Redefining Customer Experience in Saudi Banking

KPME Redefining Customer Experience in Saudi Banking

The Background

The financial services industry has long recognized that improving customer service is crucial for growth. Banks that prioritize customer satisfaction tend to grow 3.2x faster than their rivals, gaining increased revenue, a larger customer base, and a distinctive competitive edge.

Our client, one of the largest commercial banks headquartered in Riyadh, Saudi Arabia, is at the forefront of this customer-centric revolution. With a strong presence that extends across 8 countries, the bank is not just a significant financial institution but also a driving force in Saudi Arabia’s economic transformation. As the nation progresses toward Vision 2030, the bank’s commitment to elevating customer relationships is set to play a significant role in shaping the future of banking in the region.

The Challenge

In response to feedback gathered from branch visits indicating areas for improvement in customer experience, the bank recognized the imperative of prioritizing customer experience and the need to enhance employee training despite its commendable performance thus far. The bank identified the need for a comprehensive training program to equip its employees with the necessary skills and mindset to deliver exceptional customer service tailored to each customer’s unique needs. The overarching objective was to introduce a customer service intervention across all bank branches, ensuring the delivery of a consistent personalized service that places the customer experience at the forefront.

The Solution

To bridge the gap between its current performance and the customer service standards it aims to achieve, the bank embarked on a strategic partnership with Kaplan. Kaplan crafted a bespoke 2-day training program tailored to address the following needs:

Increase customer satisfaction scores by a specified percentage
Implement the new service style in 80% of all branches, to enhance customer service
Boost employee engagement scores and improve employee retention

The program was delivered in key locations—Dammam, Riyadh, and Jeddah—ensuring that the employees across these regions were equipped with the essential skills and knowledge to deliver outstanding service. Participants were introduced to CARE, an innovative and strategic operating model for customer excellence meticulously developed by our team for the bank’s unique needs. This comprehensive framework was adopted across all branches that encompassed a range of topics designed to refine communication abilities, problem-solving aptitude, time management skills, professional image, empathy, and other pertinent areas essential for enhancing customer service excellence.

Participants were also reminded of the importance of staying updated on the bank’s latest products and services to provide informed and proactive assistance to customers. This knowledge was complimented by shared practical problem-solving techniques, aimed at swiftly identifying and resolving customer issues to enhance satisfaction and loyalty.

Conducted from October to December, the program successfully engaged 45 cohorts, marking a significant milestone in the bank’s journey towards service excellence and setting a new benchmark for customer experience in the financial sector.

The Impact

The program achieved remarkable success, boasting a consistent 99% rating across essential elements of the training. This comprehensive evaluation covered critical aspects, including the overall course delivery, the trainer’s subject matter knowledge and professionalism, effective concept simplification, engaging in-class activities, the relevance of the training materials, and the quality of supplementary resources such as exercises, examples, and case studies. This outstanding performance underscores the program’s effectiveness in delivering exceptional value and expertise, positioning our organization as a leader in customer-centric training within the banking industry.

Following the successful completion of 45 cohorts across Dammam, Riyadh, and Jeddah, involving over 1100 participants, the Enhancing Customer Experience Development program yielded significant results. Participants honed their skills in positive language, tone, and active listening skills, enhancing their ability to communicate more effectively with customers, foster rapport, and demonstrate empathy. They have consistently upheld a professional image aligned with the client’s standards, delivering timely and responsive service, and personalized experiences that consistently surpass customer expectations.

Through the program, participants from diverse regions gained a deep understanding of client needs, banking sector trends, and the nuances of delivering exemplary customer service. Effective communication, customer engagement, and innovative service strategies have been central to fostering a qualitative improvement in service standards. Equipped with practical knowledge, participants are well-equipped to embrace the bank’s vision and objectives, thereby enhancing the customer experience and driving a positive impact within the banking industry.