How Banks Are Tearing Down And Rebuilding Customer Experience

"The customer is always right!"

So goes the motto of good business. For a century or more, entrepreneurs, shopkeepers, and global corporate heads alike have been guided by this principle, but perhaps it needs to be slightly updated.

Because, today, customers are not only right—they're also telling you how to run your business.

"The customer has spoken!"

Perhaps this one is better suited to our 2018 reality. Look in the finance sector, for example: the Viacom Millennial Disruption Index has found that 60% of millennials think that big banks aren't designed to service their generation, and 33% believe they won't ever need a banking institution.

That's one third of a whole generation who can imagine a world without traditional banks at all! Furthermore, 53% of the 10,000 respondents see no difference between the institution they use and other banks.