(3 October 2023 – Asia) The “human touch” in relationship management is increasingly determining success in cash and payments as switching intentions continue to increase, new East & Partners analysis reveals.
Asias largest corporates display record high customer switching intentions…so what is driving customer churn?
How much is digital innovation affecting CFOs value perception of their Relationship Manager?
“There is an enormous variance in wallet share and churn performance observed between international and regional Asia banks” commented East & Partners Global Head of Markets Analysis, Martin Smith,
“Among the top 100 revenue ranked corporates in each of ten Asia markets, one in two plan to switch up to 46 percent of their transaction banking business on average for a superior RM experience. While technology and innovation is crucial, deploying and implementing new solutions hinges on RM capability which is increasingly becoming a key driver of customer churn” Smith added.
Source: Asia Cash and Payments Service – May 2023 (N: 929)
Source: Resurrection of the RM Global Insight Report – June 2023 (N: 751)