Press release

Bain & Company’s “NPS Prism” launches in Hong Kong to help HK banking industry meet customer centricity demand

Bain & Company’s “NPS Prism” launches in Hong Kong to help HK banking industry meet customer centricity demand

Expansion into the Hong Kong market will help companies to address changing customer needs and understand emerging areas of differentiation across competitors

  • November 16, 2020
  • min read

Press release

Bain & Company’s “NPS Prism” launches in Hong Kong to help HK banking industry meet customer centricity demand

Hong Kong – November 16, 2020 – Bain & Company today announced that they have officially launched their “NPS Prism” product into the Hong Kong market, aimed at helping companies drive meaningful customer experience changes in their businesses.

NPS Prism for HK Banking was launched in response to demand from major players in the market to become more customer-centric in light of demand for deeper insights into customer experiences, as well as the rise in virtual banking, which is transforming CX in the banking sector. The role of virtual banking in CX is rising further in importance as the banking industry experiences changing customer perceptions and behaviors during the COVID-19 crisis, with a shift from physical branches and payment methods to digital options. After its launch year, NPS Prism for HK Banking customer data will be updated quarterly, allowing clients to monitor the real-time impact of COVID-19 on customers’ banking experience.

“The overwhelming response and feedback we’ve heard from companies across the board has been very positive, especially in the banking sector. So we felt that now was the right time to launch in Hong Kong, to help our customers there identify the areas where improvements are crucial and to help them provide superior customer experiences,” said Priscilla Dell'Orto, a Bain & Company partner in their Hong Kong office. “The market in Hong Kong and our customers have been going through a period of immense change and so have had to evolve their ways of working as a result. NPS Prism will be able to help them gain the deep insights that they need in order to meet these changing expectations and to build customer loyalty.”

NPS Prism helps clients drive actionable customer insights on a product and episode level, including operational and channel-related drivers, as well as customer verbatims to understand the voice of the customer. Through a customer study and interactive data dashboards tailored to the unique needs of the HK Banking industry, NPS Prism allows clients to understand which customer episodes matter most, how they compare to the competition, and what their priority improvements are in customer experience.

NPS Prism for HK Banking also includes deep dives into how virtual banks will impact the customer experience in the HK banking market and looks at the key reasons to go virtual. This includes factors such as better user experience, lower fees, higher interest rates for saving/lower rates for loans, and innovation. Of the customers Bain recently surveyed, approximately one third reported that they were either ‘likely’ or ‘highly likely’ to go virtual when the service was available to them, indicating the high desire for online banking products in the market. 

Currently, the NPS Prism for Consumer Banking tool is also live in the United States, UK, Canada, Thailand, Mexico, and Brazil, with plans for further expansion throughout APAC and other geographies in 2021. NPS Prism is available for other industries throughout APAC, as well as other geographies globally.

# # #

About Bain & Company

Bain & Company is a global consultancy that helps the world’s most ambitious change makers define the future.

Across 65 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today’s urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a platinum rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 1% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry. 

Net Promoter®, NPS®, NPS Prism®, and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., NICE Systems, Inc., and Fred Reichheld. Net Promoter Score℠ and Net Promoter System℠ are service marks of Bain & Company, Inc., NICE Systems, Inc., and Fred Reichheld.