GBS WORLD NEWS | WEEK 3 | MAY 2022

The share of consumers in Asia-Pacific (APAC) actively using digital banking has increased by 88% this year, compared to 65% four years ago, according to McKinsey’s 2021 Personal Finance Survey. The report is one of several highlighting how customers’ digital experience is reshaping traditional banking services and relationships in the region. As such, financial services groups in APAC have embarked on campaigns to improve their digital services over the past two years.

Winners of the annual Fonolo 2022 CX Excellence Awards were announced in Toronto, Canada, with Oregon Public Employees Retirement System (PERS) and Educational Employees Credit Union (EECU) claiming top spots for their commitment to creating exceptional CX. Celebrating its 6^th year, Fonolo’s annual CX Excellence Awards recognize contact centers that demonstrate excellence in customer service and CX. Ratings are based on the amount of hold time brands saved their customers over the previous year.

Outsourcing providers were also recognized for their remarkable service delivery, this time in the US where PeopleScout was named a Leader in Everest Group’s Recruitment Process Outsourcing (RPO) Services PEAK Matrix® Assessment 2022 for the fourth consecutive year. The ability to manage high-volume recruitment programs, flexible and agile service delivery approaches and the capabilities of its Affinix platform were major factors behind PeopleScout’s recognition. PeopleScout has also been listed as a Major Contender in Everest Group’s debut RPO PEAK Matrix for EMEA.

Leading Israeli customer identity and access management (CIAM) SaaS solutions company, Transmit Security, announced its expansion into the European market to address the rapidly growing demand for password-less customer authentication and other solutions in the region. Transmit Security has achieved 225% growth in Europe, the Middle East and Africa (EMEA) region over the last year, bringing in brands, such as HSBC, UBS, Telepass S.p.A., Santander, MetroBank and NN Insurance into its client portfolio.

Europe also sees the arrival of the rapidly-expanding global cloud contact center firm, Five9, announcing the availability of two data centers located in Frankfurt and Amsterdam. The data centers will serve Five9’s customers located across the EMEA region, which will deliver contact center and CX solutions to multinational companies with a presence in both the US and EMEA.

The global customer experience (CX) management market is projected to reach an estimated US$23,9 billion market valuation by 2028, growing from US$8 billion in 2020 and achieving a compound annual growth rate (CAGR) of 14.65%, according to a Fior Markets report. Some of the growth drivers in the market include the rising importance of understanding customer behavior and preferences, a growing trend of investments in customer retention approaches and the increasing need to cater to consumer satisfaction.