Clarabridge announced the first-ever full-service solution designed specifically for the retail banking industry. This new offering will help companies easily collect customer feedback for a better, more accurate understanding of the complete customer journey. In-depth insight allows companies to reduce customer churn, streamline operations and increase revenue with a unified snapshot of customers’ needs.
Clarabridge’s tailored industry solution empowers banks with dashboards customized to the unique workflow of the industry and comes ready to use.
Real-time responses to customer complaints or questions are now table stakes in today’s increasingly on-demand society. Despite many banks recognizing a need for improved customer service, most continue to fall short. Clarabridge research has revealed at least 35% of customer service requests tweeted at banks go unresolved and social media is just one of the many touchpoints banks need to listen and react to. These institutions are unable to manage the mountains of feedback shared across channels in an efficient and cost-effective manner. By collecting feedback across the spectrum of banking customer touchpoints––including surveys, call transcripts, online review sites, complaint files and more––Clarabridge’s solution enables both consumers and banks to experience more effective and meaningful communication.
Based on Clarabridge’s experience working with more than 40 brand leaders in the retail banking space, the comprehensive solution allows for banks to deliver a flawless customer experience. Features available to financial services companies include:
Omni-channel feedback integration: Consolidating feedback from all retail banking customer touchpoints––online, in-branch and mobile––into dashboards tailored to user needs helps banks easily identify and resolve pain points within the customer journey. In return, customers are happier and more loyal, reducing customer churn and increasing the bottom line.
Enhanced Natural Language Processing (NLP) capabilities: Best-in-class speech-to-text transcription features and new category models featuring natural language processing and sentiment logic tuned for retail banking enable executives to efficiently evaluate employees’ call center interactions, guaranteeing CFPB, OCC, FDIC regulation compliance. Knowing why customers seek support through the contact center and working to meet and exceed their expectations fosters loyalty and trust that pays dividends.
Better personalized customer care: Advanced capability to segment feedback by demographic allows banks to understand who their customers are and their individual needs in order to provide tailored customer service experiences. With this information, banks can personalize surveys and communication methods to improve Net Promoter Score (NPS) and drive long-term customer loyalty.
Immediate, timely social customer service: Understanding customer feedback shared across social channels and addressing their questions and concerns as they come in allows banks to interact with a digitally-savvy population, helping to build mutually beneficial relationships and secure lifelong brand advocates.
“The retail banking industry is changing at a rapid pace, and cookie cutter customer service simply doesn’t do the trick anymore,” said Julie Miller, VP of Product Marketing at Clarabridge. “As this generation of digital natives gains more spending power, retail banks need to be easily accessible and delivering a seamless experience across all touchpoints or risk leaving money on the table. At Clarabridge, we’ve built a solution that allows banks to capture and respond to feedback in a timely and cost effective manner, while illuminating ever-evolving customer perspectives in an industry ruled by long-term loyalty and customer referrals.”