Leveraging digital feedback for customer centricity

Digitisation offers an array of new opportunities for organisations and requires a fresh approach to conducting business and servicing customers. Amongst other goals, it enables a firm to be customer-centric at scale. However, the traditional analytics technologies currently used for engaging customers are not efficient for the live customer engagement environment that digital channels provide. Studies have shown that even one bad digital experience can prove very costly.

In this paper, we use retail banking as an example to explore how a ‘continuous learning’ approach can shape customer centricity and provide better customer experience.

We examine how interaction data generated through digital channel feedback between a bank and customer can be utilised to generate this continuous learning with an AI technology like Reinforcement Learning.