Glia provides a new, unified way for banks and
credit unions to define and measure the value created by
comprehensive customer interactions
NEW
YORK, July 18, 2024 /PRNewswire/ -- Glia, the
leader in customer interaction technology, today launched the Glia
Interactions Index, a new way for financial services organizations
to benchmark against similar institutions to quantify the
efficiency, effectiveness and experience of their customer
interaction strategy. Glia has also launched its first ever Unified
Interactions Report based on this Index with nearly 15 financial
services organizations contributing insights, helping to validate
these benchmarks. The report provides actionable steps for how
banks, credit unions and insurance companies can enhance how
customers experience their brand.
In today's interaction economy, customer interactions are where
loyalty and revenue are made and lost. The Unified Interactions
Index, based upon aggregated data from over 3 billion interactions
between financial institutions and their customers, helps banks and
credit unions to compare their performance against industry
benchmarks across 13 success metrics and create a single composite
score. This composite score gives a better picture of the health of
a customer interaction program, instead of having to rely on CSAT
alone. The benchmark data is uniquely offered for free by Glia,
where it is normally only accessible through paid consultancy.
The goal is to provide a more modern, detailed understanding of
the value created by customer interactions across all forms of
communication and collaboration by connecting interaction metrics
to tangible business KPIs.
The Index measures against the three primary goals of nearly all
customer service, contact center and digital teams in the financial
services industry:
- Efficiency, which includes lowering the overall
cost-to-serve, reducing average handle times and eliminating
unnecessary live interactions.
- Effectiveness, which includes revenue generation, new
account openings and increasing AUM or premiums.
- Experience, which includes CSAT, NPS and CES scores;
customer loyalty; and customer lifetime value.
The Index integrates 13 different data points across these three
categories to determine one unified, holistic performance metric,
presented on a 0-100 scoring scale. From there, the experts at Glia
are available to work with that financial services company to find
immediate, easy areas for improvement, identify and understand
their strengths and implement a more sophisticated way to measure
performance and success moving forward.
"Institutions' investments in modern customer experience
technologies are often insufficient due to their siloed,
channel-centric approach. Simply put, channels are killing their
bottom lines," explained Dan
Michaeli, CEO and co-founder of Glia. "To succeed, it's
imperative to approach and evaluate customer interactions
differently. Through working with hundreds of banks and credit
unions, we've recognized that measuring customer experience alone
isn't enough to indicate concrete business outcomes. We've created
the Unified Interactions Index to deliver a new, more effective way
to define and measure the value of customer interactions – it's the
first benchmarking tool of its kind."
The Index and Report have found that those companies that are
taking a unified approach to managing their interactions are
creating more cost savings, increasing revenue and offering a
better customer experience overall. Michaeli continued, "The most
progressive organizations are embracing a new model in which all
customer interactions and channels are converged into one Unified
Interaction Management (UIM) platform. Such an approach results in
more responsive service, which has been proven to increase loyalty
but at a lower cost-to-serve."
This autumn, Glia will release the Interactions Index
Calculator, providing a simple, guided digital process for
institutions to calculate their scores. This Index and Report will
be continuously improved and updated; Glia plans to repeat the
Unified Interactions Report again in 2025, including even more
metrics.
To learn more about Glia's Unified Interactions Report and how
you rank, sign up for our webinar on Wednesday, July 24th at 2:00 pm ET here.
About Glia
Glia is the leader and pioneer of Unified Interaction
Management—redefining how companies interact with their customers.
The Glia Interaction Platform unifies voice, digital customer
service, and AI with a unique ChannelLess™ architecture that
eliminates data silos, dropped context, and frustration for
customers and representatives. With Glia, companies can easily
shift volume between channels, and customer connections can evolve
naturally. Glia helps its customers harness the power of customer
interactions to drive efficiency, loyalty, and revenue.
Glia has partnered with over 500 insurance companies, banks,
credit unions, and other financial institutions worldwide to
improve the customer experience and drive business results. Named
a Deloitte Technology Fast 500™ company for a third year in a
row and a Great Place to Work (with a 97% employee
satisfaction rating), the company has raised over $150 million in funding from top investors and
was recently valued at over $1
Billion. Learn more at glia.com.
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SOURCE Glia