Initiation

Natural tsunami: A large and sudden undersea disturbance, most frequently an earthquake, generates a series of long ocean waves.
CU tsunami: A shock event like a core conversion, merger, or the introduction of a new banking channel generates a rise in dissatisfaction, friction and ultimately member attrition.

Split

Natural tsunami: The initial series of waves divides, with one group radiating out into the deep ocean and another travelling toward nearby land.
CU tsunami: Some areas of your organization will be impacted more directly or severely than others by the shock event. The front lines, for example, will bear the brunt of your members' initial reaction. You must allocate resources to counter the effects. But you need sound intel to get to the root of the problem and determine where your efforts will have the most beneficial results.

Amplification

Natural tsunami: Wave height increases, along with the distance between wave crests as they travel toward land. The leading wave becomes steep.
CU tsunami: With fluctuations in consumer tolerance, a little problem can quickly grow into a major issue. As consumers migrate to digital, your online banking and mobile app need to provide an experience consistent with your other delivery channels. One bad experience – e.g., being stuck on hold indefinitely with the call center – can be shared with many other consumers very quickly through social media, triggering a disproportionate impact on your reputation.

Run-up:

Natural tsunami: A peak of the tsunami hits, inundating the shore above sea level. A larger tsunami may come onshore like a fast-rising flood or a wall of turbulent water; it can flood low-lying coastal areas more than a mile inland.
CU tsunami: The effects of the triggering event – member attrition, employee turnover – are felt throughout your organization, to a degree and duration determined by your foresight, preparation and resilience. Your frontline employees may be overwhelmed without proper resources and supporting infrastructure.

It can be difficult to predict when and where a threat will arise. There is often little surface evidence early on, so it takes specialized, sensitive equipment to detect the little rumbles that may precede a large-scale disaster.

Instant Insights /

Conquering the Next Banking Tsunami: An Early Warning System Against CX Disasters

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