Retail Banking and Card Servicing

Outstanding Customer Experiences at Dramatically Lower Costs

Scott Andrick speaks about the obstacles banks face today around account openings

The Challenge: For banks and credit card servicing organizations, the customer experience continues to be a key driver of customer loyalty, wallet share and profitability. But while delivering the personalized, consistent and rapid service customers demand, these organizations must do so at a cost that benefits the business – a tough task given the myriad of legacy systems, manual processes and disconnected channels that beset most institutions.

Pega overcomes these challenges with a unified solution that makes it easy to deliver customer-centric experiences while wringing inefficiency and cost out of each interaction. Only Pega combines rules-driven processes with holistic case management across all channels, intent-driven guidance and dynamic analytics to transform every aspect of your customer-facing operations. These unique capabilities facilitate truly personalized interactions, fully automate front- to back-office operations and leverage each customer contact as a sales opportunity. With Pega, banks and card servicing organizations can continuously improve the customer experience to achieve the best possible outcome for your customers and your business.

Learn more about Pega solutions for retail banking:

  • Multi-Channel Customer Relationship Management – Whether you need a complete service desktop or want to enhance existing operations, Pega has the answer. Pega’s role-based, integrated desktop enhances the customer experience with relevant, personalized interactions. Pega’s unified solution for managing service inquiries and requests offers quick integration with existing CRM technology to automate process guidance and dynamically manage cases.  And both solutions work across multiple channels, products and lines of business to deliver outstanding service at lower cost.
  • Next Best Action Marketing – Exclusively, Pega combines predictive and adaptive analytics with dynamic propositions that are continuously evaluated and updated during each interaction for highly personalized Next Best Actions or offers that match the customer, situation, channel and business objectives.
  • Retail Account On-Boarding – From point-of-sale to back-office fulfillment, Pega enables a seamless experience with an integrated solution that coordinates interactions across all channels and automatically traverses the gaps between offer, application and fulfillment processes.
  • Automated Dispute and Chargeback Resolution – This powerful solution automates dispute and chargebacks resolution from the point of contact with minimal manual processing or human intervention.

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Customer Success

 

SunTrust Drives Sales with a Streamlined Account Opening Process

Powered by Pega, SunTrust's retail online Sales Application Center has reduced the time to open a new account from 15 days to 15 minutes. New account applications quadrupled, and activation rates increased significantly with 70% of accounts opened representing new business. In the back office, manual processing has been substantially reduced, enabling the bank to redeploy 60% of back-office resources to focus on fall-out management.

 

RBC's Multi-Channel Solution for Inquiry Management Delivers a High-Quality Customer Experience at Lower Cost

Using Pega to create a single system for managing client inquiries across channels and lines of business, Royal Bank of Canada has dramatically improved the quality and efficiency of the bank's inquiry management operations. Time to resolution for basic inquiries has dropped from 5 days to 30 minutes; duplicate requests have been eliminated, leading to a 20% reduction in the volume of requests submitted to the back office; RBC is making better use of resources; and built-in SLAs enable service representatives to make – and keep – service commitments to clients.

 

RBS Delivers Customer Centricity with Pega Next Best Action

Hear from Tim Crick, Head of Customer Contact Architecture at Royal Bank of Scotland (RBS) how the bank leverages Pega decisioning to power its customer-centric strategy. RBS delivers personalized annual summaries of each customer's product holdings that contain up to 20 Next Best Action recommendations tailored to the customer. Pega also generates personalized real-time offers and actions for online banking customers using business-defined and managed rules to support the bank's multi-channel interactions.

TD Visa Reduces Dispute Resolution Time by 70%

TD Visa’s service operation supports multiple cardholder requests, including dispute and fraud claims.  With a new servicing “backbone” driven by Pega, dispute and fraud processes are now far more efficient.  Issues that cannot be resolved at the call center are automatically routed the right staff member along with the appropriate case data, eliminating paper-based processing and manual re-keying.  Full integration with core processing, VISA, and other service fulfillment systems provides complete transparency. Now, 30% of all dispute cases are processed without human intervention, and the average resolution time for disputes routed to back-office personnel has been reduced by over 70%, dropping to an average of just 24 hours as opposed to more than 3 days.

 

A Leading European Bank Turns Service Calls into Sales

One of Europe’s leading banking and investment firms uses Pega Next Best Action Marketing to leverage contact center and online banking customer contacts for sales. The bank systematically presents offers that are tied directly to the purpose of the customer’s call and profile, and now makes more than 100,000 offers per week on inbound calls to the contact center. These dynamic offers have resulted in follow-up meetings that have generated a 30% sales rate for the recommended product and a 70% sales rate for similar products.

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D. Scott Andrick, Industry Principal — Retail Banking

D. Scott Andrick is an Industry Principal at Pegasystems responsible for Card & Retail Banking. He joined Pegasystems/Chordiant in 1998 and has held a variety of roles including Professional Services, Sales Consulting and currently Solutions Marketing. Scott brings over a decade of diverse domestic and international management experience to Pegasystems throughout bank operations including call centers, fraud, disputes and desktop technology. He regularly consults with clients on Next-Best-Action marketing, multi-channel delivery strategies, bridging the front-to-back office service "chasm" and consolidated claims for consumer payments.

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