Best CX Company People’s Choice profiles: CBA’s customer feel-good factor

CBA recognised for listening to customers, finding out their painpoints

The Commonwealth Bank of Australia (CBA) has been awarded the CX Company People’s Choice in the finance, banking and insurance category for its efforts to improve how it communicates with customers to find out what services they want from the bank.

The award was presented as part of the inaugural Best Customer Experience Companies List in Sydney. The list was developed and presented by customer engagement strategy consultancy, Fifth Quadrant, and supported by CMO and event sponsor, Oracle.

“The journey CBA has gone through from a customer experience perspective is nothing short of extraordinary,” said a CBA spokeswoman.“Over the past few years, there have been co-creation workshops and imbedding the strategy into our frontline staff that it’s less about selling products and more about how you make the customer feel.” In addition, CBA has been contacting its clients to try and develop the services or relationship with the bank they want.

“It seems so simple to just pick up the phone and find out what your customer wants- is it a transactional relationship? Or are they looking to build a partnership with you? The only way we are going to understand that is by asking them," said the spokeswoman.

Because CBA is a large organisation with approximately 40,000 staff, a customer experience and advocacy centralised department is being created to share information and strategies.

“It’s not all about success stories but the other stuff that happens like complaints and the steps we have taken to eradicate that [complaint] and take it further,” said the spokeswoman. “We want continuous improvement and to help make it [customer experience] better.”

Commenting on the Best CX Company People’s Choice Finance, Banking & Insurance award, the spokeswoman said the awards are a “fantastic reflection” of the fact that the financial services industry has changed.

“It’s not about focusing on the products that you are selling but on the way you make your customers feel. That’s very important to CBA at the moment with client centric activities and finding out what their pain points are,” she said.

More from the inaugural Best CX Companies List

Follow Hamish Barwick on Twitter: @HamishBarwick

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, or join us on Facebook: https://www.facebook.com/CMOAustralia

Signup to CMO’s new email newsletter to receive your weekly dose of targeted content for the modern marketing chief.

Join the CMO newsletter!

Error: Please check your email address.
Show Comments

Supporting Association

Blog Posts

Behaviour change, by design

​We’re living in an age of unprecedented change. We experience with Oculus Rift, invest with Acorns, consume video through Hyper, tune into Pandora and navigate with Waze.

Glen Jeffreys

Head of UX, Deepend Group

Chat bots: How to use them commercially right now

I’m sure that many of you out there have heard a lot about chat bots (aka messaging bots) recently, and the fact that they are here to stay is pretty evident by now.

Deniz Nalbantoglu

Managing director, Webling-Interactive

Top tips to uncovering consumer insights for business innovation

An in-depth understanding of consumers sits at the heart of what we all need to do, but we know it’s not always easy to uncover insights that will unlock a true innovation opportunity.

Matt Whale

Managing director, How To Impact

Thanks, Nadia. It was so interesting blog for me because it helps me able to understand well on the basics of business and marketing conc...

MichaelBGreen

3 ways marketers can raise their executive influence

Read more

Having been to the AO on Wednesday for the first time in a number of years I was very impressed with the new branding. The event has evol...

Naomi

Tennis Australia unwraps new brand identity for Australian Open

Read more

This was amazing and so inspiring. Thanks for sharing.

Vijay Kumar

Design thinking: Leading with experience

Read more

Great read, thanks for posting. MR should be seen as the holy grail for marketers and brands, as it offers an unprecedented capability to...

Barney

Interview: The business case for mixed reality in marketing

Read more

what a load of shit, and what a major stuff up... the new brand device is sterile, boring and just plain bad. Would be better suited to a...

James Yoi

Tennis Australia unwraps new brand identity for Australian Open

Read more

Latest Podcast

More podcasts

Sign in