Customer Story

Bendigo Bank

How Bendigo Bank supports customer-led decision making in real-time

Bendigo Bank Achieved

79% faster response to customer calls

90% drop in phone queue complaints

1st place in Forrester's Australia CX index 3 years in a row

Overview

Bendigo Bank, Australia’s fifth largest retail bank, transformed how it uses insights to keep pace with customer expectations. Truly customer first, Bendigo Bank leverages insight from its miVoice community to scale CX initiatives across products and services. Bendigo Bank have placed in the top spot on Forrester’s CX index three years in a row, with its online community contributing to that success.

Goals:

Improve customer satisfaction

De-risk decisions

Business Challenge

With customer service in the financial services industry rapidly evolving, Bendigo Bank recognised the need to transform its products and digital offerings to keep pace with customer expectations. While recognising the need for traditional branches, Bendigo needed a way to validate new strategic developments across digital, services and products that would ultimately affect the experience of its customers.

Solution

In 2015, Bendigo and Adelaide Bank partnered with Vision Critical (now Alida) to create an online community of engaged customers called miVoice. miVoice is now the sounding board for customer-centric decisions made across the business.

With a goal to create faster, simpler banking, Bendigo Bank engaged the miVoice community to better understand pain points around certain banking processes. After experiencing ongoing complaints around call wait times into the contact centre, the bank enacted various changes that resulted in 79% faster customer service and a 90% drop in complaints about phone queues.

"As a business, our goal is to break down isolated and disconnected customer experiences and provide a seamless and connected experience and an environment where customers lead the way - and our online customer community allows us to do that."

– Mike Hirst, Managing Director, Bendigo Bank