The latest Qualtrics CX platform designed for banking customers offers real-time dashboards that include data analysis, text analysis, and benchmarks for more comprehensive customer experience (CX) data.
Experience Management company Qualtrics announced in December 2022 that its Qualtrics XM Platform has reached 10 billion Experience iDs, positioning the company as the provider of the largest human sentiment database in the world. Leveraging sophisticated AI technology, Experience iD (XiD) provides customer experience data that offers organizations unmatched insights to help them act and improve customer experiences.
Fast forward to today, the leader and creator of the experience management category continue to deepen its CX capabilities, specifically, in the banking sector. The newly launched Retail Banking Accelerator is created to help banks and credit unions easily adopt the Qualtrics Foundational Customer Experience (CX) solution, which offers an executive summary dashboard, relationship survey, and dashboard as well as web persistence survey and dashboard, among many others.
Dmitry Binkevich, global head of Financial Services at Qualtrics, shared that some of the pain-points recognized by banking organizations when implementing CX initiatives are cost, longer duration as expected, and limited internal resources and competencies. He said:
We listened and we’ve launched the Retail Banking Accelerator to enable a smooth implementation, easy rollout, and shorter time to value. All of this ultimately means a higher, faster return on the CX investment for our banking and credit union clients.”
Bespoke Qualtrics CX Platform for Banking
More than ever, delivering exceptional customer and employee experiences to help build trust, loyalty, and, essentially, business outcomes have been critical for financial services organizations. A Qualtrics research revealed that the majority (63%) of global banking executives agree that improving CX is one of their topmost priorities.
The SAP-owned company had earlier shared that more than 1,400 financial services organizations are trusting Qualtrics to help them provide unparalleled experiences to boost business results. Some of the financial organizations that have deployed Qualtrics CX solutions in the last quarter of 2022 are Farmers Insurance and Principal Financial Group®.
“What’s becoming clear to us is that, increasingly, experience is the basis of competition in financial services,” Binkevich commented earlier. “In order to set themselves apart, financial services leaders are partnering with Qualtrics to deeply understand their customers and employees, and to consistently deliver contextual, empathetic, and effortless experiences across product lines, channels, and interactions.”
Today, the Retail Banking Accelerator solution marks another Qualtrics innovation to help advance the banking sector’s experience management journey. Currently made available in the U.S. and Canada, with additional markets including the U.K. to be announced soon, the platform helps financial companies accelerate their CX management initiatives at a low fixed cost, allowing them to focus on gathering customer experience data in no time.
The accelerator offers:
- Increased speed-to-insight by having pre-built surveys, dashboards, and workflows
- Certified questions designed by Qualtrics XM Scientists and have been tested over time together with an expert-backed platform configuration that follows Qualtrics’ best practices and methodologies
- A Qualtrics-certified partner to configure and implement the solution according to cost and timeframe
- Comprehensive industry-based benchmarks (such as NPS and CSAT benchmarks)
- A packaged accelerator solution with no modifications offered at a fixed price for the software and, separately, a fixed price for the partner implementation
This week, Qualtrics is finally bringing back the world’s biggest event for experience management professionals, X4™: The Experience Management Summit, on March 7-9 at the Salt Palace Convention Center in Salt Lake City.
