Case Study | Improving Customer Experience in Private Banking

Client Profile

?A prominent bank in the Western Balkans, catering to hundreds of thousands of customers across the region, faced challenges in optimizing its non-voice customer experience. The bank identified the need to enhance customer satisfaction, streamline processes, and boost efficiency in non-voice interactions, while at the same time increase the customer acquisition rate.

Challenge

The bank encountered difficulties in managing and improving non-voice customer interactions, including data management that leads to the client contract processing in the B2B and B2C domain. The existing system struggled to meet customer expectations, leading to lower Customer Satisfaction (CSAT) scores and an increased number of complaints.

Objective:

The primary goal was to elevate non-voice customer interactions, improve CSAT scores, and streamline communication channels. The bank aimed to achieve a 25% increase in CSAT within a defined timeframe of the first 6 months.

Solution:

The bank partnered with SPEEEX CX Services, a leading provider of advanced customer experience solutions. SPEEEX implemented a multi-faceted approach to address the challenges of the data management. In turn, the optimized workflows led to reduced processing times and lower operational costs, allowing financial advisors to dedicate more time to customer interactions and value-added services. As?a result, the client witnessed?significant improvement in customer satisfaction. The positive word-of-mouth quickly spread, leading towards a?double-digit increase in new customer acquisition

1. 25% Increase in CSAT: The bank achieved its primary objective of a 25% increase in CSAT scores. Customers reported higher satisfaction levels with the improved responsiveness and accuracy of non-voice interactions.
2. Reduced Response Times: Automation and intelligent routing of queries led to a substantial reduction in response times for both chat and email interactions, contributing to an overall smoother customer experience.
3. Streamlined Processes: The integration of SPEEEX's solutions streamlined internal processes, allowing the bank's customer support team to handle a higher volume of inquiries without sacrificing quality.
4. Enhanced Customer Journey: Omnichannel integration and NLP capabilities significantly improved the overall customer journey, with customers praising the seamless transition between different communication channels.

Conclusion: Through the strategic implementation of SPEEEX CX Services, the leading bank in the Western Balkans successfully optimized its non-voice customer experience. The collaboration resulted in a substantial increase in CSAT scores, improved efficiency, and a more seamless customer journey. SPEEEX's advanced solutions positioned the bank as a customer-centric institution, setting new standards for customer experience in the financial sector.