Isbank has invested in a data analytics and action platform to create seamless customer journeys through its touchpoints. H. Mete Güneş, Isbank’s Digital Banking Division Head, explains the benefits of working with Commencis and how the bank has been able to successfully improve its customer experience.
Turkey’s largest private bank, Isbank, has decided to work with Commencis and its enterprise-level Big Data analytics and engagement platform, Dataroid, to have a better understanding of user behaviour across digital channels and improve the customer experience.
Dataroid helps enterprises to enhance every individual customer experience through deep customer insight, data science modelling and omnichannel customer engagement. Isbank uses the Dataroid platform to gain real-time visibility of customer journeys, gather customer intelligence and take real-time actions.
“Our priority is to deliver a seamless and secure customer experience in all touchpoints by using the latest digital technologies and analytical methods with an innovative mindset,” said Yalcın Sezen, Deputy Chief Executive Officer at Isbank. “With this priority in mind, we are trying our best to take advantage of Artificial Intelligence (AI) and advanced data analytic models to offer a personalised experience to our customers at the right time with the right content.
“With the Dataroid platform offered by Commencis, we obtain insights on digital user experience derived from real-time analyses based on behavioural data. With Dataroid, we have analysed the journey of 9 million unique digital customers in the last one-and-a-half-year period. Since the past year, we have created more than 20 million interactions with over 100 contextual action simulations. Using these interactions, we offer our customers a seamless customer experience by meeting their expectations immediately and creating fast solutions to their problems.”
The Dataroid platform is already used by medium to very large enterprises in financial services, airlines and retail to reshape the experience of over 25 million users.
We asked H. Mete Güneş, Isbank’s Digital Banking Division Head, some further questions about the technology implementation and the benefits it has brought to the business.
Can you tell us why you decided to work with Commencis as the technology vendor?
Isbank has been cooperating with Commencis for enhancing its digital assets for almost 15 years. Therefore, Commencis is familiar with Isbank’s operational and technological requirements. It was efficient and practical to integrate the Dataroid platform into Isbank’s technological infrastructure.
Moreover, the analytics platform was specifically tailor-made for Isbank, in which its features were customised to the needs of the bank.
The technology behind the Dataroid platform met the requirements of the data analytics platform that Isbank required. The technology enabled us to collect and handle Big Data, to gain meaningful insight about the customer journeys and mitigate any inconveniences for the customer.
As Turkey’s largest private bank, how important is understanding your customers?
Isbank has always been a pioneer in shaping customer experience by adopting new technologies. Our main priority is to convey the best customer experience and enhance the customer journey with advanced technologies.
By understanding its customers, Isbank is not only in a better position to cater to their needs and expectations, but is also able to proactively anticipate their future requirements and behaviours. The process of understanding customers begins with active listening and remaining aware of what customers wish to convey when interacting with Isbank. The better Isbank is able to get a grip on customer needs and expectations, the higher probability of gaining their loyalty and receiving word-of-mouth recommendation.
Therefore, Isbank decided to invest in a data analytics and action platform so that it can create seamless customer journeys through its touchpoints.
What business challenges were you looking to address ahead of working with Commencis?
Isbank is one of the largest financial institutions in Turkey, its mobile applications have more than 2.5 million daily active users. Use of the huge data size and complexity of the Big Data of all digital interactions of our customers is a serious challenge. There are technical and regulatory dependencies for collecting and processing this data.
Isbank needed to build the ability to generate, aggregate and analyse the data and take relevant real-time actions based on data. Working with Commencis resulted by developing analytics to understand customer behaviours across multiple digital channels and various touchpoints; analysing full customer journeys within the digital channels and providing a seamless customer journey experience; real-time customer segmentation and offering a personalised experience for each customer.
How has the customer experience been transformed since using Commencis’ Dataroid platform?
We’ve improved the customer experience with the adoption of the Analytics and Action Platform through various skills:
· Analysing customer journeys
· Examining errors taken in digital channels and taking relevant actions
· Creating real-time contextual message scenarios
· Producing solutions with instant actions
As a result of analysing customer journeys, Isbank discovers current conversion rates and current drop-off rates for critical customer journeys. Every stage in the journey is analysed and relevant actions are taken to the drop-off before they make it to the next step.
The ability to take action after errors created a chance to offer a hand to customers who faced an obstacle using the digital channels. Customers are guided to take the right step to finish their job. For example, if critical customer information is missed which leads to failure at the stage of loan application, Dataroid offers the customer the chance to update critical information and to continue the loan application journey.
By creating real-time contextual message scenarios, Isbank is able to deliver instant and personalised customer experiences by creating in-app messages based on real-time behaviour through digital platforms. We can track 10 million digital channel users’ information. Over 200 million sessions are monitored and more than 10 billion actions of users are recorded. Over 100 different contextual in-app messages are created so far and the number of interactions of mobile users has reached 20 million.
Isbank analysed critical customer journeys and created over 38 million interactions with 100 contextual action scenarios. As a result of these interactions, we have successfully completed 500,000 product applications on digital channels without requiring physical contact. Also, more than 1 million informative in-app scenarios are created to inform targeted customers and direct their journeys seamlessly.
How do you plan to use Artificial Intelligence and advanced data analytic models to offer your customers a more personalised experience?
Latest technologies in advanced data analytics such as Big Data and Artificial Intelligence have an enormous impact in changing the operations in businesses. Therefore, we aim to use these technological developments to enrich our customers’ experience. With the real-time nature of the platform, all user interactions are monitored and customer experiences are enhanced by creating contextual scenarios.
By implementing AI capabilities, Big Data flowing from the platform will be used to create deep customer segmentation, to implement customer churn and satisfaction estimation models.
How do you ensure you remain competitive in the Turkish market in terms of the services you offer?
Financial institutes prioritise the need to understand customer requirements and expectations, identify customers at risk and implement measures to prevent user detection and reduce churn. With the increase in customer expectations through the use of mobile applications, banks should provide a wide range of functions and closely monitor customer behavior. This sparks a need to develop a platform to provide deep customer insight, offer personalised products and create a seamless customer journey. The platform enabled us to keep up with the change of mobile users and operate with a strong competitive advantage among our competitors.
How do you plan to progress and scale in the future?
Dataroid, provides customer journey analysis, real-time in-app messages, unified customer data and uninstallation analysis. We are in the process of improving the features to have a deeper analysis and to develop new critical features.
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