What are 3 Barriers to CX Improvement?
Excerpt from the Harvard Business Review - Customer Experience Report
The 3 biggest barriers are:
- Org. silos stopping stakeholders
- Employees resistant to the changes
- Inflexible, outdated technology
Executives in treasury management and innovation at one of the world’s largest banks believe that to stay ahead of their competition, they have to do things differently. They use cloud to experiment and roll out new capabilities quickly, but when it comes to features they think will be differentiating, they build their own.
“We have lots of things pushing against us,” said the head of innovation for the bank. “We have these big old systems of records.” They’re separating the back end from the front end as much as possible in order to focus on rapidly changing customer needs and roll out new capabilities every 90 days. They use rapid prototyping tools and APIs to deliver new products quickly.
“In banking, you can’t separate the products from the experience,” he said. “How we deliver is becoming more important than what we deliver.” For instance, he said, lots of banks do wire transfers. The differentiation comes in the experience of how the wire is delivered. “That is now embedded in the product.”