New Service Models

Quick Facts on the Ecosystem

In the shift from large service industries to a digital 'experience economy', companies are increasingly focusing on customer satisfaction. As we move towards a 'purpose economy', social and environmental impacts are also emerging as key performance indicators. At CVA, we advocate the consolidation of financial returns, customer satisfaction, ESG impact and employee satisfaction into an integrated management tool, the New 'Integrated' Scorecard, to improve strategic decision-making. We help our clients design and implement this scorecard, using data and AI capabilities to define the right KPIs, identify reliable sources, establish data governance and facilitate smarter management across the organisation.

At CVA, we believe it is time to consolidate these four dimensions and indicators.

Macro trends and business implications on the ecosystem:

A combination of social, technology, political and economic trends is dramatically reshaping the Services ecosystems

  • Customer behaviours have dramatically changed: decreasing loyalty to brands, growing demand for healthier and more responsible products, but also demand for immediate, simple and appropriate answers (Personalization/immediate gratification).

  • Value is about creating a form of emotional community between the client and the brands threw omni channel, relevant and differentiated experiences, much more than about the depth and breadth of the retail offer.

  • Digital devices become the primary transactional interface with the businesses.

  • Data and AI are the keys to succeed in the knowledge and the service of those new customers : Companies that massively leverage data, AI and digital networks (AirBnB, Uber, Amazon, Tesla etc.) better know their clients and their expectations and can rapidly extend their range of services, colliding with traditional firms.

This raises common challenges for service providers across all sectors, starting with financial services that suffer a growing competition from FAANG and from startups (neobanks).

  • Better know the clients (ancient segmentations don’t say a lot about the expectations of the customer).

  • Designing new customer experiences and ecosystem strategies to build the bank “as a platform” (enlarge the traditional offer with related services that will attach the customer to the bank in his everyday life; Think what the customer needs rather than what product I want to push to him).

  • Reinventing the customer relationship model by moving from a POS-centric towards a digital-centric distribution. Organize the smart interactions between the different channels: physical, digital, phone etc. (that are generally operating in silos today). Augment the front officers with digital tools so that they can adopt an empathic attitude and abandon the traditional administrative tasks.

  • Implementing digital-native and data-driven operating models, rethinking the client journeys to maximize the satisfaction and optimize costs.

Platform vision & service offering:

CVA ‘New Service Models’ platform aims at addressing these challenges with a customer-centric and cross-sector approach that our ‘big’ competitors cannot easily replicate:

  • CVA turns its focus from conventional industry expertise towards the connections and ecosystems that a firm can create when leveraging a digital and Data-driven operating model

  • CVA does not see digital and data transformation as functional expertise or as the “end game” but rather as “enablers” to grab new business opportunities and reshuffle the cards in a given ecosystem

The ambition of the ‘New Services Models’ platform is to help C-executives of Financial Institutions and services companies to:

  • Define their vision and ambition in the new retail world

  • Anticipate for the collisions from adjacent sectors that will inevitably affect their business

  • Identify opportunities to grow beyond their traditional boundaries

  • Decide and implement the right tools to become a client driven and data centric company

  • Deliver digital and data-centric operating models to unlock growth bottlenecks and provide unique scalability and modularity across products, client segments and countries

On top of our 3 main methodology suites, CVA has conceived a set of ‘data native’ methodologies tailored to service industries where customer value is more about great customer experience than (just) process standardization and product quality:

  • A Corporate Strategy methodology that challenges the notion of competitive advantage in a digital, AI and network-driven economy and supports ecosystem strategies design

  • CORE® (for Customer-Oriented Radical Efficiency): a journey/process and operating model re-design methodology based on design thinking, data and AI, that been developed by CVA to address the two-fold imperative of radical efficiency and truly differentiated customer experiences

Case Study

  • Improved customer satisfaction and NPS up to +20 pts

  • Simplification and drastic reduction of the number of processes (in a ratio of 1:10)

  • Improved end-to-end process efficiency by more than 50%

  • Redirection of 20% to 35% of investments (especially IT) towards future-proof solutions

Platforms