Banks must grasp how criminals interact with their processes and systems. This allows upgraded security to defend customers.

Here’s how using the CEMMethod® to help

User Research and Real Events.

• Study actual fraud cases.
• See how criminals use bank offerings.
• Document fraudste­r actions, steps taken, what they e­ngaged with, and victim emotions.
• Consider both faile­d and successful crimes for a complete­ view.

Chart Fraudster Customer Journe­ys.

• Use the Outside-In Strategic Matrix (OISM), but initially focus just on fraudsters.
• Understand the different types of fraudsters (do a Customer Categorization (CCAT) exercise)
• Develop a Successful Customer Outcome Canvas (SCOC)
• Map the steps from initial bank contact, like account creation through final crime, like unauthorized transactions.
• Calculate the Disruption Factor (DF)
• Use the Innovation approach to identify Moments of Truth (MOTs), weak points, and are­as for improvement within this path.
• Based on the Innovation approach recalculate the DF to show the improvement

Note Every Interaction and Channel.

• Account for all criminal bank MOTs/touchpoints, including:
  • Account creationLogin/authentication
• • Transaction history
• • Phone, email, and chat communications
• • Customer support exchange­s

See how criminals exploit we­aknesses at each ste­p.

• Complete a Risk-Impact matrix (RIM)

Data is Key Ove­r Visuals.

• Mapping the experience visually matters, yet the focus should lie on the underlying information.
• Comprehend patterns, trigge­rs, and behavioural signals.
• Look beyond the aesthetic appeal of the CX map to extract invaluable insights.

Customer Vie­wpoint and Emotions.

• Step into a fraudster’s shoes. Use the ‘empty chair approach’.
• What drive­s them? What emotions arise?
• Also, e­mpathize with legitimate custome­rs who fall prey to fraud.
• Understand their feelings of anxiety, frustration, and vulnerability.

Cross-Te­am Collaboration.

• Involve teams spanning fraud preve­ntion, UX design, security expe­rts, and customer support.
• Share insights, collaborating to address vulne­rabilities identified in the­ fraudster’s journey.

Prioritizing Account Takeover (ATO).

• Recognize fraudsters directly target user accounts.
• Bolster security measures around account creation, login, and password management.
• Educate users on se­cure practices to preve­nt ATO.

Adapting to Evolving Trends.

• Stay informed about shifting fraud tactics.
• As fraudsters adapt, so must your defences.
• Monitor phishing, social engine­ering, and other fraudster me­thods.

Balancing Security and User Experience.

• You should enhance­ security without hindering genuine­ users.
• Make sure the­ security upgrades don’t negative­ly affect user expe­rience.
• Put security measures smoothly, no hassle for real customers.

Keep Improving.

• Revie­w the fraudster’s plan often, update­ CX map regularly.
• Revisit the OISM and CCAT and update them on a regular basis
• Try new che­cks, and analyze if they work well against thre­ats.
• Learn from actual incidents and modify practices accordingly.
  
  

Frequently Asked Questions Related Bank Fraud and the CEMMethod®

Frequently Asked Questions Related to Bank Fraud and the CEMMethod®

1. What is CEMMethod®? How does the CEMMethod® help? The CEMMethod® is a comprehensive approach that aims to improve customer experiences by aligning all aspects of an organization with customer needs and experiences.
   
   It helps by:
   > Lowering costs, increasing revenues, and improving service through the Triple Crown approach.
   > Utilizing tools like the Successful Customer Outcome Canvas (SCOC) and the Outside-In Strategic Matrix (OISM) to identify and prioritize key customer outcomes.
   
2. Implementation Challenges: Common challenges banks face when implementing the CEMMethod® for fraud prevention include:
   > Integrating the method with existing processes and systems in a way that is both effective and efficient.
   > Ensuring that the focus remains on customer needs and experiences while also addressing internal processes.
   
3. Measuring Success: Banks measure the success and effectiveness of the CEMMethod® in fraud prevention by:
   > Assessing the impact on key outcomes such as lower costs, higher revenues, and improved service.
   > Evaluating the effectiveness of techniques and approaches in real-world applications and their alignment with customer needs.
   
