity that includes a clear focus on their customers, a deliberate commitment to knowing what those customers need, and … Continue reading Elegant FI’s
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