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Reference no. 517-0200-1
Published by:
University of St Gallen (2017)
39 pages
Data source:
Field research
The case treats the OCBC Customer Experience Design department's unique approach towards managing and improving customer experiences. In designing customer experiences, the department implements three principles: customer insight, simplicity, and design. The insights are iterated within each project, connected between projects, and aggregated in order to create larger impact across all customer interactions. Four improvement projects of the design team demonstrate their approach (letters, forms, website, and mobile app). Moreover, OCBC developed FRANK bank, a new banking concept explicitly targeted at young customers, which has received lots of rewards and appraisal in the banking industry. OCBC implements a design thinking process and emphasizes customer collaboration, employee involvement, and the monitoring of results. Key is that customer experience management is strongly anchored within the organization. All employees - from top-management to front-line - are engaged in improving customer experiences. Banks in the Singaporean financial industry face strong pressure to deliver superior customer experiences. This is due to government and competitive pressure and high customer expectations. OCBC (second largest of three major local banks in Singapore) makes customer experience management central to its corporate strategy. OCBC has a history of delivering superior customer experiences and excels at differentiating itself through customer experience management.
Learning objectives:
1. Differentiation: Understand the differentiating role of customer experience management in an environment of little product differentiation, fierce competition, consolidation, fast technological development, and quickly evolving customer demands. 2. Strategic impact: Understand and challenge the strategic role of customer experience management. Analyze the potential differentiating impact and limitations of customer experience management. 3. Innovation: Analyze the attributes of OCBC’s approach towards managing the customer experience and their role in creating differentiation through customer experience. Understand how design thinking contributes to the improvement processes at OCBC. 4. Realization: Analyze the interplay of strategy, structures, culture and individual efforts to sustainably anchor customer experience management. Learn how to bring about organizational change and about the challenges associated with this.
Singapore, Banking, 2015-2017, >10 000 employees; USD283.7 billion total assets
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