Banking Services

Consumer Banking - Part 5


This eCourse consists of three modules. Module 1 shows how superior customer service has its foundations in bank operations and how consumer banks must rise to the challenge of complexity posed by multiple products capable of being accessed from multiple channels. For those banks that succeed in delivering superior customer service, the rewards are significant in terms of cross-selling opportunities, less price sensitivity on the part of customers, and the recruitment of active advocates for the bank. But levels of customer service and customer satisfaction must constantly be measured. The module also identifies key indicators of customer satisfaction and emphasizes the techniques and metrics employed to ensure high levels of customer retention.

Module 2 sets out the factors that have transformed the financial services marketing function since the turn of the century. It analyzes the particular psychological factors that affect a customer’s decision-making process and, consequently, the marketer’s approach to product design and delivery. This module also illustrates customer segmentation and pricing techniques.

Module 3 sets out the principles and responsibilities that lie behind an ethical consumer banking sales function – how the salesperson must at all times comply with best practice and act in the customer’s best interest. The selling of consumer financial services is an area fraught with difficulty and risk. This module explains how the traditional sales cycle model has been displaced by an outcome-based approach that rejects product push and seeks to identify and incorporate a customer's needs into the product or solution to the benefits of both the bank and the customer. It also compares the direct versus indirect distribution model and the particular risks that attach to the latter. The factors, techniques, and compliance requirements that lie behind product suitability are also examined.


On completion of this course, you will be able to:
- Recognize that effective banking operations are the foundation of superior customer service
- Describe the components and benefits of a superior customer service offering
- Describe how the consumer banking environment has been subject to major structural and social forces that have transformed the sourcing and development of customer relationships
- Recognize that customer decision-making in relation to financial products and services is often based on heuristics rather than a rational approach
- Outline how segmentation is critical in matching financial products with the correct audience
- Explain the complexities associated with pricing in a consumer banking environment
- Outline the fundamental principles of selling in a consumer banking environment
- Recognize the importance of analyzing the sales process in terms of the customer perspective rather than the organizational sales imperative
- Compare bank distribution strategies in the context of selling
- Describe the critical importance of product suitability when selling in a consumer banking environment


Module 1: Consumer Banking - Customer Service
Topic 1: Customer Service Challenges
Topic 2: Elements of Service Quality

Module 2: Consumer Banking – Marketing
Topic 1: Market Environment
Topic 2: The Customer Decision Process
Topic 3: Customer Segmentation
Topic 4: Pricing

Module 3: Consumer Banking – Selling
Topic 1: Principles of Selling
Topic 2: The Buying Cycle
Topic 3: Distribution Models
Topic 4: Product Suitability


SFC:2.50, PWMA:2.50
Staff of Corporate Member: HK$675
Non-Member: HK$975
All Member: HK$675