CONFIDENTIAL

Building better Customer Experiencesat Credit Suisse

November 2007Bojan Blecic, VP Customer ExperienceClient Insight Management

B. Blecic, Customer Experience November 07

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Credit Suisse - Facts & Figures 2006

Source: http://www.credit-suisse.com/investors/doc/facts_figures_usd_en.pdf

Founded in 1856

Active in over 50 countries.

Approx. 45'000 employees

Assets under management in trillions

$ 1.2

Net income in billions

$ 9.8

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A lot of customers are interacting with us

Every month in Switzerland...

More than 225,000 calls are handled by the contact center

Approximately 600,000 client visits are served in our branches

More than 3.5 million envelopes are mailed out There are over 400,000 log-ins into the e-

banking tool

...we have countless personal interactions with clients and prospects....

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Why we started to care deeply about the Credit Suisse Experience

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Gap to leading position

37%

42%

58%

79%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Credit Suisse

Retail Banking Clients

Percent of clients willing to recommend main bank

Source: Basisbankenstudie 1. Semester 2004

oth

er

banks

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Customers considering to change Bank (including:"yes, I will change soon / " yes, I have already thought about it")

Ø 14%

25%

25%

17%

13%

12%

12%

6%

9%

The risk of loosing customers is higher than the average...

1%

1%

2%

2%

1%

2%

3%

3%

8%

5%

10%

10%

12%

15%

22%

22%Credit Suisse

oth

er

banks

yes, will change soon

yes, I am thinking about it

Source: Basisbankenstudie 1. Semester 2004

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A visit to the branch

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Which button would you push?

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What happens when we 'think' we know what is good for the customer

?

Discretion?Comfort?Clarity?

Everything here is rarely, if ever seen

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Within a framework agreement (duration of 1 - 10 years), individual tranches (duration of 3 - 12 months) are fixed. You can choose your preferred duration for a tranche, giving you direct influence on the length of your fixed interest rate periods. Once a tranche has expired, you can select a new tranche within your framework agreement depending on how you see future interest rates developing. Alternatively you can take the opportunity in accordance with the agreement - to switch to a different mortgage model from our extensive range.

Even the language we use with our customers isn't quite what they need...

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And the Employee Experience

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At the intranet as well, there are some things that might be confusing users....

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So, why do bad experiences ever get created in the first place?

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I just don't understand it...

Figure out what went

wrong

Customers react

The reason that customer experiences are poor is down to how they are created within the business

Launch it Build it Generate ideas internally for new products

Hey, I've got a great idea for a new product...brochure... website...HR policy... branch...software...

Customers are gonna love it!

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Culturepatterns of human activity and the structures that give them significance and importance.

http://en.wikipedia.org/wiki/Culture

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Focus on the customer!Be customer focused!

How the heck do I do that?

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We have our mouths full of customers, but our practice is full of ourselves.

M. Rijsberman

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B. Blecic, Customer Experience November 07

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The Work

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The Result

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The First step in improving any customer experience is understanding that customer experience.

The first step in understanding a customer experience is developing....

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"You can't know your customer until you've gone through your customer experience yourself." - CX Team

"You can't know a person until you've walked a mile in their moccasins." - American Indian Saying

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Filling out a form is not always easy...

Increase in comprehensibility in content and usability

Reduction of error rate in form completion to 9.3% (from 18.5%)

Higher external and internal customer

satisfaction

~ 50 %less mistakes

...in fact 18.5% of the forms have mistakes

Authors

Clients

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Experience Immersion

is a technique you can use to develop customer empathy in yourself and those around you.

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" If you tell me I will forget, If you show me, I will remember If you involve me, I will understand "

Confucius

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Private Banking Retail BankingCorporate Banking

Very satisfied

Satisfied

Dissatisfied A B C A B A B C

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Does anyone know where the salt is?

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We now have client metrics on our management scorecards.

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Improvements in the branch

Increase in sales leads: 100%

Traffic moved from cash-desk to ATM:30%

Marketing awarness: 400% increase

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Do it yourself

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involve your people

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Bojan BlecicCustomer Experience, Credit Suisse

Thanks

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