Over 60% of Emirates Islamic customers now bank through online and mobile banking channels.
Transitioning to online customer service has been quite challenging. The primary goal is to establish faster response times and adapt to new business paradigms like global competition and modern customer expectations.
Here are five challenges that sessions at the CX NXT BFSI Summit aims to solve.
Banks in the UAE and GCC regions of the MENA face the challenge of meeting the exceeding customer demands for connected experiences across various channels, available round-the-clock. THe hurdles include but are not limited to inconsistent customer experiences (CX), regulatory restrictions, organisational data silos, varying regulatory frameworks across different regions in the Middle East, and outdated tools.
CX NXT Session:
PANEL SESSION: Meeting the Demands of the Modern Consumer
The panellists will delve into various aspects of customer experience (CX) across the MENA region. One focus will be comparing the diverse expectations and evolving priorities of customers in different countries within the region. Additionally, the panels will shed light on the strategies implemented by business leaders to elevate their customer experience promises, navigating challenges such as regulatory restrictions and organisational barriers.
Achieving excellence in customer service by effectively understanding and addressing customer needs and wants is crucial. Consequently, recognising the significance of capturing and analysing customer feedback becomes imperative to continuously improving the customer experience.
CX NXT Session:
KEYNOTE: Listening for Success: Elevating BFSI CX in MENA with Customer Feedback Excellence
Sindhu Sreenath, Managing Director at QuestionPro will discuss how it’s essential to integrate CX metrics with business metrics effectively. This can be achieved through methodologies that measure customer satisfaction, such as Net Promoter Score (NPS), and by leveraging customer feedback to drive meaningful changes. Traditional CX metrics may indeed require an overhaul to adapt to evolving customer expectations and technological advancements. By utilising data analytics, businesses can gain valuable insights into customer behaviour and preferences, allowing them to create the ideal customer experience.
As smart and savvy fintech competitors continue to enter the market, banks and financial services in the MENA region face the pressing need to adapt and respond effectively. The challenge lies in navigating the complexities of digital transformation while leveraging technology to enhance the customer experience. This entails not only meeting evolving customer expectations but also fostering stronger customer loyalty and satisfaction amidst increasing competition from fintech disruptors.
CX NXT Session:
PANEL SESSION: CX Transformation in BFSI- Building Trust and Security in the Digital Era
The panel will discuss how traditional financial institutions in the MENA region are responding to the challenge of fintech competition by prioritising user-centric digital banking environments. They’re tailoring products and services to meet generational needs and addressing customer concerns about data privacy, cybersecurity, and trust in digital financial services through robust security measures and transparent communication.
The CX NXT – Customer Experience BFSI Summit UAE will have reputed industry speakers taking the stage to address challenges and opportunities in the BFSI industry. Some of the brand leaders include Adel Hameed, Senior Vice President, Global Customer Success at PayTabs | Maram Habash,Senior Vice President and Head – Client Experience and Conduct – Retail Banking & Treasury at Mashreq | Pranay Sharma, Chief Product Officer in Advanced Analytics CoE at Emirates NBD | Lina Yahya, EVP & Head – Customer Excellence & Protection at RAKBANK | Mai Momani, Head of Client Experience at Invest Bank.
For registration and more details, visit CX NXT – BFSI Summit.