In banking, as in every sector, customers expect instant, informed service via the channels that are most convenient for them. And they expect an omnichannel experience, with their interaction history understood by whomever they’re interacting with—via the web, within a mobile app, or in a branch. This presentation shares the best practices for the banking industry in creating a seamless omnichannel customer experience. Fore more information, visit our website at www.genesys.com
2. A BANKER’S GUIDE TO A SEAMLESS
OMNICHANNEL CUSTOMER EXPERIENCE
In banking, as in every sector, customers expect instant, informed service via the channels that are most convenient for
them at any given moment. And they expect an omnichannel experience, with their interaction history understood by
whomever they’re interacting with—via the web, within a mobile app, or in a branch.
So how do you design an omnichannel customer experience (CX) that can satisfy your customers and increase their
loyalty—one that supports your brand promise and value?
It’s important to start with a vision. For example, would you like to create effortless experiences that are consistent
from mobile phone to web chat to a conversation with a banker? Do you envision creating a 360-degree view of the
customer that allows you to accurately predict their needs?
Once you’ve defined your vision, there are critical steps to consider. Here are key best practices to help you design and
implement seamless omnichannel experiences for your customers.
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3. Design Implementation
Identify your target customer segments
and what matters to each of them
Set the customer journey baseline for
each segment
Prioritize your focus, and map out the ideal
customer journey
Use context and state
Identify the CX and the operational
metrics of success
Adjust the three Rs—resources,
routing, and reporting—to
operationalize the experience
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BEST PRACTICES IN CREATING MEMORABLE
OMNICHANNEL EXPERIENCES
4. MAIN CUSTOMER
CUSTOMER’S CRITICAL NEEDS
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OMNICHANNEL CX DESIGN BEST
PRACTICE #1
Identify Your Target Customer Segments and
What Matters Most to Each of Them
Most banks are interested in providing a level of
service that matches the value of the individual
customer. This holds true not just for the types of
services and products you offer them but for their
overall experience of interacting with your bank.
The first step in designing an excellent omnichannel
CX is to identify different groups of customers in a
way that is meaningful to your business. For a bank,
this might be based on factors such as total assets
on deposit, the number of products they use, the
cost to serve, profits generated, and the length of
the relationship.
Once you have identified the target segments,
you must determine the most important customer
needs for each segment. For example, young
customers with few assets may be interested in
low fees and a robust mobile app. Working- and
middle-class customers may be drawn to “round
up” products that help them save. And the wealthy
may be looking for personalized, integrated services
involving loans, deposits, and financial planning.
Once you’ve determined the critical customer needs
for each segment, you can consider the best way to
meet them.
5. Unacceptable
Minimum Standard
Very Good
Excellent
Extraordinary
Perfection
Emotion
Good
Peak
Peak
Example: Applying for a loan
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OMNICHANNEL CX DESIGN
BEST PRACTICE #2
Set the Current Customer Journey
Baseline for Each Segment
The customer journey is the process your
customer goes through as they interact
with your bank to address their needs.
Since the customer profile (and thus, the
products and services offered) for each
segment is different, the journeys for
every segment will differ as well. As you
begin to set a baseline for each segment,
you need to identify the high points and
the low points along the way. By doing
this, you’re able to define the journey from
the customer’s perspective.
Key Points to Remember:
• Consider the emotional aspects
of what it’s like to be a customer
interacting with your bank.
• Put yourself in the customer’s shoes
by opening a new account, applying
for a loan, using your mobile app, or
seeking financial advice.
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To find the current baseline for the
customer journey in each segment, you
can use tools like voice of the customer
surveys, call recordings, and focus
groups.
Step back and look at the journey. Notice
where you consistently see customer
churn and abandonment—it’s not always
related to your products or brand. Often,
the emotion your customers feel when
interacting with the bank plays a critical
role. So take note of the emotion the
customer will have at the end of their
journey. To leave a lasting impression, end
on a high note.
Memorable experiences foster loyalty.
7. Company Importance
High
High
Low
CustomerImportance
Streamlined
Boarding Process
Provide
In-flight Meal
Unacceptable
Minimum Standard
Very Good
Excellent
Extraordinary
Perfection
Emotion
Good
Peak
Peak
Process Step
Links to
Brand Values
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OMNICHANNEL CX DESIGN BEST PRACTICE #3
Prioritize Where to Focus and Map the Optimal Customer Journey
Determine where you need to focus in order to provide optimal CX. To do this, create a four-quadrant matrix as shown above. Identify
each step in the journey and its importance to you and to the customer.
