More communication and less formality has a real business impact
Bankia solves the problem of customers navigating complex personal loans and mortgage products by introducing WhatsApp support. As a result, Bankia sees customer satisfaction soar and an increase in qualified leads. The sky's the limit for this innovative bank.
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About Bankia
Bankia is the fourth largest bank in Spain. It provides banking services to businesses, consumers, and investors, including asset management and insurance services. Bankia differentiates itself through its customer-centric approach. With more than 58.8% of customers managing services through digital channels and 40% of sales coming via digital, Bankia has long seen the value in being an innovative digital-forward organization.
Challenge
Bankia wanted to increase customer satisfaction and business impact by providing customers with a way to ask questions about complex products like insurance options and mortgages, without increasing stress on existing call center resources.
Problem
As part of its customer-centric approach to banking, Bankia understood the importance of meeting customers on the channels they prefer. However, customers could only use the webchat if they were logged in to Bankia’s app or website. As a result, they were missing opportunities to create a frictionless experience.
Goals
The primary objective for Bankia was not to close the deals as soon as possible, but instead to increase the customer satisfaction rate while customers were researching products.
Project objectives
Increase customer satisfaction compared to existing channels
Improve customer service efficiency by automating parts of the customer journey
Drive qualified leads to sales channels for further nurturing
Tailored design solution
Seamless Communication
Bankia saw WhatsApp as a way to allow both existing and potential customers to contact Bankia without the need to log in or download an app. With messenger, the experience is seamless, personal, and in-line with Bankia's mission.
Scalable and compliant
The scalable nature of the WhatsApp business API means that alongside Hubtype’s ability to integrate with critical business applications and securely centralize customer data, it would remain GDPR compliant.
Flexibility and speed
Hubtype’s open-source technology provides Bankia’s team with the maximum flexibility, something that’s extremely important when starting with an entirely new set of channels. Bankia also set up protocols to ensure that all the messages received on WhatsApp were answered promptly (under 2 minutes).
The results of our collaboration
Scaling with success
The conversion rate on WhatsApp was so good we knew we had to expand from mortgages to add loans also.
The preferred channel
Customers were also willing to reciprocate Bankia's warm, friendly, conversational tone. Resulting in 90% of customers stating that they preferred WhatApp to other channels. Bankia was the first WhatsApp-verified Spanish bank.
We turned our contact hub from a cost center into a revenue generator
Key results of our collaboration
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Join the leaders of the banking
If you need a fast, efficient overhaul of your customer service operations, Hubtype is the partner you’ve been looking for. Book a demo today to see how we can transform your business.