Customer Experience Index 2009: How are retail banks overcoming the financial storm in Russia?

9:00, 8 December 2009
Ritz-Carlton Hotel
Moscow, 3 Tverskaya st. (Find on map)

On Tuesday, December 08, a special briefing on the third issue of our study “Customer Experience Index 2009: How are retail banks overcoming the financial storm in Russia?” will take place at 9:00 am at the Ritz-Carlton Hotel, 3 Tverskaya Street, Moscow.

The Customer Experience Index (CEI) has been designed as a tool to measure the quality and consistency of customer experience and also to provide a new benchmark for retail banks. The economic boom in Russia over the recent years, despite the current crisis, has shown that consumers have more choice; and, therefore – power in choosing their service providers. This development is directly connected to the way the retail industry including retail banks, does business today. New competitive challenges in the form of price-competition, customer loyalty, and customer satisfaction, among a few, blanket the market with a new sense urgency to focus more on the Customer.

However, the current global financial crisis has added a whole host of new challenges that banks must currently deal with. While many banks are justifiably busy cutting costs and building up liquidity, they should not forget about the customers. That is why we believe that this year’s Customer Experience Index provides even more practical value today.

Customer Experience is the new competitive dimension in retail, and banks are no exception. Those who embrace it stand a good chance to avoid the grueling price war with their competitors and develop winning strategies that could strengthen their relationships with customers.

In order to assess customer experience in the retail banking sector, Senteo has developed a comprehensive and scientific methodology. With a view towards ensuring reliability of the survey results, the methodology was audited by PricewaterhouseCoopers. As part of our joint effort PricewaterhouseCoopers and Senteo consultants have analyzed 38 banks in Moscow, based on unbiased mystery shopping visits. Data from these visits forms the basis for our report.

We hope that you will find some free time in your busy schedule to attend our exclusive briefing for bankers-only in order to learn about how your bank compares to others and how to improve on key factors that affect customer experience. To confirm your participation, please contact Ms. Aleksandra Vandysheva

Ritz-Carlton Hotel