The upper right quadrant becomes the place where you need to focus most. Use this to map out the improved customer journey,
remembering to keep the emotion of the customer in mind and to align the high points of their journeys to both their needs and your
brand promise.
As you map out these journeys, remember:
1 Don’t try to be all things to all people. You have limited time and resources.
Match the “wow” points of each journey with your brand promise and the
most important customer needs for that segment.
2 Aim to end each journey on a high note.
3 Include an assessment of the communications or touchpoints you have with
your customer as you think about each new journey.
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Add a Touchpoint Dimension
When mapping these journeys, consider
which communication options you
currently offer your target customers and
how those align with what matters most
to them.
For interactions within the journeys,
identify relevant customer channels.
Next, you’ll want to perform a gap analysis
between the current state and optimal
future state of the customer journey.
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Perform a Gap Analysis
As you compare the current-state
customer journey to the future-state
journey, keep these points in mind:
1 If the current-state journey step is a poorer
experience than the future-state journey step,
then you need to assess if the current state is
damaging your brand. If so, you must consider
the business impact this is having on the CX.
2 If the current-state journey step is a more
resource-intensive and high-quality step than
the future-state journey step, and it does not
negatively impact customer needs or brand
value, this may be an area where you are
wasting resources. You could potentially cut
back on the quality of this step.
Next, build an action plan to close the
gaps across people, processes, and
technology. As a part of this, don’t forget
to analyze your competition: See what
it’s like to be their customer so you can
understand how to differentiate your CX
from theirs.
Perform a gap analysis between
current-state and future-state
customer journeys.
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Implementing Your New
Customer Journey
When you have defined your optimal
customer journey, it’s time to think about
implementing it. There are three key best
practices for implementation:
1 Use context.
2 Identify the operational metrics of success.
3 Remember the three Rs when you
operationalize the experience.
12. Customer is Browsing
Company Website
Rules + Content
Online Activity
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OMNICHANNEL CX IMPLEMENTATION
BEST PRACTICE #1
Use Context to Personalize the Web Experience
Consider this example: A customer is browsing
your website. Imagine that you can dynamically
change the website content to personalize the
experience based on the customer’s online activity
context, and whether they’re logged in and
authenticated.
This personalization may include:
• Product and service suggestions offered
in real time, such as loans or private
consultations
• Contact channels enabled or disabled based
on customer value (for example, priority
service or contact numbers for concierge
banking)
• Special offers delivered at different
times and to distinct segments (financial
assessments to high-value customers, for
instance)
This information can then be passed along to the
phone banker when the customer calls in, which
creates a seamless and personalized experience.
13. Speech
IVR
Online
Activity
Callback
Conversation
Manager
Deferred
Interaction
Agent
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Use Context to Manage Cross-Channel
Journeys with Deflection
Deflection is an important component of
an efficient and cost-effective customer
service offering. While you want to provide
excellent service to all customers and
potential customers, well-orchestrated
deflection allows you to escalate critical and
time-sensitive issues and provide exemplary
service to your high-value customers.
For example, a student with few assets
applies online for a free checking account.
After 12 hours, the student calls to check
on the account. He started on the web and
has now crossed over to the voice channel.
A sophisticated IVR is aware of the online
order, so it intercepts the call to provide a
personalized status update about the account.
After hearing the status, the caller may still
wish to speak with a banker. However, due
to the low value of the relationship, the
student is instead offered a callback at a time
convenient for him. The callback will then be
made by a banker who has the relevant skills
and complete context. This not only makes
the customer feel taken care of, it uses bank
resources more efficiently.
14. Metrics
NPS | CES | CSAT
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OMNICHANNEL CX
IMPLEMENTATION BEST
PRACTICE #2
Identify the CX and Operational Metrics
to Measure Success
All CX metrics have their place, so the
one(s) you choose will depend on your
bank’s priorities. Are customer satisfaction
scores important, or does the bank
value its Net Promoter Score more? No
matter which metric you choose, the best
practice is to align day-to-day operational
metrics—such as first call resolution (FCR)
or average handle time—with your key CX
metrics.
