IBM Tealeaf Customer Experience Management Solutions Banking Use Cases and Case Studies

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IBM Tealeaf solutions: Gain a broader vision

Tealeaf Banking Case Studies

The use cases of IBM Tealeaf solutions for the e-business and e-banking teams will be inclusive of all the use cases outlined

below for the Online Marketing and Customer Experience teams. Other use cases include:

Use Case 1: Advanced business impact analysis

Benefits: Quickly compare the business impact (lost revenue) of different site issues to prioritize and drive site improvements

Use Case 2: Advanced segmentation and analysis

Benefits: Better understand complex customer behavior, repeat customer actions, drive site improvements

Use Case 3: Proactively monitor key site processes (e.g., application process)

Benefits: Real-time awareness into abandonment, understand online processes better, prompts action to preserve or improve

success rates, drive site improvements

Use Case 4: Proactively monitor customer experience KPIs (e.g., credit card conversion, site usability, application

performance)

Benefits: Real-time awareness into KPI trends, prompts action to preserve or improve success rates, drive site improvements

Use Case 5: Replay and analyze sessions identified by analytics funnel reports

Benefits: Pivot directly from funnel reports into IBM Tealeaf solutions to view sessions, validate trends (such as application

abandonment), drive site improvements, ultimately improve conversion and retention

Use Case 6: Utilize data gleaned from IBM Tealeaf solutions for multichannel analysis

Benefits: Make more informed cross-channel business decisions

Use Case 7: Proactive re-marketing (email follow-up to impacted customers)

Benefits: Improved customer experience and loyalty, recoup lost revenue

Business Use Cases

Use Case 1: Research (via search and replay) a reported issue, “find and fix”

Benefits: Validates that the problem exists, minimizes time spent reproducing and fixing issue – Forrester

believes the average time reduction to find and fix issues is 60%

Use Case 2: Proactive monitoring of known issues (via Events and Alerts)

Benefits: Real-time awareness into potential customer experience problems, reduces the impact of any

given issue on customer base. (Ultimately, increases conversion or adoption rates, helps recoup otherwise

lost revenue)

Use Case 3: Quantify the business impact of any given issue

Benefits: Prioritize site improvements and better allocate resource based on the magnitude or revenue

impact of the problem

Use Case 1: Resolve customer disputes

Benefits: Accurate and rapid dispute resolution, improved call resolution rates, provide higher touch

customer support, reduces unnecessary escalations

Use Case 2: Preserve records for legal, audit, or compliance purposes

Benefits: Preserves complete and permanent record of customer interactions, faster, more accurate

resolution of customer disputes, provides comprehensive, long-term data for ongoing analysis of potential

fraud and online security violations

Use Case 3: Prevent future fraud by setting up relevant events and alerts

Benefits: Model off of previous fraud attempts to prevents future similar attempts, better understand

fraudulent activity on site, rapid awareness of potentially fraudulent activity

IT Technical Use Cases

Fraud, Legal, and Security Use Cases

Banking Case Studies

Regional US Bank Reduced escalations by 50% and Average Handle Time by

15% Key banking flows were confusing and

presented errors that prevented customers

from successfully completing their

transactions.

Problem

Solution

Tealeaf Impact

Used in the Call Center to quickly resolve

problems related to site issues and by the e-

business team to address issues and

continuously improve site functionality.

Call Deflection- CSR feedback provided input to e-business

to improved site functionality and usability. Efficiency –

Average Handle Time dropped by 40 seconds or 15%.

Effectiveness -50% reduction in escalations resulting in

conversion improvement.

Quicken Loans Mortgage calculator fix leads to $2M in additional annual

revenue Speculated visitors struggled with mortgage rate calculator but couldn’t validate issue.

Discovered back-end system issue wasn’t recognizing use of commas in loan amount field and disqualified loan amounts incorrectly.

Issue resolved with back-end fix, realized over $2M in annualized benefit.

Problem

Solution

Tealeaf Impact

Leading Online Brokerage Discovers problem costing potentially $12M/year in new deposits

Problem

Solution

Tealeaf Impact

Suspected issues within the fund deposit process were impeding new deposits but didn’t have tools to uncover problems.

Tealeaf discovered that a form in the fund deposit process rejected submissions with certain symbols (. , $) making it difficult to complete deposits.

The issue potentially impacted $32,000+ revenue per day or $12M+ per year in new deposits.

Leading Financial Company Identifies Javascript issue costing the business $100k/day in new deposits

Problem

Solution

Tealeaf Impact

Unaware of a client-side technology issue that was impacting new account deposits.

Using Tealeaf UI Capture were able to identify a Javascript error that was preventing new windows from opening on some IE 8 browsers.

Javascript error was costing the company over $100K per day in new account deposits as some customers could not advance through the deposit process.

Top 5 Financial Services Firm Reduces the number of “multi-touch” resolutions

Inbound inquiries to High Net Worth group increased and needed to improve effectiveness without increasing headcount.

Tealeaf visibility greatly increased number of first-contact resolutions resulting in reduction in repeat calls.

Efficiency enabled reallocation of 4 FTEs in Level 1 and Level 2 support to proactive, revenue generating roles.

Problem

Solution

Tealeaf Impact

Leading Financial Institution Improves time for Dev/QA to diagnose issues from days to hours

Problem

Solution

Tealeaf Impact

Difficult to replicate issues by developers that QA Analysts found during testing.

QA test executions captured automatically as Tealeaf sessions and used to communicate defects/failed test cases to developers. Developers were able to replay and diagnose exact failed scenarios in question.

QA Analysts spend less time and effort to document failed test cases and more accurately understand defect scenarios. Time to diagnose and resolve issues were significantly improved.

Education Loan Provider Proactive outreach converts 25% of original application abandoners

Problem

Solution

Tealeaf Impact

Outbound contact center team needed ways to 1) identify customers who started applications but didn’t e-sign or accept loan terms 2) give agents visibility into what customers did before abandoning.

Forwarded list of applicants who abandoned as warm leads for outbound call agents. Agents replayed sessions to get full context of online experiences. Agents also provided real-time assistance by shadow browsing customers during application process.

Of the customers who originally abandoned online, 25% completed their loan applications after being contacted.

Zions Bank Gained insights into mobile user’s behaviors. Increased

completed applications by 72%. Improved response time

by 60+% Launched new mobile banking platform but lacked

insights into users’ reactions. Wanted online application that was easy to navigate Unable to resolve customer issues in a timely manner.

Problem

Solution

Tealeaf Impact

Mobile Web

Gained real-time insights into how users’ behaviors varied by region (mobile and web). Identified, analyzed and addressed issues in online application; streamlined new account processing. Identified and replayed users’ sessions to resolve issues

Immediately changed mobile banking roadmap to reflect users’ behaviors. Gained 72% lift in overall completion rate of online applications. Improved customer support response time by 60-70%

Thank You