Nationwide has deployed SAS analytics solutions to improve up its customer interactions.
SAS uses AI to create an ecosystem where those using its Analytics solution can make better decisions based on trusted data. Furthermore, using the power of AI, nationwide will be able to tap into more effective and tailored customer interactions.
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A successful proof-of-concept (POC) harnessed AI an natural language processing (NLP). It established significant inefficiencies. More than half of all email enquiries could be resolved by guiding members towards digital channels.
Sentiment analysis from the SAS solutions helped Nationwide to detect the member’s mood; for instance, unsurprisingly, analysts identified that people’s moods worsen as the number of emails rises.
Over half of the emails could have been avoided entirely. 10% of members said that their transaction had not been resolved first time around in another channel. In addition, another 19% were not resolved the first time they sent a secure email. A further 26% of requests concerned transactions that could be moved to an online digital process.
Nationwide deploys SAS analytics for deeper insight
Nationwide will use SAS analytics to make changes to its website that aims to reduce the need for customers to contact the building society.
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By GlobalDataSenior Manager of Analytics at Nationwide, Graeme Reed, remarked: “Our recent growth has put pressure on our contact centre, which now receives over 800,000 calls every month. We needed to investigate how we could improve other communication channels to reduce call volumes.
“Using SAS text analytics, we established several concrete ways to make our service better. For example, many members contact us for proof of the travel insurance gained with the FlexPlus current account. The documents are available on our website. If we make them easier to find, more people will access them on a self-service basis.
“We also found that members often ask for a paper statement, because our online statements did not contain sufficient personal information to function as proof of address. By tweaking the statement format, we can eliminate these requests. And if several members contact us about transactions that cannot be completed online, we can consider building a digital capability to meet their needs.”
