Glassbox helped Bank Leumi boost website transactions by 11%

Case Studies 1. July 2021.

The Company

Bank Leumi is the largest major bank in Israel. Founded in 1902, it has expanded its service area to include 21 other countries across Europe, the Americas and Asia. Bank Leumi offers personal and corporate banking, credit cards, investment banking, asset and wealth management among other services, supporting its customers both online and via mobile app.

The Challenge

Bank Leumi was dealing with a high volume of calls to its contact center, as customers tried and failed in their attempts to complete a transaction online through their online self-service banking portal. The resulting calls were long which severely impacted Average-Handle-Time (AHT), a key performance indicator used to measure the efficiency and effectiveness of the contact center.

Furthermore, first call resolution (FCR) rates were low, with customers calling back and many calls being escalated to second- and third-tier customer support.

The Solution

To understand exactly why and when customers were electing to switch from the website to customer service, the bank decided to partner with Glassbox and implement the company’s Digital Behavioral Analytics and Customer Support Optimization solutions.

Finding the root-cause of friction

Just as the contact center records all calls, the bank leveraged Glassbox to automatically capture every mouse movement, click and form-fill for every online customer journey. These journeys were analyzed using Glassbox’s solutions in order to identify and pinpoint the root causes of known and unknown customer pain-points and barriers to self-service.

Saving time on error reproduction

Prior to Glassbox, the bank may have known about an issue, but it was not able to accurately reconstruct the customer’s online journey exactly as they experienced it in order to fix issues. Now with Glassbox, Bank Leumi can see both what the customer sees and what’s happening from the IT side. The bank’s engineering team has eliminated the need to reproduce 95% of all interaction and transaction errors, saving valuable time.

The Main Results


With Glassbox’s solution in place, the insights Bank Leumi derived and the actions taken as a result had a substantial impact on the bank’s bottom-line. Bank Leumi increased digital sales by 11% now that customer can interact and transact more easily online.

Significant pressure has also been alleviated for the contact center, with AHT down by 70% (from an average call of five minutes, down to just one and a half minutes) for customer support calls relating to website technical issues. Bank Leumi was also able to achieve a 20% reduction in escalations to second tier support.

Glassbox is now an essential tool for the marketing and web teams, enabling them to reproduce customer journeys and conduct in-depth root cause analysis into the customer journey. Known and unknown issues are discovered, investigated, and resolved, enabling the bank to be proactive in helping its customers to interact and transact with them online.

 

"Within 8 weeks, Bank Leumi received the fastest and most effective ROI with Glassbox, when compared to previous mobile technology implementations. We could not imagine better cooperation with a technology partner than the one we have with the Glassbox team."

Mobile App Product Manager at Bank Leumi


About Glassbox

Glassbox is a customer experience solution that enables companies to better understand their customers’ demands and struggles across all digital platforms. This GDPR-compliant solution automatically records all customer sessions on the website or app and creates dashboards with company-specific KPIs. Glassbox’s 100% tagless recording, intuitive real-time reporting and AI-powered analysis is a proven concept across industries where digital comes first. Besides SoFi, their existing clients include Singapore Airlines, John Lewis, SuperDry, Tracfone, Admiral, Hong Kong Express, the second largest telecom provider in the US, and six out of ten of the largest banks in the world amongst other industry leaders.

 


Additional Information

Homepage Glassbox
Case Study Glassbox & Bank Leumi

Contact us to learn more

Stay updated. Subscribe to the MMV newsletter