4. Integration with Existing Systems: The CEMMethod® can be integrated with existing bank systems and processes for seamless fraud prevention by:
   > Aligning with technologies such as AI, digitization, and machine learning for significant cost reductions and revenue uplift.
   > Adapting the portfolio of techniques and approaches to suit all circumstances, ensuring rigorous dashboards focused Outside-In.
   
   For more detailed information and practical applications, you can explore the resources and guides available on the CEMMethod®

Steve Towers, BPG’s Chief Experience Officer, is an expert in customer experience and process transformation who enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote talks and books (twelve published).

Through the CEMMethod®, now in version 15, he and the BPG affiliates help companies win the triple crown 👑 —the simultaneous ability to Grow Revenue, Reduce Costs, and Improve service.

With over four decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX and Process teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in innovative software companies.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

In the corporate world, a silent and insidious problem exists – jargon. ☠️
It’s a language filled with fancy words and complex phrases that confuse and disengage people during meetings.

Some common symptoms of “jargon monoxide” exposure include:-

🙄 Eyes glazing over during presentations

😵‍💫 Sudden confusion about the meaning of words being used

😵 An irresistible urge to play “buzzword bingo”

For example, a manager once tried to “leverage” and “synergise” to “facilitate a paradigm shift.” The team was left scratching their heads, unsure if this was a new dance move or yoga pose. In reality, it was just a case of excessive jargon, making communication unclear and ineffective.

The key is to use simple, straightforward language that everyone can understand. Avoid complex terminology and aim for a conversational tone. This keeps people engaged and ensures the message is conveyed effectively.

Let’s review a couple of examples and possible cures.

🌩️ The Outbreak of Disruptive Innovation ⚡

Things got out of hand when the marketing team caught the ‘disruptive innovation’ bug. Every idea was ‘disruptive,’ and every plan was ‘innovative.’ The only thing disrupted was clear thinking; the only innovation was finding new ways to say ‘good idea.’

🍎 The Epidemic of Low-Hanging Fruit 🍏

The sales team was next, seemingly obsessed with ‘low-hanging fruit.’ Meetings turned into orchard discussions, but no one brought any fruit to the table. The only thing low-hanging was the team’s patience.

Treatment and Prevention:

• 👉 Open a window. Fresh air helps.
• 🫙 Introduce a ‘jargon jar.’ Offenders contribute to the coffee fund.
• 🗣️ Use plain language. It’s refreshing and, surprisingly, more efficient.
• 📨 Communicate plainly and clearly. Straightforward speech is surprisingly refreshing and efficient.

Remember, folks, jargon monoxide may not be listed on any hazardous materials list, but its effects on communication are deadly. Keep it simple and clear, and save the jargon for Scrabble night. 🔡

Steve Towers, BPG’s Chief Experience Officer, is an expert in customer experience and process transformation who enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote talks and books (twelve published).

Through the CEMMethod®, now in version 15, he and the BPG affiliates help companies win the triple crown 👑 —the simultaneous ability to Grow Revenue, Reduce Costs, and Improve service.

With over four decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX and Process teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in innovative software companies.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

Let’s celebrate with the Scroll of Honour for 2024

Professionals worldwide, 140K+ in 137 countries, have adopted Operations and Strategies for delivering the Ultimate Customer Centricity and Outside-In Success.

They have discovered the game-changing approaches within the CEMMethod® that revolutionized business thinking! “The Outside-In Strategic Matrix (OISM)” – originally developed by companies like the Virgin Group, Amazon and Apple – is your key to unlocking customer-centric success. That and 50 other tools to put all their business transformation initiatives on steroids.

Coached by more than 50+ qualified ACX Mentors, the CX and process professionals help their companies become recognised world-beaters. Recent winners of independent Awards include companies Like Siemens Gamesa, Danfoss, Veolia, Apa Nova, Gilead, Virgin and more. They all boast Accredited CX Masters® and Certified Process Professionals® in their ranks.

Here are some truly remarkable people coaching, training and executing the 2024 business challenges.

Access the one-hour video tutorial and transcript here: https://youtu.be/K4d0wSbFFpg

The CEMMethod® is the Swiss army knife of customer experience excellence

The CEMMethod®, pioneered by the BP Group and Steve Towers, represents a groundbreaking approach to Customer Experience Management (CEM). This innovative method is not just a set of tools; it’s a mindset shift, a comprehensive strategy transforming how organizations interact with their customers.

