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Bank Leumi boosts website transactions by 11% with Glassbox
Bank Leumi is the largest major bank in Israel. Founded in 1902, it has expanded its service area to include 21 other countries across Europe, the Americas and Asia. Bank Luemi offers personal and corporate banking, credit cards, investment banking, asset and wealth management among other services, supporting its customers both online and via mobile app.
Bank Leumi was dealing with a high volume of calls to its contact center, as customers tried and failed in their attempts to complete a transaction online through their online self-service banking portal. The resulting calls were long which severely impacted average handle time (AHT), a key performance indicator used to measure the efficiency and effectiveness of the contact center.
Furthermore, first call resolution (FCR) rates were low, with customers calling back and many calls being escalated to second- and third-tier customer support.
To understand exactly why and when customers were electing to switch from the website to customer service, the bank decided to implement Glassbox.
Finding the root-cause of friction
Just as the contact center records all calls, the bank leveraged Glassbox to automatically capture every mouse movement, click and form-fill for every online customer journey. These journeys are analyzed using Glassbox in order to identify and pinpoint the root causes of known and unknown customer pain-points and barriers to self-service.
Saving time on error reproduction
Prior to Glassbox, the bank may have known about an issue, but it was not able to accurately reconstruct the customer’s online journey exactly as they experienced it in order to fix issues. Now, with Glassbox the Bank Leumi can see both what the customer sees and what’s happening from the IT side. The bank’s engineering team has eliminated the need to reproduce 95% of all interaction and transaction errors, saving valuable time.
“Within 8 weeks, Bank Leumi received the fastest and most effective ROI with Glassbox, when compared to previous mobile technology implementations. We couldn‘t imagine better cooperation with a technology partner than the one we have with the Glassbox team.”Mobile App Product Manager, Bank Leumi
With Glassbox in place, the insights Bank Leumi derives, and the actions they take as a result, have had a substantial impact on the bottom-line. They’ve increased digital sales by 11% now that customers can interact and transact online more easily.
Significant pressure has also been alleviated for the contact center, with AHT down by 70% (from an average call of five minutes, down to just one and a half minutes) for customer support calls relating to website technical issues. They’ve also achieved a 20% reduction in escalations to second tier support.
Glassbox is also now an essential tool for the marketing and web teams, enabling them to reproduce customer journeys and conduct in-depth root cause analysis into the customer journey. Known and unknown issues are discovered, investigated and resolved, so the bank can act proactively in helping its customers on their online channels. Bank Leumi has since expanded their use of Glassbox to include their mobile apps.
increase is online transactions
drop in Average Handle Time (AHT)
reduction in escalations to second tier support
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