Banking

Royal Bank of Scotland Uses Data Power

The Royal Bank of Scotland Group (RBS) is using the power of data to achieve its goal of being the UK’s number one bank for customer service, trust and advocacy by 2020. Driven by the desire to do the right thing for customers, RBS is using data to transform its organisational processes and improve employee engagement so it can focus on customers’ needs and services.

By tackling the bank’s biggest challenges with analytics from SAS, a leader in analytics software and services, RBS is able to make decisions designed to drive improvements in its multi-channel banking experience based on accurate and timely insights. RBS provides financial products and services to personal and business customers throughout the UK. As a data-driven organisation, the bank recognises that its data holds the potential to provide invaluable insights that can revolutionise the way in which it connects with its customers.

Data Mining
The bank uses SAS to mine data, enabling it to understand context and the correlation between different data sets. The platform includes SAS® Visual Analytics, which enables analysis of very large data sets through an intuitive interface, and is currently being rolled out to over 10,000 users. RBS’s data-driven approach delivers benefits including:

  • Personalised experiences– RBS has created better personalised connections with its customers based on conversations across its customer channels and touch-points. By analysing and understanding its data better, its employees and customers are having more personalised and valuable conversations be it online, face-to-face or over the phone, resulting in improved customer experience.
  • Employee transformation– Armed with visibility into common themes behind agent errors, RBS identified that a significant portion of complaints came from agents that had been in post for less than a certain timeframe. To improve the customer experience and reduce complaints, RBS is now offering personalised coaching to individual team members and frontline colleagues in identified areas.
  • Connected complaints – By analysing big data, including unstructured and textual data, RBS has a much clearer picture of complaints to deliver a faster resolution for customers. For example, a customer that isn’t able to cancel a direct debit within 24 hours may be satisfied with the service that an agent delivered but unhappy with the process. By having the relevant data available in a single dashboard, RBS is able to identify the issue and respond with improvements to the process, branch or team.

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