Bank of Muntenia: Transforming the customer listening model
In June 2023, Nadia Cuza, recently appointed Head of Customer Experience at Bank of Muntenia, was reflecting on the journey taken to launch the new customer listening model and the challenges ahead. Less than a year earlier, a new model for measuring satisfaction after every customer interaction with the bank had been rolled out across the entire retail network: when visiting an office, logging into online banking, using an ATM or any other interaction with the bank, customers received a short survey to assess their experience. The new model substituted a more traditional one which consisted of in-depth customer interviews. This new wealth of data and the use of AI tools presented opportunities to improve customer experience and commercial results.
Collection: IESE (España)
Ref: M-1404-E
Format: PDF
Number of pages: 6
Publication Date: Dec 15, 2023
Language: English, Spanish
Review date: Dec 19, 2024
What material is included in this case:
Description
In June 2023, Nadia Cuza, recently appointed Head of Customer Experience at Bank of Muntenia, was reflecting on the journey taken to launch the new customer listening model and the challenges ahead. Less than a year earlier, a new model for measuring satisfaction after every customer interaction with the bank had been rolled out across the entire retail network: when visiting an office, logging into online banking, using an ATM or any other interaction with the bank, customers received a short survey to assess their experience. The new model substituted a more traditional one which consisted of in-depth customer interviews. This new wealth of data and the use of AI tools presented opportunities to improve customer experience and commercial results.
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Year: 2023
Geographic Setting: Romania
Industry Setting: Financial
Learning Objective
What is Net Promoter Score (NPS)?
Net promoter score (NPS) is a metric that assesses the willingness of customers to recommend a company's products or services to other people. Essentially, the net promoter score can be viewed as an indicator of customer loyalty and satisfaction. The metric aims to identify customers who are less satisfied with the customer experience or product and transform them into the company's promoters.
First block: How would you evaluate the NPS project so far? Break-even of the NPS project
Second block: How would you improve the NPS project?
Third block: Is NPS biased?
Fourth block: Contacting neutral customers
Fifth block: Applications of data analytics and AI
Net promoter score (NPS) is a metric that assesses the willingness of customers to recommend a company's products or services to other people. Essentially, the net promoter score can be viewed as an indicator of customer loyalty and satisfaction. The metric aims to identify customers who are less satisfied with the customer experience or product and transform them into the company's promoters.
First block: How would you evaluate the NPS project so far? Break-even of the NPS project
Second block: How would you improve the NPS project?
Third block: Is NPS biased?
Fourth block: Contacting neutral customers
Fifth block: Applications of data analytics and AI
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