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Case Study

TD Ameritrade doubles-down on digital messaging – growing millennial customer base by 35%

  • Expanded and strengthened consumer base through accessible, intelligent technologies
  • Super-charged customer experience through bots, social messengers, and educational content
  • Grew millennial-aged accounts by 35%

"By leveraging technology to break down traditional barriers and meet consumers where they are with relevant education and engaging experiences, we can empower more consumers to take charge of their financial futures."

Vijay Sankaran Chief Information Officer, TD Ameritrade

The Business Issue

With rising demand for exceptional customer experiences, TD Ameritrade (TDA) wanted to leverage new technologies to make investing and trading more engaging and more accessible to consumers. The online broker also wanted to empower customers through easy access to educational content, so they could become confident investors. Engaged, knowledgeable, empowered customers were more likely to become loyal, high-value clients. Likewise, an accessible, intelligent customer experience could attract new clients, particularly a new generation of investors who were keen to adopt new technologies.

The Solution

TDA knew it could better engage its consumer base by meeting them in the spaces where they spent their free time: the digital space and specifically messengers. Messengers also presented opportunities for intelligent services via automated assistants. Customers could use them to access real-time information, research, and educational content. Some messaging apps, such as Facebook Messenger and Apple Business Chat, could even perform financial transactions, which would be a game changer for online investing and trading. TDA was already using the InTheChat digital engagement platform (now Pega Unified Messaging Edition) and knew the platform could deliver on its plan for engaging, intelligent, accessible customer experiences.

The Results

TDA revolutionized the customer experience by:

  • Deploying AI-driven automated assistants on Facebook, Twitter, and Apple Business Chat.

  • Enabling trading via messengers. Customers can also use messengers to make deposits, access quarterly performance video statements, and receive weekly alerts that rehash market moves.

  • Leveraging messengers to provide real-time information, research, and educational content.

Engaging, intelligent services via messengers have also propelled the growth of new investors: Since the launch of these new channels, millennial-aged clients have increased by 35%.

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Challenge: Customer Service Industry: Financial Services Product Area: Customer Service
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