Careful What You Say, Some Banks Are Listening

by Mercator Advisory Group 0

What a concept –listening to your customers. But now a little “big brother” has been added to the equation as companies implement systems that analyze customer conversations taking place in social media, e-mails, CRM notes, and SMS messages.

Attensity, the leading provider of text analytics solutions for Customer Experience Management (CEM), today announced a new Retail Banking Industry Solution that enables financial services organizations to unearth actionable intelligence, such as intent to churn, hidden within the unstructured text of customer conversations. The new offering is designed to accelerate the implementation and ROI of the company’s next-generation customer analytics and engagement applications.

“As a result of the recession, customers are increasingly frustrated with their banking choices, yet the fundamental reasons for that frustration are not always apparent. Using Attensity’s deep analytics, we discovered that the surface issues are not always the true source of discontent,” said Catherine van Zuylen, vice president of global product management at Attensity. “The Attensity Retail Banking Industry Solution will help banks identify the true reasons for churn and extract real business value from customer conversations. The new solution also provides new insights to product and service development teams that build loyalty and create up-sell and cross-sell opportunities.”

For more information read Attensity’s press release: http://www.attensity.com/2011/05/17/attensity-introduces-text-analytics-solution-for-retail-banks/

Michael Wong director, enterprise business intelligence at Royal Bank of Canada, will be presenting Using Text Analytics to Improve The Customer Banking Experience with Attensity at 7th annual Text Analytics Summit in Boston on Thursday May 19th. For more information about the conference: http://www.textanalyticsnews.com/text-mining-conference/index.shtml