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PegaWorld | 03:51

National Australia Bank keynote highlights from PegaWorld iNspire 2024

Watch highlights from National Australia Bank’s keynote, "Left Brain. Right Brain. Customer Brain.", from PegaWorld iNspire 2024.

Would you mind kind of explaining that, like what you folks do at NAB, like what the customer brain kind of means to you? Yeah. Well, you mentioned relationship banking before, and NAB really prides itself on being a relationship led bank. And so when we talk about relationships, we say, you know, they're kind of personal. They're human. And so, you know, we've been helping people, businesses, communities for 160 years grow, adapt and change and move forward. Really. So you think about customers preferences. A lot of them are shifting to digital.

Our job then is to think, all right, we bring these experiences online. We're creating ease and convenience for customers. But it's an interesting challenge. Like how do you maintain that human relationship and that personal connection? So that's where the customer brain comes into play. And as Christian said on the big screen, it's about using everything that we know about our customers to provide personalized, timely, relevant communications. And that's across all of our channels, you know, inbound, outbound, human, digital. And we're really trying to empower our customers digitally, but also support them personally. Beyond sales, moving into the more empathetic stuff, what kind of difference does that make for you?

Well, as soon as we plugged the brain in, we saw a 40% lift in customer engagement, like 40% , which is absolutely massive for our customers. Right? I think that it shows the fact that we're being more relevant. So it might mean that we actually speak to some of our customers less, but when we do, they can trust that it's going to be with something that's relevant in the moment for their needs. We've got just a wealth of information about our customers, right. And then that's on one hand. And then on the other hand, you look at traditional marketing tools and you segment and you sub segment and you create micro segmentation. You know, you create models trying to predict what a customer is going to do. On the other hand, you've got the data right in front of you.

So you could be missing out on those clues that are right in front of you. So at NAB, we really took our time upfront with the Customer brain program to, you know, I talked about listening to the customers, but through data. What are they telling us? So we looked at Net Promoter Score. We looked at complaints data. We looked at like different journeys where you can see customers were getting stuck along the way. And we used that to prioritize our experiences. So I talk about all that engagement stuff. Let's get the hygiene right, let's get some of those base experiences right, and then we can move on to the engagement.

So at the moment I think we've got about a thousand data attributes feeding the customer brain, just different things that we can see in customer data. And then we've got probably 800 adaptive models running at any point in time. So you're taking the data that we have about the customers, but then you're also listening to how they're interacting and responding in real time to fuel the engine. And just to put that in perspective, when you're talking about 800 adaptive models, a thousand elements, what you're really talking about is machine learning. Looking at the outcomes you want to achieve for each one of those actions and saying, what's the most relevant thing to put in front of a customer right now? And constantly those models adapting themselves as they go. We were with our board recently, and it was Joss and Andy that were coming in, and they were talking about the impact that the brain was having for their business unit, for their customers, for their colleagues. And for me, that was probably the most rewarding thing, being able to see them talk about it. It's not my platform, it's theirs.

I think that's honestly when you know you've kind of made it when you've hit the right note is when you've got your customers up there testifying to your board about how valuable your solution is. That's kind of when you made it a little bit. Right, That's why I'm here, is it not? It probably is, quite honestly.

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