Simultaneously improving CSAT and profit in a retail banking organization

Abstract

Customer satisfaction (CSAT) is the key driver for retention and growth in retail banking and several techniques have been applied by banks to achieve this. For instance, banks in emerging markets with high footfall in branches have gone beyond the traditional approach of segmenting customers and services to optimizing the wait time for customers visiting the bank's branch. While this approach has significantly improved service quality, it has also added a new dimension in the service quality metric :- pro-actively identify and address customer needs for (i) efficient banking experience and (ii) enhancing profit by selling additional services to existing customer. In this paper we present a system that addresses the challenge involved in providing better service to retail banking customer while ensuring that a larger share of customer's wallet comes to the branch. We do this by combining predictive analytics, scheduling and process optimization techniques. © 2011 ACM.