Data and analytics, RBS
Who are they?
RBS has set itself the goal of becoming rated number one for customer service, trust and advocacy by the year 2020. To ensure it continues to improve the customer eperience, it needs to understand what all of its customers think about the bank’s brands, what they feel about their experiences and where any improvements could be made.
To support this objective, it needs to enable staff to listen to customers, learn from their feedback and then act on it. Net Promoter Score is the core tool used for this process, sitting at the heart of a closed loop feedback programme operated by the data and analytics team. It acts as the link between the 20,000 frontline staff and 16 million customers transacting through multiple channels.
What do they do?
Every day, customers provide new feedback on the interactions which they have with staff. This is reviewed and the customer engaged with, if necessary, while any learnings are communicated directly to teams - issues are escalated where appropriate. RBS gains a powerful management tool which has direct application to its colleagues and customers.
Millions of data points from across the bank are used to identify and assess every customer interaction. Surveys are served to customers based on the algorithms within a decisioning engine taht balances the need for sufficient volumes of feedback to each wave and for every team, while ensuring individuals are not asked too frequently.
Individual staff members receive specific feedback together with any details required if a follow-up with the customer is appropriate. A call centre agent who is praised by a customer will be told this directly. If mitigation of a poor experience is necessary, this will also be carried out. The feedback is analysed in real-time and the insight deliverd across the organisation at every level. The data and analytics team apply a range of techniques to identify where investment should be made to optimise the impact on the customer experience.
Over the course of six months, RBS has increased its NPS score by four points. The volume of feedback provided to staff has accelerated, providing as much insight in a day as used to be given in a month. Response rates to the satisfaction survey have also trebled.
What did the judges say?
What impressed the judges was the clear customer focus displayed by RBS, especially the way in which investment into analytics is being tied to customer outcomes. Integration of the closed loop feedback across the business was especially applauded.