What HDFC Bank did to create seamless online and offline experiences for its customers?
Acquiring digital capabilities is the topmost priority for all major retail banks today, as they battle for customer attention in an increasingly competitive and fast-paced banking landscape. Banks are facing an urgent need to integrate digital channels with traditional branches to offer seamless customer experiences to customers anytime, anywhere.
HDFC Bank was facing a similar need. With more than 4000 branches and over six million customers spread over multiple channels – HDFC Mobile app, Net banking, Phone banking and traditional branches, integrating customer data looked like an uphill task.
HDFC’s challenge was to offer a seamless customer experience across every channel, be it offline or online. The bank also wanted to create a dynamic feedback management platform that would support customer-centric business decisions.
“The Bank wanted to track their customer’s experience with their brand and various product offerings, across all channels of interaction. With the advent of digital banking practices, we were faced with the task of creating a seamless, omni-channel system that allowed them to capture customer experience data across every channel, and have this stored in one single location for view, analysis and dissemination,” said, the HDFC Bank spokesperson.
The in-house feedback system didn’t meet HDFC’s growing digital demands
HDFC Bank was relying on an in-house system to capture feedback and experiential data. “The only major drawback with the system was that it worked well for the offline channels, but did not completely address the growing need to capture online customer experiences,” added, the spokesperson.
The bank was facing a pressing need to streamline processes and integrate disparate customer data spread across various channels to get a single, unified view of the customer. This was not possible with the previous system.
The CloudCherry Solution
HDFC Bank was looking for a solution that could help streamline the feedback collection process across verticals.
For faster decision making, data needs to be accessible to different stakeholders. So, the bank needed a solution that enabled every stakeholder across the organization, from top management to mid-level managers to have access to this data in a simple and actionable format.
To resolve these challenges, HDFC opted for CloudCherry‘s Customer Experience Management platform which collects customer feedback across multiple channels including Website, netbanking & email – for multiple triggers points including Rural Customer transactions, Post transaction on Netbanking, Promotional campaigns, SmartBuy and so on. Additionally, the CEM platform also runs Internal HR feedback through Email.
“With CloudCherry, not only did HDFC Bank find these needs solved, but additionally discovered that they will be able to create a complete Customer Experience Management process,” said, Vinod Muthukrishnan, Co-Founder & CEO, Cloudcherry.
CloudCherry has currently been rolled out by HDFC Bank across touchpoints including their website, net banking portal and their ATMs. Additionally, HDFC Bank also uses CloudCherry to run seasonal/tactical surveys & dipstick studies, to help them gather data on product offers, perception understanding, campaign evaluation and more.
Real-time decision making with Unified CEM Platform
With CloudCherry, HDFC Bank found an answer to its problem of for unifying customer experience data across all touch points. It now has a unified CEM platform that offered all the information pertaining to the customer at one single dashboard. This has helped the bank in forming a unified view of the customer, allowing faster decision making.
With access to real-time customer data, the bank is in a position to roll out products faster. It now gets analyzed data from its customers no matter where they are at the very moment it happens, thereby helping it stay on top of their customer’s evolving needs
Scalable platform – With data related to customer experience flowing in seamlessly and continually, HDFC Bank can focus on providing their customers great service and products and keeping up with their expectations.
Effective Marketing By using CloudCherry for surveys and dipstick studies, HDFC Bank enjoys a much faster Turn Around Time on data, get automated reports that can be shared across the organization on demand, is highly cost-effective and lets them see data real time and make course corrections middle stream without having to wait for the campaign to end.