How intelligent automation helps financial services institutions acquire, engage and retain customers

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How intelligent automation helps financial services institutions acquire, engage and retain customers

Learn how Bendigo Bank used software to improve its customers' experience.

Truly customer-centric companies take a different, wide-angle view. Moving beyond event-oriented marketing, they have developed a holistic and continuous view of each customer’s evolving life-cycle needs as he or she moves through marriage, home ownership, parenthood, and other transforming life experiences. Booz & Company

In the financial services industry, there is intense competition to win customer loyalty. To earn these long-term relationships and deliver superior service at every touchpoint, financial institutions must focus on creating seamless customer experiences through the elimination of manual processes and procedures.

Customer Engagement

Evolving customer expectations and technologies are disrupting how financial institutions operate. The customer must be the centre of every business decision, and financial institutions must focus on innovation with a willingness to develop new products, services, and channels. When approached as a relationship-building activity, based on a foundation of trust and a dedication to service, financial institutions will be rewarded with loyal customers.

In order to innovate with the speed necessary to keep customers engaged, financial institutions need the power of intelligent automation — the combination of business process and rules management, integrated robotic process automation (RPA), and artificial intelligence (AI) — to drive personalised recommendations.

Customer Transaction Lifecycle Management

Customer transaction lifecycle management is especially important for serving corporate and institutional clients. These clients generate significant revenue for financial services institutions. With AI-powered solutions, financial institutions can recommend products and services that are linked to customers’ lifecycles, providing an opportunity to grow revenue and strengthen relationships. This requires a technology platform for process automation and case management that supports business agility, collaboration, and efficiency — providing the continuity necessary to treat clients as “customers for life”.

Deeper Customer Insights

Relationship managers strengthen relationships through ongoing, personalised communications that are informed by data, enabling a deeper understanding of customer trends at a macro level while simultaneously driving unique service offerings to the individual customer. Having a 360° view of the client allows relationship managers to improve all facets of the relationship, and manage relationships through events, not just transactions — all while ensuring compliance with bank policies and procedures.

A holistic customer-centric approach makes it easy for relationship managers to keep track of upcoming meetings and calls and track activities and processes related to managing customer requests and events across a broad category of event types including account level changes, program election changes, and investment mandate changes — enabling a consistent and seamless experience resulting in increased customer satisfaction and value.

Bendigo Bank’s story

With $66 billion in assets and 1.6 million customers, Bendigo Bank is considered one of the largest banks in Australia. Even so, it still believed it had much work to do to break down silos and connect disparate portions of its operations into one unified, quality customer experience.

The bank re-organised everything to become obsessed with the customer experience. It did away with the organisational separations across its divisions for Retail Banking, Credit Cards, Lending, Institutional Banking, etc. The bank instead aligned to the core entities or roles of the organisation – servicing the customer, working with partners and looking at innovation.

To go “all-in” on customer obsession, the bank’s CIO became the Executive for Customer Service Improvement (CSI), with the entire program reporting directly to the CFO. The CSI division’s charter includes acting as custodian of the bank’s technology strategy. The CSI team knew they needed a new way to enact Bendigo’s customer obsession through software. They put Appian at the centre of their strategy.

In 18 months, the bank rolled out 25 customer-focused enterprise applications on Appian. The bank also has an additional 12 ‘citizen developer’ Appian applications through its innovative ‘In Business Programme’. Nearly every one of these enterprise applications is considered by the bank to be a Tier 1, critical customer-impacting process. Appian is running ATM Management, Credit Card Management, Fraud Management, Disputes, Loans, Mortgages, Merchant Services, and more.

This is an organisation that has truly adopted Appian as their enterprise BPM/Apps platform. And it’s all in direct service of the customer.

About Appian

Appian provides a low-code development platform that accelerates the creation of high-impact business applications. Many of the world’s largest organisations use Appian applications to improve customer experience, achieve operational excellence, and simplify global risk management and compliance. For more information, visit

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