Customer journey orchestration for banks and payment providers

With so many different departmens and organizations interacting with a shared customer, it is imperative that banks see and own the entire customer experience from end-to-end; they are ultimately held responsible for it. Without orchestration, teams often have information gaps when helping a customer, and that can lead to frustration, delays and lost business.

Effective customer journey orchestration ensures customers experience disconnected single interactions as one continual, smooth experience that is consistent and supportive. Today's consumers expect nothing less from brands they choose, and banks are no exception.
‍
Journey orchestration also streamlines bank operations. An orchestration layer eliminates the need to toggle between different systems to find customer information or wait in a partner's phone queue. It brings CX data to bank teams that need it in the moments they need it so they can better support customers.

OvationCXM bridges an existing gap in legacy technology. While other journey orchestration platforms focus on the marketing journey in an attempt to get customers to say yes, we focus on those customer journeys that happen after a customer has chosen a company: onboarding and support.

We do more than connect disparate departments within a bank - we bring in customer data stored in third-party systems too. We apply insights to this CX data to identify what's working and what's not, and then equip banks with a journey builder tool that allows their business line leaders to build dynamic experiences without IT or custom code. In a nutshell, we provide customer experience visibility, intelligence and a no-code builder to banks so they have the agility to design, manage and monitor complex customer experiences that include touch points with external partners.

Customer journey orchestration improves customer experience by removing fragmentation common to financial services CX. Less fragmentation leads to less friction, so customers can reach their desired goal more easily. Using a customer journey orchestration platform, banks and payment providers can:
‍
‍See customer engagement in real time: With a full view of the customer journey no matter when contacts occur, financial services providers understand the context of past activity, current goals and pain points in real-time.
‍
‍Remove friction and data silos that cause it: By eliminating information gaps, everyone can access data needed to best help a customer.
‍
‍Personalize customer interactions: Journey orchestration gives banks tools to build custom experiences based on household activity, product mix, preferred channels, etc.
‍
‍Proactively address issues: Having a real-time view, banks and payment providers can identify red flags before they become serious CX issues. Nightly batch files or summary reports come too late for today's modern service delivery.
‍
‍Ensure partner service quality: In complex ecosystems, like financial services, its common for third parties to jump start innovation or expand bank offerings. But it comes with a risk; a partner's service may not always match the bank’s brand promise. Journey orchestration platforms, like OvationCXM, provide always-on visibility into customer interactions with partners. This orchestration layer also gives partners and bankers a place to collaborate and communicate instantly.

KeyBank achieved incredible outcomes using OvationCXM's journey orchestration platform within one year.

Customer journey orchestration delivers incredible business outcomes in banking, payments and e-commerce:

‍Higher revenue growth: Customers are more likely to remain loyal and purchase additional services when they are happy. KeyBank has achieved a 10% jump in revenue using OvationCXM.
‍
Improved onboarding success: One OvationCXM client has reduced the onboarding time for Commercial Treasury products by 20%.

Drop in operating costs: Banks that use journey orchestration to enhance collaboration with third- party partners while automating and optimizing customer journeys have achieved incredible cost savings. Read how one bank reduced operating costs by 26%.
‍
‍Increased customer satisfaction: Seamless experiences lead to faster resolutions and higher NPS scores.