What can utilities leaders learn from retail banking’s success in developing digital strategies that enhance the customer experience?
Findings from the 2019 CGI Client Global Insights reveal that enhancing the customer experience is high on the agenda for utilities executives and that developing a firm grasp of how to integrate and approach agile digital strategies has never been more important.
Many utilities still trail behind more customer-centric industries such as retail banking—an industry that excels in using digital channels and providing enhanced customer experiences. It is valuable for utilities to learn and emulate the best practices, technologies and models that have driven retail banking’s success.
Open banking, a roadmap for banks to securely share customer data with apps, competitors and others, is moving ahead full steam in Europe and is also beginning in Australia. The extension of data sharing to other sectors, in particular the energy sector, is just a step away. This opens up opportunities for utilities and banks alike to offer differentiated services and new products.
Key topics discussed:
- Utilities’ progress in their digital transformation journey, investments and innovation focus
- Utilities’ maturity in using digital channels to enhance the customer experience
- Challenges in delivering results from digital strategies, and what utilities can do differently
- Lessons learned from more digitally advanced industries
- Successful strategies by banks that transform the customer experience
- Impact of open data on banks and its potential impact for utilities