It is easier than ever for customers to switch banks when they feel poorly treated. Improving customer experience (CX) can create loyalty and yield real revenue growth. Even moderate investments in customer experience can pay off, with average annual revenue increases of $852 million over 3 years for large banks*.
CX leaders in the banking industry are using customer experience as a key differentiator. With Clarabridge, they consolidate and analyze all customer feedback: surveys, call center interactions, complaint files, online reviews and more. Insights from Clarabridge help banks tailor products and services, personalize customer experience, and optimize the customer journey across all channels.
*TemkinGroup Insight Report: “ROI of Customer Experience, 2016”
Understand and fix the causes of churn and low sentiment across demographics. Achieve better results in NPS and other consumer satisfaction surveys by personalizing customer interactions across all touch points.
Make it easier for customers to raise issues and receive fair and timely resolution. Empower bank supervisors to drill into root cause and resolve Matters Requiring Attention (MRAs). Identify employee fraudulent behavior in recorded customer interactions. Avoid fines and stay compliant with CFPB, OCC, FDIC regulatory requirements.
Aggregate all sources of feedback to eliminate silos, rationalize terminology to facilitate analyses, improve surveys, and achieve a single source of truth for better insight.
Develop a real understanding of concerns across account types and demographics. Balance cost and feasibility of CX improvements against customer expectations and competitor benchmarks.