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Italian Bank Expertly Leverages BryterCX Analytics to Heighten its COVID-19 Response

How Journey Analytics Strengthens the Financial Sector During A Crisis

Written by
Joe Cooper, Sr. Consultant, CSO, BryterCX

Drastic Changes for a Country Under Quarantine

Over the past few months, the financial sector has faced disruptions to how they conduct business in the face of COVID-19. Specifically, banks have had to reinvent how they conduct business as their customers change how they manage their finances.

Life in Northern Italy changed dramatically on March 8, 2020, as residents’ movements were suddenly restricted by the imposed quarantine. BryterCX’s client, Banca Popolare di Sondrio S.C.p.A. (BPSO) is located in Lombardy, the epicenter of the COVID-19 outbreak in Italy. BPSO needed to quickly find out how the crisis was impacting their customers.

Total Interaction Volume – All Channels

Finding Answers Quickly

During the first week of the quarantine, BPSO asked BryterCX, along with their partner Your Future, to build a trended dashboard view of channel usage to support a planning meeting with their Board of Directors. They needed tools to track weekly trends in customer activities across its various channels: Branch, ATM, web, mobile and point of sale.

BryterCX was able to quickly generate insight that clearly showed the impact of COVID-19 on BPSO’s customers’ behaviors. As expected, the data revealed large drops in branch and ATM visits, as well as point of sale transactions. However, the data showed no significant shift towards digital adoption by BPSO’s non-digital customers. In fact, only 2.3% of customers that were non-digital prior to the quarantine shifted to digital in those first few weeks. Even so, the net result was an increase in the digital share of overall volume. This information will continue to help BPSO to closely monitor their digital platforms to evaluate and prioritize future investments in these channels.

Total Interaction Volume – Digital vs. Non-Digital

“The ability to monitor customer behavior makes it possible to ensure each customer is engaging with us through the channel that is most beneficial for them based upon their preferences.”
Milo Gusmeroli
CIO – Chief Information Officer
Banca Popolare di Sondrio

“BryterCX was introduced to us to conduct a behavioral analysis of the customer journey, but in this moment of emergency, they were able to quickly, competently and concretely extract very useful trends for the management of our operations during this difficult period.”
Andrea Bandera
Head of Data Management & Advanced Analytics Unit
Banca Popolare di Sondrio

“BryterCX has been very flexible, executing on BPSO requests on a near daily basis, resulting in the development of dashboards capable of providing a comprehensive view of behavioral changes across different channels, and many variables. This has allowed BPSO to stay focused on our customers’ needs.”
Stefania Villa
Advanced Analytics Specialist
Banca Popolare di Sondrio

“I was surprised by how fast BryterCX extracted and displayed relevant information for the COVID-19 emergency. They were able to provide, in just a few days, relevant insights that BPSO is using right now to better manage branch and digital activities in these very uncertain times.”
Cristiano Magi
Digital Transformation Expert
Your Future, Italian BryterCX Partner

Preparing for the New Normal

As the crisis continues, continued analytics will be essential in order to align with shifts in customer needs. Tracking changes to client routines and journeys both during the quarantine and after will allow BPSO to optimize the services they provide. Using the real-time analysis and tracking mechanisms that BryterCX has implemented, BPSO will be better positioned to respond swiftly and effectively to changing and evolving trends.

Helping Clients Adapt in a Crisis

As communities in Italy battle COVID-19, the BPSO team remains steadfast in their mission to provide customers with an optimal experience—especially in uncertain times. BryterCX supported BPSO by quickly providing information they were unable to gather and analyze themselves at the speed required.

In addition to the initial views provided, BryterCX continues to enhance the dashboard to provide additional levels of detail around specific customer activities. The connected data and dynamic nature of BryterCX tools provides BPSO with the ability to perform analysis based on a wide range of variables (area, customer demographics, transaction details, etc). This allows the BPSO team to compare impacts across their entire customer base.

About the Author

Joe Cooper

Sr. Consultant, CSO, BryterCX

As a Sr. Consultant with BryterCX, Joe leads client engagements in the Banking & Financial Services industry. With over a decade of experience in helping clients improve their customers’ experiences, Joe identifies pain points along customer journeys to decrease costs and improve customer satisfaction and loyalty. A Florida native, Joe graduated from the University of Florida with a Master’s Degree in Mathematics and is a Certified Six Sigma Green Belt (CSSGB) and Project Management Professional (PMP).

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Banca Popolare di Sondrio

Founded in 1871, Banca Popolare di Sondrio is one of the first Italian popular banks inspired by the popular cooperative credit movement. Over time, thanks to the gradual extension of activity and territorial presence, it has assumed an over-regional dimension with operational possibilities extended to the whole national territory, maintaining a strong link with the area of origin. The bank provides its customers (families, professionals, small and large companies, public institution, etc.) with services capable of satisfying any banking, financial and insurance requirement.

Your Future is a forward-thinking team scouting cutting-edge technologies to provide competitive advantage to companies in Italy. It is focused primarily in MarTech and Analytics, with an ever-expanding portfolio of international technologies designed to answer unsolved challenges. Each solution covers a specific function and can be integrated with others selected by Your Future to foster a better knowledge of clients, competitors and ecosystem, in order to make the right move increasing sales and reducing costs and churn.

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