In this study, the writer emphasizes how to retain and acquire customer post merger. There are two focuses regarding this goal. First is how to develop service operation of merged bank is after long journey of integration process. Second is how to manage capturing opportunity to acquire customer. So that, in the end the writer emphasize not only how to retain and prevent customers from going to other bank but also how to get customer want us more and more so that we can win banking industry game.
1. What is the business challenge?
Having analyzed the case, the writer pointed out key business challenges that must be dealt with for retaining current customer and capturing opportunity of potential customers. Here are the key business challenges:
a. Excellent performing of long journey for migrating, aligning, and integrating all of spread branch to new branch model and system. The amount of 650 that spread nationally is huge. The bank need to migrate the ex-branch to new one under chosen platform, to rationalize the overlapping ones, to align the related system at all branch, and establish customer oriented branch model and system.
b. Keeping and gaining customer's trust. After financial crisis, the loss of customer loyalty has been main issue. Customers not only tend to lose their loyalty for financial institution but their trust for bank. They think that bank loses its value to provide them expected service. It'll be worse if there's lack of customer's service operation due to merger process.
c. Catching up the continuous changing of customer need, behavior, and attitude. The customer's need, behavior, and attitude keep changing so that the bank must change to meet their expectation.
d. Optimizing constrain of time, cost, and talent for customer relation purpose. To keep customer from going to other and capture potential customer, the bank need a lot resources. But the resources are limited. So there's need of optimization for available resources to achieve the goal.
e. Staying focus on core competitiveness of merged bank, as corporate and consumer-commercial banking player.
f. Building and expanding the innovative channel network for excellent service operation. To get positioning on market, there is need of expanding branch and ATM availability. Besides it, there's also need build new channel network since the changing of customer base. Utilization of digital infrastructure can be focus to meet market.
g. Building strong brand for targeted segment of customer.
2. How to transform the business challenge into opportunity to win customer?