Client-centricity was highlighted at Capitec’s recent AGM as the primary reason for the bank’s rapid growth. There’s no doubt among shareholders, investors, consumers and competitors that Capitec is a major success story. Since 2001 it has transitioned from being a lender to a full transactional bank. Most recently, it has entered business banking with a suite of entry-level products. Capitec puts the customer at the heart of its product development and marketing, but it is also among a small yet progressive club of businesses that execute customer experience (CX) well, because the customer mandate is openly supported by the bank’s CEO. Customer experience stalls Forrester’s “2018 Predictions: A Year of Reckoning” report suggests that CX has “hit a wall”. Among US companies, progress in CX efforts has gradually slowed over the past few years. The market research firm predicts that 30% of companies will experience a further decline in CX quality, which will affect commercial growth. ...

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