The biggest challenges for banks in their commercial card business operations are:
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1. Intense regulatory scrutiny and compliance: Specific laws and regulatory changes are strict and evolving.
2. Disconnected systems and information: There's no single source of data; information is locked in different legacy platforms making it slow to see and find information.
3. Repeated requests for customer information: New customers are often asked to provide the same information multiple times in their credit card onboarding journey, which is frustrating. Even existing customers are asked for information even though it already reside somewhere in the bank ecosystem. It's inefficient and irritating to the customer, which impacts the relationship.
4. Slow and opaque processes: Traditional bank approvals take longer than emerging competitors who approve credit very quickly.
5. Poor CX: Customer frustration may be directed to front-line sales and account employees who are working within the existing processes and don't have the tools to improve the card activation journey.
6. Poor communication: Customers don’t know the steps or current status of their application. They feel left in a black box.

OvationCXM's CX management platform is designed to optimize financial services onboarding and support with a robust suite of orchestration and journey building tools.

Its orchestration layer sits on top of bank legacy systems and connects to partner platforms that service a part of the shared customer's commercial card journey.

OvationCXM displays all of the customer's journey activity in one place, in real time (not end-of-day batch feeds) and any conversations and communication, inside and outside the bank.

By eliminating data silos, bank commercial card teams can help to move clients through card application to onboarding and then activation seamlessly, without missteps or obstacles. They can also monitor third-party partners to ensure they fulfill steps and address issues as well. The OvationCXM platform provides a centralized place to collaborate, too, without clunky email threads and phone queues.

OvationCXM's journey builder is the only tool that allows banks to design precise customer journeys that include partners, with flexibility to customize workflows for specific segments and situations, all without overhauling existing infrastructure or IT resources. The commercial card business line can be as agile as needed, without delays.

Our in-platform AI identifies trends, opportunities, product gaps, service red flags and upsell opportunities from the immense customer data so banks consistently deliver the service they are known for, no matter how complex or regulated. 

OvationCXM has a deep understanding of the unique challenges faced by commercial card teams in banks, because we specialize in removing chaos from complex ecosystems. We partner with a numbe of top 10 financial institutions, giving us the expertise to deliver real-world impact on business metrics and same-year ROI.

Just ask! Contact us today to schedule an introductory call, and see our platform in action. We are a consultative partner, helping banks optimize their journeys specific to their needs.