At the heart of the CEMMethod® is the belief that a deep understanding of the customer journey is crucial for business success. The method encourages businesses to look at their processes from the outside in, starting with the customer experience and working backwards to align internal processes with customer needs.

What sets the CEMMethod® apart is its holistic approach.

It integrates advanced techniques like process alignment, customer journey mapping, and moment of truth analysis, ensuring that every aspect of the customer experience is carefully considered and optimized. The ultimate goal is to create satisfied customers and true advocates for the brand.

The CEMMethod® has been applied successfully in various industries, significantly improving customer satisfaction, loyalty, and overall business performance. It’s a testament to the power of putting the customer first, and under the guidance of thought leaders like the BP Group, it continues to evolve and set new standards in customer experience excellence.

This method isn’t just about improving metrics; it’s about creating lasting, meaningful customer relationships. It’s an inspiring journey towards a future where businesses thrive by genuinely understanding and valuing their customers.

Steve Towers, BPG’s Chief Experience Officer, is an expert in customer experience and process transformation who enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote talks and books (twelve published).

Through the CEMMethod®, now in version 15, he and the BPG affiliates help companies win the triple crown 👑 —the simultaneous ability to Grow Revenue, Reduce Costs, and Improve service.

With over four decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX and Process teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in innovative software companies.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

The Best Professionals in the World Growing their Mastery of CX and Process

Einstein famously said, “When You Stop Learning, You Start Dying”, and the 140K+ people qualified in Customer Experience and Process Transformation would fully agree! The last twelve months have seen more people qualify with Accredited Customer Experience and Certified Process Management than in the previous 30 years.

Learning the latest in Experience Management approaches never stops, especially with the recent introduction of Artificial Intelligence (AI), putting the customer at the centre of all enterprise initiatives.

Extend Your Learning!
The Accredited Customer Experience: Online, In the Room, Customized

The Certified Process Professional: Online, In the Room, Customized

Steve Towers, BPG’s Chief Experience Officer, is an expert in customer experience and process transformation who enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote talks and books (twelve published).

Through the CEMMethod®, now in version 15, he and the BPG affiliates help companies win the triple crown 👑 —the simultaneous ability to Grow Revenue, Reduce Costs, and Improve service.

With over four decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX and Process teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in innovative software companies.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

Here’s how to adopt a proven tool to transform your business performance and deliver customer experience excellence

Adopt Steve Jobs’ Strategy for Ultimate Customer Centricity and Outside-In Success

Discover the game-changing strategy that revolutionized business thinking! “The Outside-In Strategic Matrix (OISM)” – originally developed by companies like the Virgin Group, Amazon and Apple – is your key to unlocking customer-centric success.

This approach shifts focus from traditional internal processes to deeply understanding and aligning with customer experiences. Learn how real-world examples can transform your business perspective, enhancing customer satisfaction and driving innovation.

Don’t miss out on this compelling guide to redefining business strategies for the modern world. Get your hands on this insightful overview now!

Access the one-hour video tutorial and transcript here: https://youtu.be/K4d0wSbFFpg

The CEMMethod® is the Swiss army knife of customer experience excellence

The CEMMethod®, pioneered by the BP Group and Steve Towers, represents a groundbreaking approach to Customer Experience Management (CEM). This innovative method is not just a set of tools; it’s a mindset shift, a comprehensive strategy that transforms the way organizations interact with their customers.

At the heart of the CEMMethod® is the belief that a deep understanding of the customer journey is crucial for business success. The method encourages businesses to look at their processes from the outside in, starting with the customer experience and working backwards to align internal processes with customer needs.

What sets the CEMMethod® apart is its holistic approach.

It integrates advanced techniques like process alignment, customer journey mapping, and moment of truth analysis, ensuring that every aspect of the customer experience is carefully considered and optimized. The ultimate goal is to create not just satisfied customers, but true advocates for the brand.

The CEMMethod® has been applied successfully in various industries, leading to significant improvements in customer satisfaction, loyalty, and overall business performance. It’s a testament to the power of putting the customer first, and under the guidance of thought leaders like the BP Group, it continues to evolve and set new standards in customer experience excellence.

This method isn’t just about improving metrics; it’s about creating lasting, meaningful relationships with customers. It’s an inspiring journey towards a future where businesses thrive by genuinely understanding and valuing their customers.

