Leading Financial Services Institutions Choose Qualtrics to Improve Customer and Employee Experiences

Rhea-AI Summary

Qualtrics (NASDAQ: XM) recently announced that major financial services organizations, including Farmers Insurance, Principal Financial, and State Employees’ Credit Union, selected its experience management solutions in Q4 2022. Organizations aim to enhance customer and employee experiences to foster loyalty and improve business outcomes. Qualtrics' research found that 63% of consumers feel companies need to listen better, while 38% of employees report feeling burnt out. Its platform enables firms to analyze feedback and identify areas for improvement. Financial leaders partner with Qualtrics to gain insights and create empathetic experiences across interactions.

Positive

• Major organizations like Farmers Insurance, Principal Financial, and State Employees’ Credit Union adopted Qualtrics' experience management solutions.
• Qualtrics' platform helps organizations understand customer and employee experiences, improving loyalty.
• The research indicates a significant demand for improved customer engagement, highlighting the relevance of Qualtrics' offerings.

Negative

• None.

PROVO, Utah & SEATTLE--(BUSINESS WIRE)-- Qualtrics (Nasdaq: XM), the leader and creator of the experience management category, today announced that leading financial services organizations worldwide, including Farmers Insurance, Principal Financial and State Employees’ Credit Union selected its experience management solutions in the fourth quarter of 2022. As companies look to attract and retain the best talent and win over customers, Qualtrics is helping them create experiences that build trust and loyalty.

In a competitive economic environment, it’s more critical than ever for financial services organizations to deliver exceptional experiences that translate into stronger customer and employee relationships and better business outcomes. Qualtrics research shows nearly two-thirds (63%) of consumers say companies need to do a better job of listening to them, and 38% of employees are feeling burned out. With the Qualtrics XM Platform™, financial institutions can analyze feedback from multiple sources to create a comprehensive picture of customer and employee journeys, identify pain-points and take action with quantifiable results.

“What’s becoming clear to us is that, increasingly, experience IS the basis of competition in financial services,” said Dmitry Binkevich, global head of the financial services industry at Qualtrics. “In order to set themselves apart, financial services leaders are partnering with Qualtrics to deeply understand their customers and employees, and to consistently deliver contextual, empathetic and effortless experiences across product lines, channels and interactions.”

Highlights from the fourth quarter include the following organizations choosing Qualtrics to better understand peoples’ emotion, effort and intent and exceed expectations in their fields:

In Q4, Farmers Insurance standardized on Qualtrics CX Discover across all of its contact centers so that they can identify the greatest points of friction in the customer service they’re providing to agents and members. With Discover’s AI and advanced analytics capabilities, Farmers will expand its visibility into every interaction with customer service representatives, spanning millions of records so they can improve processes, coach their representatives and address issues immediately and consistently.

Principal Financial Group® is on a mission to create a unified, modern digital experience for all its customers. They’ve made strategic investments to weave together humanity and technology to deliver relevant and intuitive experiences for customers whenever they engage with their online accounts. The firm chose Qualtrics CX and XM Discover to analyze more than 30 million customer conversations annually, using Discover’s advanced AI capabilities. Principal® will be able to bring together feedback from customers at their engagement centers and through digital interactions. The intent is to improve the customer’s experience while also reducing risk and operational costs where possible.

State Employees’ Credit Union (SECU), an 85-year-old North Carolina financial institution with more than 7,500 employees, chose Qualtrics Employee XM to transform its employee culture under new leadership, including a new CEO and Chief Culture Officer. The credit union is quickly modernizing its mobile and digital offerings for members, and the leaders believe that it must modernize internally, as well. SECU will use Qualtrics’ EX solution to build strong employee experience and DEI programs that make it a destination employer in the state of North Carolina.

About Qualtrics

Qualtrics, the leader and creator of the experience management category, is a cloud-native software provider that helps organizations quickly identify and resolve points of friction across all digital and human touchpoints in their business – so they can retain their best customers and employees, protect their revenue, and drive profitability. More than 18,750 organizations around the world use Qualtrics’s advanced AI to listen, understand, and take action. Qualtrics uses its vast universe of experience data to form the largest database of human sentiment in the world. Qualtrics is co-headquartered in Provo, Utah and Seattle, and operates out of 28 offices globally. To learn more, please visit qualtrics.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230202005376/en/

Geraldine Lim

press@qualtrics.com

951-318-3494

Source: Qualtrics

FAQ

What major organizations selected Qualtrics' solutions in Q4 2022?

Farmers Insurance, Principal Financial, and State Employees’ Credit Union chose Qualtrics' experience management solutions.

What percentage of consumers feel companies need to listen better?

63% of consumers believe companies need to improve their listening skills.

What does the Qualtrics platform enable financial institutions to do?

The platform allows financial institutions to analyze feedback from various sources to enhance customer and employee experiences.

How does Qualtrics support organizations in improving loyalty?

Qualtrics provides tools for firms to understand customer and employee journeys, identify pain points, and take actionable steps.