Qualtrics Launches Retail Banking Accelerator to Help Banks Get Customer Insights Faster

Rhea-AI Summary

Qualtrics has introduced the Retail Banking Accelerator, designed to assist retail banks and credit unions with the implementation of its customer experience (CX) solutions at lower costs and faster speeds. This solution provides pre-built templates and benchmarks to measure customer satisfaction, making it easier for financial organizations to enhance customer relationships.

With 63% of banking executives prioritizing customer experience, this new tool aims to facilitate quicker setups of CX initiatives, significantly reducing time spent on implementation, thus improving overall customer insights.

Positive

• Launch of Retail Banking Accelerator enables faster implementation of CX solutions at fixed costs.
• Over 1,400 financial institutions already benefitting from Qualtrics solutions.
• Pre-built templates and benchmarks help enhance customer experience and save resources.

Negative

• None.

New solution enables retail banks and credit unions to lower implementation costs of Qualtrics CX projects

PROVO, Utah & SEATTLE--(BUSINESS WIRE)-- Qualtrics (Nasdaq: XM), the leader and creator of the experience management category, today announced the availability of the Retail Banking Accelerator to make it easy for financial services organizations to adopt the Qualtrics Foundational Customer Experience (CX) solution. By providing quick and predictable implementation at a fixed cost, the new solution enables retail banks and credit unions to set up CX improvement projects efficiently and effectively. Included benchmarks enable financial institutions to compare key metrics against peers, helping to inform strategies and actions that improve the customer experience.

Qualtrics research shows nearly two-thirds (63%) of global banking executives report that improving customer experience is a critical priority for their organization. With consumers increasingly choosing best-of-breed banking products from different providers, it's more critical than ever for financial services organizations to deliver standout experiences that strengthen customer relationships, build trust and drive brand affinity.

Over 1,400 financial services organizations already use Qualtrics to help drive bottom-line impact by delivering exceptional experiences. The Retail Banking Accelerator solution provides banking leaders with a faster way to understand how they are serving their customers. With pre-built survey templates, dashboards, analytics and workflows that are specifically tailored for retail banks and credit unions, the accelerator helps financial institutions save time and resources setting up CX initiatives. Increased speed to insight enables banks and credit unions to spend less time implementing Qualtrics software and more time analyzing customer feedback and identifying areas of improvement that will have the most impact on customers.

“We often hear from our banking customers that not only does implementation cost more and take longer than expected, but it requires internal resources and competencies that they often don’t have,” said Dmitry Binkevich, global head of Financial Services at Qualtrics. “We listened and we’ve launched the Retail Banking Accelerator to enable a smooth implementation, easy rollout and shorter time to value. All of this ultimately means higher, faster return on the CX investment for our banking and credit union clients.”

Available today in the U.S. and Canada, with additional markets including the U.K. coming soon, the benefits of the Qualtrics Retail Banking Accelerator go beyond lower costs and higher value of CX projects. Deep insights combined with automated workflows and actions help retail banks and credit unions quickly respond to customer feedback at scale. Continually updated benchmarks will allow financial institutions to compare themselves to their peers and to measure their success on customer satisfaction, trust and other factors that drive customer experience.

For more on the Qualtrics Retail Banking Accelerator, visit the Qualtrics Marketplace.

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/20230301005510/en/

Geraldine Lim

press@qualtrics.com

951-318-3494

Source: Qualtrics

FAQ

What is the Retail Banking Accelerator by Qualtrics (XM)?

The Retail Banking Accelerator is a solution aimed at helping retail banks and credit unions implement customer experience (CX) initiatives more efficiently and cost-effectively.

How does the Retail Banking Accelerator help financial institutions?

It offers quick implementation, fixed costs, pre-built survey templates, and benchmarks for comparing performance against peers.

When was the Retail Banking Accelerator announced by Qualtrics?

The Retail Banking Accelerator was announced on March 1, 2023.

Which markets currently have access to the Retail Banking Accelerator?

As of now, it is available in the U.S. and Canada, with plans to expand to the U.K.

What percentage of banking executives prioritize improving customer experience?

According to Qualtrics research, 63% of global banking executives report that improving customer experience is a critical priority.