Wells Fargo: Personalizing Real-Time Conversations With 70 Million Customers
Analyzed 4 billion digital interactions to identify the “next best conversation” for each individual
Successfully personalized messages and experiences for 70 million customers
Drove a massive increase in customer engagement across channels
“Pega helps us deliver personalized conversations at true enterprise scale – spotting patterns from billions of interactions so the customer gets the right message and the best experience.”
The Business Issue
Wells Fargo Bank is the third largest bank in the world and a key player in the US retail banking market. Like most established banks, they have needed to respond to the growing customer demand for a frictionless experience across touchpoints, and an increased preference for digital channels exacerbated by the pandemic.
With over 70 million customers, they had struggled to personalize their day-to-day engagement, requiring them to connect and analyze billions of digital interactions in real time. They knew that with the right strategy and tools, they could use the resulting insights to ensure each customer received highly relevant messages, at key moments, in their preferred channel.
Wells Fargo installed Pega’s Customer Decision Hub to provide real-time modeling and adaptive machine learning. With the solution in place, the bank can constantly recalculate each individual’s “next best conversation”, while those individuals are interacting in-channel. This not only ensures each customer message is relevant, but it also helps them introduce new, pandemic-influenced conversations that are designed to help struggling customers build financial resilience.
- Next best conversations are constantly delivered into the mobile app and retail branch
- Customer engagement rates increased from 3-10x, depending on the channel and use-case
- Conversion rates increased across channels
- Adaptive modeling and AI continue to learn and help the bank get “smarter” with every interaction
Learn how Wells Fargo is using the power of Pega to make it the most customer-centric bank in the industry.
See why Commonwealth Bank of Australia is exceeding customer expectations with personalized conversations
489% ROI? It's possible. See Forrester's findings on the Total Economic Impact™ (TEI) of the Pega Customer Decision Hub