How BMO reimagined the commercial banking digital client experience.
Partnering with Quantum Metric, BMO built an award-winning approach to creating greater empathy for how its customers were using the company’s commercial digital banking platform.
teams
CX & VOC , Productregion
Americasindustry
Financial Servicesfeatures
Data capture , Session replaymin read
90% reduction in time to resolution.
50% reduction in time to identify frustrations.
100,000 sessions monitored daily.
The push to digital-first.
For its commercial banking division, BMO focused on building a self-service experience that was as personalized and intuitive as its retail banking platform. But, its incumbent analytics system simply wasn’t giving them the depth of insight on commercial customers that they needed.
Partnering with Quantum Metric, BMO could immediately visualize the complete customer experience and easily link it back to specific behaviors or technical faults. Also, improving the approach to prioritization and alignment, Quantum Metric automatically quantified client frustrations, helping them to align on goals and prioritize digital fixes.
Preventing double payments.
In one instance, a customer that double clicked a payroll request instantly called BMO’s customer service center. Using Quantum Metric, the customer services rep reviewed the customer’s visit and could track the exact moment the double click occurred, and stop a potential double-payment.
Furthermore, they discovered an issue with the payment button that suggested the first click hadn’t worked, since it didn’t ‘gray-out’. This confirmed it was a technical error. Quantum Metric found all other instances of this issue and quantified the cost to the business to convince the digital team to prioritize this quick fix.
“Quantum Metric provides a single source of truth around the customer experience and everyone can see and understand the impact of a problem, and agree on what’s most important. Technology and business teams have genuinely been brought closer together through the use of Quantum Metric.”
Steven Teo/Head of Innovation and Digital Controls, Treasury & Payment Solutions
Building ahead of customer needs.
In the first year of their partnership alone, Quantum Metric helped accelerate BMO’s shift to digital-first by:
- Enabling faster resolution of digital friction: Using session replay, teams are able to visualize, identify and fix the issues, in less than an hour. Previously this took a day or more.
- Reducing time to investigate customer escalations: With Quantum Metric, BMO has seen the time it takes to identify customer frustrations decrease by 50%. This has improved customer satisfaction and reduced costs for the service center.
- Providing a comprehensive view of the customer experience: With BMO’s previous analytics system, it would take 3 months to manually tag just 10% of the commercial banking site. In the same time frame, Quantum Metric’s automated logging tagged almost 90% of BMO’s site.
“When you have over 100,000 commercial digital banking sessions a day, understanding what they want and how they’re behaving is exceptionally complex. Quantum Metric has helped turn us into that completely customer-centric team and provided the framework to continue to scale our customer experiences and service. ”
Sean Ellery/Head of Digital and Innovation, Treasury & Payment Solutions
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