A Leader in Banking

A national bank that constitutes the consumer and commercial banking subsidiary of a multinational banking corporation offering more than 5,000 branches and 16,000 ATM’s nationwide. has over 250,000 employees and operates in more than 100 countries. with assets of approximately $2.6 trillion.

The bank wanted to completely redesign and rebuild their sales and marketing website, and their customer online self-service platform. The vision was to create a state of the art online service experience providing consistent processes, user experiences, and a single unified application to support both online and mobile platforms. Their hopes were that this would allow the bank to reduce servicing costs and enhance the customer experience, as well as bring consistency across consumer-facing applications, achieving an Omni channel view.

The existing platform had a number of drawbacks including the following:

• Multiple applications and platforms for different servicing channels, increasing service costs and creating an inconsistent customer experience.
• Lack of a 360-degree view of customer interaction on the servicing channels to better understands customer issues.
• Limited proficiency to explore the capabilities of self-servicing channels to improve customer experience, provide immediate access to various servicing functions, and track customer issues effectively in order to define next best actions for sales and marketing

The bank engaged Akvarr to design and improve the sales and marketing platform. The objective was to make it the foundation for Omni channel servicing and provide advanced analytics for “next best action”. The bank describes the philosophy as “Anticipating the customer needs and exceeding the customer expectation throughout the customer interaction process across all channels”. Akvarr’s partnership allowed the Bank to craft a 360-degree view and leveraged a responsive web application to enable complete parity across all touch points.

Thanks to Akvarr, the bank saw numerous benefits such as:

• A single platform for providing users the ability to self-serve needs across all service channels.
• The core product was redesigned to provide the agility to address evolving market needs.
• Enhanced security with multifactor authentication and reduced errors in processing servicing requests.
• The ability to view the customer’s past and current interactions, enabling proactive follow-up and enhanced feedback.

These benefits enabled the bank to improve self-service usage by 34 %, decrease customer touch points for single issue or case by 7%, and decrease branch service channel usage by 45%.