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OMNICHANNEL CX
IMPLEMENTATION BEST
PRACTICE #3
Adjust the Three Rs to Operationalize
the Experience
When you take what you have designed,
coupled it with the principles around
context, and adjusted your measurements
to what drives the experiences of your
customers, you’ll then want to tweak the
three Rs: resources, routing, and reporting.
Consider these steps:
1 Modify training and staffing of your resources
to optimize the CX.
2 Adjust intraday and historical metrics for
reporting.
3 Change interaction routing rules using the best
practices shown on the next page.
16. AttachingData
IfTransfer-Repeat
(DataAttached)
FULFILL
ROUTE
ASSESS
ASSESS
IDENTIFY
• Who is the customer?
• Why are they contacting us? What do they need? (Determine reason/intent.)
• What do you need to know about them? (Query relevant history.)
• What segment are they in?
• What is their value to the bank?
• What have they done recently with the bank?
• What is their current satisfaction level?
• Is there any other conversation going on?
• Are there any products or services to offer?
• Are there any activities or transactions yet to be completed?
• Is there a status to provide?
• What is the best resource to handle this request? (Not all inquiries are destined for
banker-assisted support.)
• Are current response times reasonable?
• What resource options are available?
• Have you resolved the request?
• Is there an opportunity to cross-sell/up-sell?
• Do you need to transfer this request to another department or banker?
• Would they like to take a customer satisfaction survey?
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BEST PRACTICES IN DEFINING OMNICHANNEL ROUTING RULES
The Who, What, Where, and “What’s Next” Framework for Determining Omnichannel Routing Rules
17. Routing &
Orchestration
Resource
AgentCustomer
Virtual Callback
Intention Identified
IVR
Intention Target
• Max. Wait Time: Per intention, 99% of calls in a defined period of time
• Intention Target: Route customer intent to target resource (not group/queue)
• Resource: High performance FCR and NPS per intention (optimal and suitable)
• WFM planning on minimum service standards
• Done away with overflow (queue-expand-wait, repeat)
• Done away with intra-day skill changes
Intention Proficiency Performance
• Optimal (Business)
• Suitable (Customer)
• Acceptable (Business)
• e.g., Low NPS results
• Speech
• Customer Identification
• Data (IVR, Info Mart, CRM, History)
• Intention Diagnosis
• Explicit customer needs
• Implied business needs
Customer
IVR
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AN EXAMPLE OF INTENT ROUTING
Here’s an example of how optimizing the three Rs can improve CX and business efficiencies.
A large financial services institution was challenged by repeat callers, who represented 30–40% of all interactions. Upon analysis, the
bank discovered that the routing design was inconsistent with its goal of driving up NPS and improving FCR. They learned that the
biggest cause of low NPS was the tendency for interactions to be bounced all over the place and transferred to bankers with minimal
skills.
Adjusting cross-channel interactions and matching resource availability with customer expectations—while also improving the service
levels—provided a better overall experience. While this change required additional skills training for bankers, it allowed them to become
specialists in certain areas and with specific products. That, in turn, enabled more precise routing of interactions.
As a result, the bank saw an 8% improvement in FCR, an 11% reduction in transfers, and a 2% uptick in NPS—which translated to millions
of dollars in savings and increased employee satisfaction.
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GENESYS DELIVERS A SEAMLESS OMNICHANNEL
CUSTOMER EXPERIENCE
Genesys
PLATFORM
CUSTOMER EXPERIENCE
CLOUD
Voice
IVR
Mobile
App Social
Marketing
Promotion
Contact
Center
Direct to
Expert
Store/
Branch
Back
OfficeWebsite
HYBRID PREMISE
SELF-SERVICE
INBO
UND / OUTBO
UND
BACK OFFICE W
ORKFORCE
19. DELIVER A SEAMLESS OMNICHANNEL
CUSTOMER EXPERIENCE WITH GENESYS
Whether your goal is to improve the CX, reduce customer effort, improve your brand value, or deliver a
fully omnichannel experience, Genesys offers an open and scalable platform that leverages context across
touchpoints and channels over time.
By using the Genesys Customer Experience Platform, companies like yours have achieved impressive
results, such as:
Customer
satisfaction improvement
through consistent
omnichannel interaction
Improvement in resolution
rates due to reduction in
repeat calls interaction
Reduction in transfer rates
and costly misroutes
Improvement in employee
engagement with predictive
models to inform and
personalize interactions
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