CASE STUDY

Sentiment Analysis: Improving Customer Experience for a leading BFSI Sector Major

Jul 20, 2018

What the Client Wanted

A leading BFSI sector client wanted to understand the customer perception toward their products and accordingly develop robust strategies to respond to improve customer experience.

The Outcome

Proactively gained insights into the customer attitudes. This further helped them improve customer experience and sales numbers.

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Summary of the Global BFSI Sector

The BFSI sector is undergoing a period of major turmoil and restoring customer confidence, badly shaken during the financial crisis, has emerged as a crucial priority. More assertive customers are progressively demanding a higher quality of services and ease of use from their banking corporations. In addition, evolving regulatory reforms around risk management and capital also need to be addressed. Moreover, the damage suffered during the financial crisis has turned the improvement of operational efficiency into a strategic necessity. Addressing issues such as aging technology, low efficiency of existing channels, the existence of complex processes, and high operating costs has become an immediate priority for the players in the BFSI sector.

Furthermore, the importance of technology in enabling the BFSI sector to deal with changing customer demands, enhance regulatory compliance, and improve operational efficiency is increasingly recognized by banking corporations across the globe.

BFSI Sector Challenges

Consumer expectations: Today, its all about the customer experience, and many companies in the BFSI sector are feeling pressure as they are not delivering the level of service that consumers are demanding, especially with regards to technology.

Regulatory pressures: Regulatory requirements across the globe continue to increase, and BFSI sector players need to spend a large part of their discretionary budget on being compliant, and on building systems and processes to keep up with the escalating requirements.

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About the Client

The client is an American multinational BFSI company headquartered in the US, with central offices spread throughout the country. 

Client’s Challenge

The BFSI sector major was facing predicaments in understanding the opinion of the customers and evaluating the opinion and attitude of their end-user segments. As a result, the client wanted to understand the customer perception toward their products and accordingly develop robust strategies to respond to improve the overall customer experience. Additionally, the primary aim of the BFSI sector client was to develop a proactive engagement strategy to monitor interactions between the client and the company.

Summary of our Sentiment Analysis Engagement

To gain in-depth insights into our sentiment analysis engagement, request more information.

Business Impact

With the help of Quantzig’s sentiment analysis engagement, the BFSI sector client proactively gained insights into the customer attitudes about their brand. The client also increased their focus on identifying feedback sources to define new targets and pursue the most promising opportunities across the sector. Furthermore, the BFSI sector client increased their focus on expressing the emotions of the client through social media platforms. This helped them improve customer experience and their competitive position.

Sentiment Analysis Solution Insights

Quantzig’s sentiment analysis solutions help companies in the BFSI sector to refine their business models and design tailored marketing campaigns to evaluate the perception of customers around their activities. The solutions also help companies to actively combine the information from social networking sites and identify new target segments. Furthermore, companies can benchmark their performance against their peers in the BFSI sector.

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