Ovum Publishes New Case Study Featuring a Global Retail Bank's Use of Nexidia Interaction Analytics

ATLANTA, June 9, 2014 /PRNewswire/ -- Nexidia, a leading provider of customer interaction analytics solutions for business transformation, today announced a new Ovum case study that details how a global financial services provider leveraged Nexidia Interaction Analytics to help reinvent the company to become a more responsive, customer-centric enterprise. With Nexidia, the retail bank developed a cross-channel customer analytics capability that has resulted in a vastly improved customer experience, optimized service delivery, and better decision-making throughout the enterprise, among other benefits.

The recently published case study — entitled "Nexidia and a Global Financial Services Provider: Using Speech and Text Interaction Analytics to Optimize Customer Interactions and Quantify Outcomes" — describes how the bank leveraged Nexidia's solution to transform its service operations through greater operational and customer insights. Operating seven contact centers dispersed across North and Latin America, the company turned to Nexidia to gain a more sophisticated understanding of the diverse needs of its dynamic, global customer base. The bank employs approximately 2,000 agents who handle more than 10 million calls a year, most occurring outside the company's main office. Prior to the Nexidia deployment, the company was only able to monitor fewer than one percent of calls for quality and customer intent.

The financial services provider's use of Nexidia's solution "amounted to a sea change in the way (the) bank interacted with its data resources," according to the study. As an integral component of the company's service strategy, Nexidia Interaction Analytics has enabled the bank to quickly identify customer trends and anticipate needs, pinpoint root causes of problems, and quantify the costs and benefits of their interaction processes, among other capabilities. According to a senior manager of the bank who was quoted in the case study, this new ability to transform their customer interaction data into quantifiable, empirical data to drive more informed decision-making was "the biggest contribution Nexidia made."

Keith Dawson, Practice Leader, Customer Engagement, for Ovum and author of the case study, describes how Nexidia enabled the global retail bank to gain "greater insight into what motivates customers…(and) adjust operations to create a better overall customer experience." Dawson writes that the bank's use of Nexidia Interaction Analytics "provides an example of how operational departments can use increasingly sophisticated analytics to quantify the outcomes from different kinds of interactions across channels, and optimize the service process." In his final summary, he describes how the success of the Nexidia deployment has "helped them see the value of investing in advanced speech analytics as a way to solve business challenges," in addition to helping the firm employ "service as a competitive differentiator."

Based on the success of the initial Nexidia deployment, the financial services provider today utilizes Nexidia Interaction Analytics to monitor and analyze 100 percent of its calls. The case study, which pointed to limited cross-channel data integration as a key challenge, details how Nexidia enabled the company to move towards a "360-degree view of all customer interactions," resulting in a more integrated and consistent customer experience. The study concludes by describing how the results also led management to invest further in an "ambitious voice of the customer project" to track customer behavior across a wider variety of interaction channels.

"As the financial services industry continues to undergo radical change, tomorrow's leaders will be those firms that have a deep understanding of their customers and can tune into their diverse needs," said John Willcutts, Nexidia's president and chief executive officer. "This case study provides a glimpse of what's possible with the ability to keep a steady pulse on all your customer interactions. By developing this feedback loop, companies can rely on hard data to quickly identify hotspots, validate assumptions, and course correct. In short, it enables faster, better decisions on where to best focus your service efforts and investments."

To download your copy of this case study, click here.

About Nexidia
Nexidia provides customer interaction analytics solutions with patented technologies and breakthrough applications that enable companies to drive business transformation by capturing, making sense of, and using the full range of communications they have with customers. As the traditional voice of the customer expands from the contact center to include surveys, email, chats, and even social media sites, Nexidia provides software and service expertise to help companies synthesize this data into both a tactical tool for operational improvements and a catalyst for strategic business transformation. For more information, please visit www.nexidia.com.

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SOURCE Nexidia