Largest Nationalized Bank in India Revolutionizes Its Customer Services and Achieves Greater Operational Efficiency with Next-Gen Solutions Powered By CRM
EXECUTIVE SUMMARY
The client is one of the largest public sector banks owned by the Government of India which is widely known for its customer centricity. The bank has undergone various phases of its growth trajectory over hundred years of its existence. Over the years, the bank has been scaling up its market position as a major Financial Conglomerate with over 6000 branches and 8500 ATMs spread across 4467 centers. The bank also has offices abroad in London, Hong Kong, Moscow, Shanghai, Dubai, Tanzania, and New York.
As the bank was growing and expanding into new territories, it had to manage a large volume of interactions across various channels. However, it lacked a central system to manage customer issues which was resulting in customer dissatisfaction. The bank turned to Conneqt to provision a comprehensive and integrated centralized CRM for managing the customer service queries, complaints, and requests.
Business Challenges
The bank has always been a frontrunner in deploying latest technology processes to meet its business requirements. However, it was lacking a central system to manage customer issues which could handle large volumes of multi-channel interactions. Here are the key challenges the bank faced:
- Lack of centralized control: There was no centralized control and no system existed which can help the bank in tracking the customer queries/issues/complaints.
- High customer dissatisfaction: The bank was unable to track the number of queries and complaints raised by its customers. It also failed to identify if these issues were resolved within time and on priority. This was leading to high customer dissatisfaction.
- Challenges with customer insight: To improve its services, the bank needed a global application that could provide a 360 degree view of the customers.
Solution Components
- The CRM deployed is integrated with the Telecom platform to provide a seamless experience to the executives handling customer queries being raised over the helpline number.
- The CRM was designed so as to provide a 360 degree view of the customer profile, which greatly helps the helpline agents to answer the query faster.
- The 360 degree view also saves time by not having the agent perform multiple click and browse through multiple windows.
- Extensive MIS reports and dashboards were designed to provide a clear view of cases getting logged.
- The CRM was integrated with SMS and Email Gateways to provide alerts and notification of pending cases which required attention.
Benefits
- 360 degree view of customer profile
- Enhanced customer satisfaction and overall experience Enhanced Efficiency
- Improved Customer retention