BFSI Sector Overview
Today, customers are more demanding and are looking for faster, easier, and more intuitive ways of engaging with banks. Also, with the shift toward service-oriented space, renowned companies in the BFSI sector are looking to better align with the customers to deliver better customer experiences. To effectively manage customer data and streamline workflow efficiencies, leading firms in the BFSI sector are including channel optimization techniques as a part of their business process. In the BFSI sector, channel optimization can be leveraged to determine current customers and maximize profitability. Since channels are slowly emerging as a part of the banking activities, leveraging channel optimization solutions can further assist organizations to manage their channels more effectively and offer enhanced, effective, and seamless banking experiences. Also, through an effective channel optimization strategy, firms in the BFSI sector can analyze data and discover meaningful patterns to make informed business decisions. Furthermore, renowned firms in the BFSI sector can accurately predict the chance of customer’s channel transition and direct the customers toward the right channel to maximize profits and customer satisfaction.
To garner information on customer behavior patterns and nurture the most profitable customers, renowned firms in the BFSI sector are approaching companies like Quantzig. With years of expertise in offering a plethora of services, Quantzig’s channel optimization solution helps companies in the banking sector accurately profile the customers based on their channel preferences and improve their overall customer lifetime value.
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The Business Challenge
A renowned client in the BFSI sector with a considerable number of service offerings spread across the globe was facing certain predicaments designing collaborative channels and promoting multi-channel engagements. The client wanted to identify the channel usage pattern and devise a robust channel optimization strategy to maintain optimal performance at each customer checkpoint. With the help of channel optimization, the BFSI sector client further wanted to understand the current trends and anticipate future customer behavior.
Benefits of Channel Optimization Solution
The channel optimization solution offered by Quantzig helped the client in the BFSI sector gain a better understanding of specific customer segments and identify opportunities for workforce interaction. Moreover, the engagement helped the client seek ways to offer optimal customer service experiences. In the BFSI sector, the engagement further assisted the client to reduce wait times and reroutes and serve customers more efficiently.
Speak with our analytics experts today to know about customer analytics and how it helps in understanding customer behavior, identify friction points, enabling organizations to prioritize key drivers of customer satisfaction and loyalty.
Channel Optimization Predictive Insights
- Improved customer retention by 15% and enhanced customer loyalty and satisfaction
- Efficiently exploited the use of social media platforms to reach out to the customers
- Offered enhanced, effective, and seamless banking experience to the customers
- Effectively kept track of the customers in terms of their channel usage, customer predisposition, and customer behavior