Tangerine Bank Customer Centricity Research Report: Target Customer and Experience Analysis

Running head: CUSTOMER CENTRICITY RESEARCH REPORT 1
Tangerine Bank
Customer Centricity Research Report
Student Name
Student Number
Submitted in partial fulfillment of
the requirements for
MGMT223
Customer Centric Strategy
School of Business, Centennial College
Toronto, Ontario
Professor Kerri Shields
28th January, 2019

CUSTOMER CENTRICITY RESEARCH REPORT 2
Target Customer and Customer Experience
(a) Target Customer
Tangerine Bank targets the customers, who look for alternatives from the traditional banking
services. As a matter of specification, the bank achieves accolades and glory by focusing on the
tech savvy customers. Availing the services through mobile applications increases the sales
revenue of the Bank (Ca.reuters.com, 2019). Upon evaluation of the growth areas, it has been
identified that the Bank intends to upgrade the credit card transactions. This indicates the focus
on the customers, who have stable income and lifestyle. Wealth management is one of the other
areas in which the Bank needs to upgrade the standards and quality of services.
The Bank also targets the customers, who can bring prospective referrals. For this, they
receive $150 bonus after signing up into the account. According to the customer satisfaction
surveys, the bank focuses on the ratings for the product offerings. This includes the services of
cheques and savings account, loans and credit cards among others (Ca.reuters.com, 2019). Apart
from this, the Bank targets those customers, who are less acquainted with the financial services.
Typical evidence of this lies in manufacturing more online services like secured payment options
through credit cards.
Mention can be made of the Master Credit Card, which offers money back rewards, which
are automatically deposited in the savings account. As the interest rates are low, therefore, new
clients are attracted. Within this, the selection criteria is contracts, mergers and acquisitions,
which helps in assessing the future position within the competitive ambience of the market
(Ca.reuters.com, 2019).
(b) Customer Experience

CUSTOMER CENTRICITY RESEARCH REPORT 3
According to the results of the customer satisfaction survey, Tangerine tops the list. As a
matter of specification, the bank received highest score in the areas of product, communication,
personal service and self-service. Through the provision of quality services in the form of mobile
applications, the Bank has increased the trafficking of the audience towards the brand image.
According to the revelations of Tangerine.ca, (2019), focusing on customer satisfaction helps the
Bank to enhance the productivity within the financial services. Along with this, low operational
cost is an advantage in terms of achieving loyalty, trust and dependence from the clients.
Countering this, it is the security policies, which assures the clients about the security and
privacy within the investments.
The bank was the first to innovate in terms of Secure Chat, which added flexibility in the
interactions with the associates. Introducing the mobile app services and online discussions
helped the customers to solve the queries regarding the securities in the transactions. Renovation
in the mobile app services is one of the other agents towards attaining satisfaction from the
customers and the clients. Typical examples of this are biometric technologies, which included
EyeVerify and Vocal Passwords (Tangerine.ca, 2019).
24/7 transaction service has provided the customers with the opportunity to gain a hassle
free service anytime, as per their requirements. This has improved the experience, generating an
urge within them for using the services again. GRPS services in the café, pop-up locations and
kiosks is an added advantage in terms of averting the delays in making the transactions and
payments. The customer care executives are always on duty, which assures the customers that
their queries would be valued. The customers are reached through the channels of phone
support, email, Secure Chat, Twitter, official website and others (Tangerine.ca, 2019).

CUSTOMER CENTRICITY RESEARCH REPORT 4
All these initiatives have enabled the bank personnel to adversely influence the
purchasing power and decisions of the customers. Variety within the services help the customers
to concretize their experience towards the financial services.
(2) Customer Service Vision
Tangerine Bank envisions the upgradation of the standards of living for the Canadians
through the means of empowering. As a matter of specification, the bank assists the customers in
making smarter financial decisions, which would improve their quality of life. Through this, the
client experiences are concretized, resulting in generating value for money (Tangerine.ca, 2019).
By practicing Forward Banking, the bank aims to add flexibility into the customer base. Keeping
the promises is one of the important agents for achieving trust, dependence and reliability of the
customers.
Undertaking challenging and enduring tasks creates a positive image in the minds of the
customers. Daring approach in the services acts as an experimentation with its feasibility in
terms of the specific needs of the customers. Introducing quality services on mobile applications
reflects the caring approach towards the convenience of the customers. Involvement of the
shareholders in the decision making process indicates working towards the shared values. 24/7
customer service results in effective delivery of the promises (Tangerine.ca, 2019).
Consciousness and rationality in this direction enhances the stability in the parameter of Public
Relations.
In the process of providing the financial services, the personnel intend to use fair and
transparent means. Adherence to the legislations is an added advantage in terms of averting the