Inbenta helps U.K.’s largest retail bank foster meaningful customer relationships
Many banks are struggling to navigate customer and employee satisfaction as they embrace the digital age. Nationwide Building Society was struggling to manage high volumes of member inquiries during ISA season. With a key objective of improving the member and employee experience, Nationwide was looking for a solution to reduce non-value contact requests and empower members through digital capabilities, so it turned to Inbenta for its Learn platform.
Inbenta’s Learn platform has delivered:
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- 133% growth in digital adoption
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- 45% increase in mobile app adoption
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- 75% reduction in non-value contact requests
Who:
Nationwide Building Society is the U.K.’s largest retail bank and the world’s largest building society, serving more than 16 million members. It’s committed to providing excellent customer service while navigating the complexities of the digital banking landscape.
What:
During the renewal season for ISAs (Individual Savings Accounts), Nationwide receives an overwhelming number of member inquiries, resulting in inefficiencies and increased operational costs. To address these challenges, it was looking for a solution to educate its members, reducing unnecessary contact and, ultimately, improving the overall customer experience.
Why Inbenta?
Nationwide chose Inbenta’s Learn because of its unique focus on training and customer engagement. In particular, the ability to provide personalized, step-by-step advice through the ISA renewal simulator and mobile app set Inbenta apart from other solutions. This approach has not only eased pressure on employees, but also built trust with members by empowering them to effectively navigate their digital experiences.
We call it digital with a human touch — giving members choice by giving them the knowledge to transact digitally should they want to.
The challenge
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- Manage high volumes of member inquiries.
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- Reduce non-value contact requests to minimize operational pressure.
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- Increase member awareness of digital channels to improve self-service.
The solution
Inbenta worked with Nationwide to deploy digital process demos, which were developed into three tailor-made digital learning platforms called Discover Digital: a customer direct self-serve hub, an assisted-serve hub for branches and contact centers, and a frontline direct employee platform. The demos are designed to be intuitive, integrated with tips to guide users through common banking processes. To date, digital process demos have been applied to 60+ everyday banking transactions.
Key features
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- Step-by-step guidance: Digital demonstrations provide clear, concise instructions for users, helping them better understand digital banking features.
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- Mobile-friendly interface: Each demo is designed for easy access on mobile devices, supporting the growing trend towards mobile banking.
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- Engagement analysis: Nationwide can track user interactions to continuously improve the customer experience.
A demonstration provides the safety and space for colleagues and members to play and familiarize themselves before getting in the game and doing it themselves.
The results
Inbenta’s digital demos have yielded impressive results:
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- Intensive training commitment: By 2023, around 60,000 courses had been taken on the Discover Digital training sites, indicating a significant commitment on both sides.
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- Strong use of demos: The average weekly number of demos emailed to members reached 9,935, indicating widespread adoption and utility.
- Boosting digital adoption: In five years, Nationwide has seen significant growth in digital adoption, attributing this success to the effectiveness of digital demos.
I wouldn't be overselling it when I say that when we launched Discover Mobile, I received more positive feedback from my colleagues than I ever have in 10 years of launching a bunch of other different programs.
By the numbers:
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- Cost avoidance: £1.75M
With an estimated £5 cost per call, Nationwide avoided an estimated £1.75M in operational costs.
- Cost avoidance: £1.75M
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- Call/service time reduction: 250.8K mins
Frontline colleagues were able to reduce their service time as a result of 334,000 demos viewed on the assisted-serve platform.
- Call/service time reduction: 250.8K mins
Nationwide’s collaboration with Inbenta has not only improved customer and employee engagement, it has also positioned Nationwide as a leader in delivering exceptional digital experiences — allowing the building society to achieve its business objectives and surpass industry benchmarks.
