Tier 1 U.S. Bank Optimizes Merchant Services with OvationCXM

About Tier 1 Bank

The merchant services line of business for a major U.S. Bank works with more than 200,000 merchants. It was operated through a referral model which limited the bank's visibility and understanding of the customer status and opportunities to deepen the relationship. When it chose to adjust its model to take more control over the merchant services customer journey, it leveraged OvationCXM's customer experience management platform.

Tier 1 Bank Challenges

The bank had a number of challenges related to the customer journey. Without solving them, they would not be able to optimize their CX and outcomes.

• Limited views into merchant activation and servicing

• Gaps in communication between the bank and its core processor, FiServ

• Slow merchant activation that led to slow sales commission payouts

• No clarity into merchant services churn issues

• Missed opportunities to boost profitability

How OvationCXM Helps

Our CX management platform gives the business lines of a bank powerful tools to fully orchestrate each step of a customer journey and the related internal processes, in real time.

• Consolidated views of the entire merchant services journey

• Tool to build customizable merchant activation journeys and internal workflows

• Real-time visibility and status updates

• Expanded customer support across channels including chat, mobile and virtual assistants

• ADA-compliant knowledge base to deliver needed information to support teams

• In-depth analytics identifying churn issues, trends, overall merchant services health

• Improved service governance