Swedbank increases positive customer interactions by 200%

“We’re transforming the way we communicate with customers. Going from what we want to say, to what they want to know. From one message fits all, to one message fits one. To make it happen, we rely on people and data, and the people who know data.”

The Business Issue

Swedbank is a well-capitalized, 200-year-old financial institution with 285 branches across 4 countries. The bank initially started its journey by encouraging customers to save in hopes of creating a more stable long-term economy. Over the past two years, Swedbank has charted a course of transforming the business from a traditional bank with physical locations, to a digital bank with set meeting points to better serve customers.

To compete in today’s banking market, Swedbank knew it needed to deliver the advisory-level customer service of traditional banks paired with the modern digital experiences of today’s leading financial services providers.

Swedbank’s goal was to reduce complexity in its existing customer engagement strategy and shift customer interactions from traditional segment-based, push marketing campaigns, to more robust, customer-centric, one-to-one experiences.

Swedbank identified that to reach their goal, they had to organize their business around omni-channel customer journeys, enable flexible personalization with adaptive models, enrich messaging across all content types, and build simpler business workflows.

The Solution

Swedbank turned to Pega’s Customer Decision Hub™ to aggregate and analyze data, generate customer insights, and action on those insights in real time using artificial intelligence and machine learning.

The Swedbank team built smart content solutions that enabled saleable personalization utilizing their previous customer interactions. These solutions ensured that engagements balanced customer interest and business value.

The Results

Swedbank has increased reach, relevance, and proactivity in its customers’ experiences resulting in:

• Over 300 customer offers live, reaching 95% of active customers on a regular basis without manual intervention
• Delivered over 200% increase in proactive unique next-best-actions year over year
• Increased volume of positive customer interactions by more than 200% in 2020 (compared to 2019)

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