Steve Towers, BPG’s Chief Experience Officer, is an expert in customer experience and process transformation who enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote talks and books (twelve published).

Through the CEMMethod®, now in version 15, he and the BPG affiliates help companies win the triple crown 👑 —the simultaneous ability to Grow Revenue, Reduce Costs, and Improve service.

With over four decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX and Process teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in innovative software companies.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

The discussion reviews the state of play and trends

Teaser preluding the podcast with host Ran Yousef of Glassix

ACCESS THE FULL INTERVIEW AND INSIGHTS (with Transcript) from these links:

The 90-second preview transcript provides a nice taster for the main course

Prelude to the main podcast

Now, as you already mentioned there, Ran, at the end of the day, everything comes back to customer experience. It’s the customer who creates all the work for our organizations. So it makes sense that we should be focusing our attention on how do we deliver successful customer outcomes. So in the context of generative AI, that puts our whole CX world on steroids, if you like, because many of the things that we’ve been saying for the last 15 or 20 years are now able to come to fruition in double quick time.

So with those sort of things in mind, you know, setting the sort of the scene there, you know, we’ve got, we’ve got areas, I won’t dive into detail. I’m certainly not going to go technical today, but we’ve got the areas like personalization, you know, the ability to be able to understand that our customers at a singular level.

So whether we’re a B2C, a B2B, a government, a not for profit, a charity or whatever, getting a real intimate understanding of our customers and the data associated with that allows us to really [00:01:00] personalize a service and a product we can deliver. Likewise, there’s things that we can do which have always been like, you know, we quest for 24 7 service, don’t we?

We want to deliver that for our customers, but it could become inordinately expensive. But with generative AI now, we can offer that as a service where people can interact, you know, in, in multimodal models. So, you know, through the phone, through the web, you know, through their apps and anyway they want to have a consistent set of interactions and be able to capture that in a way that seamlessly can connect with customer successes.

Steve Towers, BPG’s Chief Experience Officer, is an expert in customer experience and process transformation who enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote talks and books (twelve published).

Through the CEMMethod®, now in version 15, he and the BPG affiliates help companies win the triple crown 👑 —the simultaneous ability to Grow Revenue, Reduce Costs, and Improve service.

With over four decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX and Process teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in innovative software companies.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

YOU may be measuring Customer Experience in the wrong way

Measure CX Right or Risk Business Failure – Videos and Case Studies reveal best/next practices from the worlds leading CX organisations.

ACCESS THE COMPLIMENTARY 4 WEEK PROGRAM INCLUDES THE DECKS (PDF), VIDEOS & TRANSCRIPTS

The PROGRAM includes a dozen Case Studies , a Discussion of the reasons why some organisations fall into the same traps over and over (and how to avoid them).

Here’s an extract:

Here’s just one example from last week of all times where Tesla, let’s put the name out there as a warning to others, has been, over the years, the top in Net Promoter Score performance, if you like, across their particular industry. And yet at the same time, their customers are experiencing increasing issues.

See the Reuters report on Tesla’s failings: “Tesla created a secret team to suppress thousands of driving range complaints”

Poorer customer service has mapped through the number of complaints that they were receiving. So how could it be that they were being so successful with N P S compared with the rest of the industry? While at the same time the number of complaints have been increasing. And last week it was noted that people were gaming the system.

Tesla not measuring up

They were doing this by attaching the NPS and Customer Satisfaction scores to bonus schemes. Hence, not surprisingly, the scores were going up, the scores were improving month on month, quarter on quarter and year on year, right? And as it says, if you pay people for doing dumb stuff, they’ll get really smart at it.

And that’s precisely part of Tesla’s problem. And this goes back, and this isn’t like one incident. This goes back six or seven years, and there are reports that you can get through the links later on. They laid off a whole bunch of staff in finance and marketing for actually gaming the system and being very selective about who they asked and who they surveyed to produce the right results.

GET ACCESS TO THE PROGRAM

Steve Towers, BPG’s Chief Experience Officer, is an expert in customer experience and process transformation who enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote talks and books (twelve published).

Through the CEMMethod®, now in version 15, he and the BPG affiliates help companies win the triple crown 👑 —the simultaneous ability to Grow Revenue, Reduce Costs, and Improve service.

With over four decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX and Process teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in innovative software companies.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers