As a digital-only digital banking platform, BankMobile was looking for a solution to establish an improved customer relationship and increase the overall customer experience. In addition, they were in search of a solution to answer all of the customer FAQs without increasing the work load of the frontline staff and subject matter experts.
“We have created a proactive banking experience utilizing data and technology to transform banking to be free from fees, while reaching the underbanked to make their financial footings stronger,” said Luvleen Sidhu, Chief Strategy and Marketing Officer of BankMobile.
SilverCloud enables banks and credit unions to leverage their investments in technologies by elevating the adoption and customer experience of those technologies. By creating a digital support center with SilverCloud’s Consumer Enablement solution, BankMobile was able to create a complete customer experience for self-service without the expense of a physical branch. Not only are customers able to locate their answers quickly and easily, but this also lightens the load for the bank’s call center to partake in a more meaningful conversation and address complex issues.
Providing customer self-service, SilverCloud’s Consumer Enablement solution integrates across a bank or credit union’s Internet and mobile banking channel answering over 95 percent of consumer questions instantly. As a result, banks and credit unions are able to eliminate a large number of the frequently asked questions that clog up a banks and credit unions’ call center and also centralize all digital inquiries. Additionally, SilverCloud increases product engagement and calls-to-action to increase loan growth and revenue without increasing headcount.
“SilverCloud makes our customer experience effortless,” said Sidhu.
Post implementation, SilverCloud’s Consumer Enablement solution was able to instantly answer over 1,100 customer questions per week or around 4,400 questions per month in BankMobile’s digital channel, without consumers having to call in to the call center. In addition, BankMobile is saving on average, $22,045 a month, while improving customer experience without increasing employee headcount.
“SilverCloud is the Google of banking; the answer is there before you’re even finished,” said Sidhu.
Established in 2015, BankMobile, a division of Customers Bank, is America’s first no-fee, online and mobile banking platform with its headquarters in New York. It provides target customers – millennials, the underbanked and middle income households – a digital, effortless, and financially empowering experience. BankMobile offers checking, savings, lines of credit, joint accounts and access to over 55,000 surcharge-free ATMs nationwide (BankMobile VIP customers have free access to every ATM in the country, which is more than 400,000 ATMs), a guaranteed higher savings rate than the top four banks in the nation, a personal banker for all customers, and a free financial advisor for VIP customers. Customers Bank is a Federal Reserve regulated and FDIC-insured commercial bank. Customers Bancorp is the bank holding company for Customers Bank. BankMobile is an independent operating Digital Banking Division of Customers Bank. For more information, please visit www.bankmobile.com.
Portsmouth, NH-based SilverCloud is the self-service solution for premier banks and credit unions. SilverCloud harnesses the power of technology, specialists, and industry insights and expertise delivered via Digital Enablement to help financial institutions successfully and effortlessly compete in the digital age. Successful banks and credit unions utilize SilverCloud to improve service and increase productivity that leads to more growth. For more information, visit www.silvercloudinc.com.