Delivering exceptional customer experiences is crucial in any industry. However, in some sectors, such as the financial landscape, balancing personalized, streamlined service with compliance and security can be extremely complex.
Often, creating the perfect CX initiative requires companies to do more than simply choose the right technology for their ecosystem. They also need extra help implementing and customizing their tools to suit their needs. Fortunately, when Natwest decided it was time to simplify the mortgage application process for its customers, IBM was on hand to help.
The NatWest group created a powerful new strategy for AI-enhanced service, using the consultation support, BPO services, and technologies of the IBM team.
Creating a Smart Platform for Customer Service
IBM Consulting’s team of dedicated outsourced professionals and technical experts were on-hand to help NatWest when the company decided to upgrade it’s approach to offering mortgage services. With the help of IBM’s team, Natwest built its own AI-powered, cloud-based platform, intended to empower mortgage call center employees with solutions to enrich the customer experience.
The platform, built with BPO support and IBM Watson Assistant technology is called “Marge”, a conversational tool with its own evolving personality. Built directly in the cloud and embedded into NatWest’s existing data structures, Marge has access to a constant stream of data about customers.
For NatWest team members working in the mortgage-focused contact center, Marge has become a single point of access for all forms of crucial data required to make quick financial decisions. According to the Head of HomeBuying Services for the NatWest Group, MaryAnn Fleming, the technology has given team members a new level of confidence and support they never had before. This immediately translates to better, more streamlined experiences for customers too.
Upgrading the Customer Service Strategy
Built with step-by-step guidance and assistance from the IBM outsourced team, the new NatWest platform empowers every employee to deliver the highest level of personalized service to mortgage customers. When in a call with a client, NatWest employees can tap into the platform to get quick, relevant, and personalized mortgage support from the Marge conversational bot.
All users need to do is type a few keywords into a console, and they’ll access all the information they need to guide their customers through the transactional journey. With cognitive enterprise technology available in an instant, staff members can easily support both new and existing customers in the mortgage space. Since implementing the tool, NatWest has seen fantastic results.
The company achieved a rapid 20% improvement in its Net Promoter Score (NPS), one of it’s most important loyalty metrics. The brand also reduced call durations by 10%. As Marge continues to evolve, leveraging machine learning technology, the company believes the platform will offer ever-more impressive support to team members.
Today, Marge is part of NatWest’s continuing strategy to become a data-driven, cognitive enterprise, with the help of IBM’s technology, and expert teams.