Bank uses live chat to increase customer connections
Enhanced engagement and targeting increase online customer acquisition.
For one of the largest retail US bank‑holding companies, customer service is key to lasting relationships. This long‑established bank aims to enable their customers to better manage their finances.
Increase online conversions in major lines of business For one of the largest retail US bank-holding companies, customer service is key to lasting relationships. This long-established bank aims to enable their customers to better manage their finances. In a world of self-sufficiency, consumers want to be in control, and this leading bank understands that. In their effort to give customers the best experience possible, they partnered with Nuance to improve their online customer service, thereby increasing their overall incremental conversions.
The solution Nuance (TouchCommerce at the time) began by implementing live chat into the retail bank’s online acquisitions. Within the first year, for Home Loans applications, chat conversions rose significantly with an 80% satisfaction rate. Soon after, live chat was added to General Banking applications, where 90% of applications completed occurred within the first 24 hours after interacting.
The implementation was so successful, that by 2016 live chat also supported upselling/cross-selling to their existing customers. Interactions increased so much that Nuance suggested they turn more focus to the Millennial audience, who is in the market for educational financing. The two teams worked together to optimize targeting rules for this special sector of applicants.
The partnership between the bank and Nuance has been so fruitful that throughout the years, additional solutions such as automated guides, targeted offers and pre-emptive exit offers were implemented to further enhance the customer experience.
Lasting partnerships get their strength from enduring challenges together. In 2016, the bank began a significant overhaul of their website, and Nuance has been part of the process the entire way. The bank experiences strong chat performance and CSAT, even after the redesign, as we continue to optimize to their new look and enhance customer experience through superior targeting.
The website’s redesign includes making it mobile responsive. This opens the door to implement mobile chat. About 40% of their traffic is on mobile and adding chat to their mobile website is a BIG WIN for the bank (as they consider themselves one of the few and early ones in the industry to have chat on the mobile website (not in-app).