Why delivering enjoyable client experiences is still a challenge for many banks, and how to make it a success - Banking blog


Banks in Switzerland struggle to exploit the potential of digital client experience (CX) programs. We have identified two areas where failure with CX initiatives can be avoided by taking the right approach and understanding the typical pitfalls and mistakes.

Delivering great digital client experiences is still a challenge for many banks

  • Investing in CX: Banks of all types are starting to invest in client experience programs, but not many successes have yet been brought to market.
  • Trust in a digital setting: It is difficult for banks to generate trust in an environment where everything is commoditized and personal interaction is limited. This problem can be overcome by offering consciously designed interactions.
  • Impact of COVID-19: The impact of the COVID-19 pandemic has accelerated developments. Digital and data-enabled client experiences are no longer simply an option to drive differentiation; they are now essential to maintaining a relationship with clients and delivering the expected service quality.

 Key challenges for banks with CX: Based on our extensive experience in the banking industry and with CX initiatives, we have identified two areas where problems occur: (1) establishing an Experience Life Cycle and (2) defining all its layers. If not addressed, these problems often lead to weak CX initiatives that do not live up to their expectations or simply fail.

Establishing an Experience Lifecycle
Typical challenges in the Experience Life Cycle

  1. Strategize

    • CX is not anchored in the overall strategic vision
    • No clear expectations are set for CX in terms of a business case
    • Client insights are missing and decisions are based only on management assumptions
  2. Design

    • Rather than basing the experience on a clear strategy and defined value proposition, design teams are forced to “match the taste” of their leaders, resulting in management rather than client-centric solutions
    • Fast prototyping and testing to validate value propositions is still not common
  3. Execute

    • IT and design professionals are involved too late
    • CX teams are often not cross-functional, leading to inconsistent
    • To implement CX initiatives, a specific skill set is needed. Building it up takes time.
  4. Measure

    • Organizations struggle to define and measure the right KPIs to get an understanding of the CX performance
    • Measuring is not applied as a continuous activity to enable the bank to improve its CX
    • CX KPIs are not included in performance dashboards, making it difficult for management to understand the quality of the current client experience.

Defining the experience on all relevant layers

To address these problems in the phases of the Experience Life Cycle, it is necessary to ‘dive deep’ and define the impact, requirements and solutions on all the experience’s layers.

Defining the experience on all layers

To understand how to define the client experience on all levels throughout the entire Experience Life Cycle, we will publish ‘deep dives’ for each phase in the coming months. In the next blog post, we will take a closer look at the strategize phase.

Case study

A global Swiss wealth manager began an initiative to improve individual client and experiences. While the initiative showed traction in the beginning, only few improvements were actually implemented. We were asked to analyse the problem and improve the initiative for implementation.

Our analysis revealed three main pain points:

  • The organization was not prepared and did not have the mindset or the skills to support the initiative.
  • The organization was structured in rigid silos that did not support the requirement for cross-functional collaboration.
  • Consequently the IT and technology function was not involved in the initiative from the beginning.

We helped the client to address these pain points by re-structuring the CX team in order for it to become cross-functional, ensuring that the technology function was involved and silos were broken up. Through customer insights, we generated action steps to allow for small but quick achievements and success stories that created excitement and strengthened the CX team: This led to further management buy-in.



Cyrill Kiefer - Partner, Financial Services

Cyrill is Partner in Financial Services and is leading Deloitte’s Retail Banking Segment in Switzerland. He successfully led various «end-to-end» transformation projects in the area of digitalization, innovation, sales excellence, trading and organizational change management for retail- and private banks in Switzerland and Germany. Cyrill currently focuses on the transformation of digital business models.



Jonathan Herrle - Lead Customer Experience Strategy & Design

Jonathan Herrle is a customer experience and digital strategy expert with over 10 years’ experience ranging across multiple industries, enabling him to transfer knowledge from one industry to another with a special focus on customer experience, business transformation and change management.
He is an expert in Design Thinking, Human Centered Design, Agile and a strong speaker and facilitator.
With his teams, he has won numerous high profile design awards for outstanding product design and digital experiences



Farah Buchheim - Customer Experience Strategist 

Farah is an experienced design strategist in the Monitor Deloitte practice in Zurich. She translates insights into user-centred action, enabling informed, evidence-based decision making.
Farah specialises in user research, customer experience strategy and design thinking, and supports clients across industries.