Qualtrics (Nasdaq: XM), the leader and creator of the experience management category, today announced that some of the world’s top financial services organizations, including Lloyds Banking Group, M&T Bank and PNC Financial Services Group, selected Qualtrics solutions in the second quarter of 2022 to deliver standout experiences for customers and employees.
“With so much uncertainty around us, it is exciting to see more and more brands use our industry-leading platform to help meet key business challenges, including the need to: improve operational efficiency, drive retention and cross-sell, increase employee engagement and deliver distinct omni-channel experiences that customers and employees have come to expect,” said Dmitry Binkevich, global head of financial services at Qualtrics. "Experience is truly the new competitive advantage across financial services, and it is gratifying and humbling to see so many household names in our industry choose the Qualtrics XM Platform™ to transform experience management to better serve customers and employees through periods of economic tightening and growth alike.”
According to recent Qualtrics research, 65% of financial services customers have had to switch between two to three different channels (live chat, phone, in-person) to resolve their issue. Such high levels of friction push unnecessary cost into operations, at a moment in time when financial institutions are looking for expense reduction and efficiency. At the same time, customers today increasingly expect more ease and greater personalization in their financial relationships, even as they transact across channels to suit their preferences. In the current macroeconomic climate, it is critical that financial institutions are able to understand the drivers of failed customer experiences so they can optimize processes and operate efficiently in a tightly controlled regulatory environment.
The Qualtrics XM Platform already helps over 800 of the world’s leading financial institutions make every customer and employee interaction an opportunity to identify experience gaps across channels. With XM Discover, leaders in financial services can harness unstructured data sources - across emails, complaints, chat logs, speech-to-text, surveys and more - to understand the root causes of customer satisfaction and employee engagement, and automatically recommend actions to drive greater conversion and retention, helping to improve brand loyalty and share of wallet.
In the second quarter, the following financial services organizations chose Qualtrics to create more human-centric experiences that better serve customers and employees:
Lloyds Banking Group (LBG), the largest UK retail and commercial financial services provider, extended its relationship with Qualtrics to improve operational efficiency and help customers facing financial difficulty. With customers facing increases in the cost of living, driving efficiency and having a real-time view of customer challenges will enable LBG to adapt and better serve its customers. LBG will use XM Discover to understand why customers are calling, improve compliance and ultimately offer a better experience to its customers.
As a purpose-driven community bank with approximately 1,000 branches and 22,000 employees, M&T Bank (M&T) knows that listening to employees and empowering them to make a difference in their communities is key to the success of its brand, as it grows and adapts to increasingly digital industry standards. Following its recent acquisition of People’s United Bank, M&T expanded its existing Qualtrics CX program with Qualtrics EX™ solutions. By approaching experience management holistically across customers and employees, M&T aims to better address employee needs so they can continue to focus on delivering exceptional customer service and help their communities thrive.
The PNC Financial Services Group, Inc. (PNC) is one of the largest diversified financial services institutions in the United States, organized around its customers and communities. PNC is building on its storied reputation of delivering exceptional financial experiences by expanding its existing Qualtrics program with both CX and EX solutions to transform and futureproof the bank’s approach to experience management. Recognizing how intertwined customers and employees are to the bank’s outcomes, PNC will use Qualtrics to understand what matters most to its stakeholders to create a high-opportunity workplace that attracts and retains top talent while enabling employees to deepen customer relationships by delivering a superior banking experience and financial solutions.
For more information, visit www.qualtrics.com/financial-services.
Qualtrics, the leader and creator of the experience management category, is changing the way organizations manage and improve the four core experiences of business—customer, employee, product and brand. Over 16,750 organizations around the world use Qualtrics to listen, understand and take action on experience data (X-data™)—the beliefs, emotions and intentions that tell you why things are happening, and what to do about it. The Qualtrics XM Platform is a system of action that helps businesses attract customers who stay longer and buy more, engage employees who build a positive culture, develop breakthrough products people love and build a brand people are passionate about. To learn more, please visit qualtrics.com.