Banking is one industry which needs to maintain a constant contact with their customers. Social Media in such a case is extremely useful. It provides access to a huge customer base aggregated in a single place. Simplify360, helps banks listen to what the customers are talking and where, to make sure the company keeps their communication on a constant check. Here's how it is done.

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Simplify360 for
Banking

2. www.simplify360.com

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Listen Analyze Act Measure
Analyze the
conversations and
discover the context.
Identify influencers
and loyal customers.
Act on priorities and
engage with customers
and influencers to build
your brand reputation.
Measure your reach,
engagement and influence on
social media. Gain insights to
optimize your action.
OUR SOCIAL APPROACH
Listen to social media buzz
around your relevant
brand keywords and
industry keywords.

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HOW CAN SOCIAL MEDIA LISTENING HELP ?

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Image Source: http://www.tribalcafe.co.uk/social-­media-­marketing/social-­media-­management/
Social Media Listening is the Foundation for any Social Media Activities.

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Simplify360 has a case
study ready to prove the
usability of the system and
its benefits.
Simplify360 was selected in
one of most prominent Social
CRM competition “CRM IDOL
2013”.
Simplify360 has a strong
partnership with the leading
BPOs and Software
integrators.
Simplify360 has been
featured as Leaders among
Analytics Product Companies
by Frost & Sullivan and
NASSCOM.
But first, Why Simplify360 in brief.

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Listening
• Simplify360
can track
conver-sations
across all the
popular social
networking
sites, along
with over 500
million blogs,
news and
discussion
forum.
Intelligent
Prioritization
• Simplify360’s
intelligence
routing and
prioritization
technology
can
automatically
identify the
threat and
assign to the
concern team.
Case
Management
• Simplify360
consists of
user-tested
workflows and
case handling
capability
which will
allow agents
and super-
visors to effic-
iently handle
new cases.
Performance
Reporting
• Simplify360 is
equipped with
an analytics
capability to
deliver real-
time
performance
reports and
customer
insights.
Integration
• In addition,
Simplify360
has open API
framework
which makes it
easy to
integrate with
other
software.
Simplify360 is technologically equipped to solve this challenge

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Command Centre – Functional Flow

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OUR APPROACH

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10
The objective is to assess Banks's overall
performance on social media and help
the brand to enhance its customer
Satisfaction and to enable it to lead on
social media compared to its competitors
Business need
We use Social Media tools and human
analysis as a good indicator to analyze
consumer insights for finding the key
concern areas of brand and customer
analytics helps brand to enhance loyalty
Our approach
• Based on the parameters like severity of negativity,
Virality of complaint etc, alerts are prioritized and sent to
the concerned stakeholders
CUSTOMER ANALYTICS: GENERATE ALERTS AND ASSESS CHURN RATE
• Brands performance on social media is assessed vis-­à-­
vis its competitors. Performance of Brand across all the
social platforms is analyzed. Metrics like Brand Affinity &
Exclusivity helps in uncovering much better insights at
the industry level
COMPETITIVE ANALYSIS:
• Social media conversations of the bank were tracked
across the channels. This buzz is used for assessing the
brand health on week on week basis
SOCIAL MEDIA LISTENING
Human Filtering of Noise
• Semantic analysis used to stack up the consumer
conversations across the complaint categories. Location
of complaints buzz helps in much granular analysis
CONSUMER INSIGHTS: ANALYSIS OF COMPLAINTS
612
412
524
424
189
128
96
84
68
74
36
41
36
23
23
23
412
512
365
86
164
89
94
64
56
26
24
32
23
21
21
16
213
326
121
69
32
32
41
32
32
12
32
21
21
19
14
5
132
89
269
116
32
94
29
29
7
30
30
14
14
31
1
15
NCT
Maharashtra
Karnataka
Tamil Nadu
Andhra Pradesh
Haryana
West Bengal
Uttar Pradesh
Gujarat
Punjab
Delhi
Kerala
Madhya Pradesh
Bihar
Rajasthan
Assam
Customer Service issues Internet Speed Issues
Billing Issues Network Issues
others
Our 4 step approach to enable banks excel in customer satisfaction

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SOCIAL MEDIA LISTENING

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0
100
200
300
400
500
600
28-Sep 30-Sep 2-Oct 4-Oct 6-Oct 8-Oct 10-Oct 12-Oct 14-Oct 16-Oct 18-Oct 20-Oct 22-Oct 24-Oct 26-Oct 28-Oct
Buzz trend
Data for 28th September – 28th October 2014, Source: Simplify360
4,629 MENTIONS
Steve King’s card used fraudulently.
His tweet retweeted 2K times and
has 142 Million impressions
Fraudulent usage of the credit card of an influencer has gone viral. As a result the perception towards the bank has taken a beating.
Banking sector
reform in the
news
Illustrative data only

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CONSUMER INSIGHTS: ANALYSIS OF COMPLAINTS

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51.6%
22.6%
12.1%
8.9%
4.7%
Customer Service
Technical Issues
Fee Structure
Card Issues
Account Related issues
Based on Sample Analysis. Percentages could add up to more than 100 as a message can have more than one theme
Sample size (N) = 191
Exhibit: Most common types of complaints
Customer service complaint is the most predominant. Complaints on online banking includes problem with OTP, website not
accessible, account locked, etc. Break ups of the types of complaints is given in the following slides.
Customer service issues most predominant
Illustrative data only

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Customer
Service, 51.6%
Technical
Issues, 22.6%
Fee Structure,
12.1%
Card Issues,
8.9%
Account
Related issues,
4.7%
Break up of customer service issues
Poorservice
Long
time
on
phone
Long
time
to
resolve
Notreceived
a
phone
callaspromised
Expensive
phone
call/NotW
illing
to
callbank
Unhelpful/incompetentstaff
Branchclosed
earlier/closed
O
thers
23%
20%
15%
14%
7% 7%
3%
11%
Exhibit: Most common types of complaints
Most common types of complaints in Customer service
Illustrative data only

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45%
13%
5%
5%
3%
3%
3%
Online banking
issues
Mobile App not
working
IOS App Issues
Windows App
Verified by visa is
pain
Security flaw
Online purchase
not available
Technical issues: Types
46%
33%
13%
4%
4%
Wrong
deductions
Unfair/high
charges
Overdraft
charges
Wrong transfers
Late payment
by bank
Fee Structure issues: Types
40%
13%
13%
13%
7%
7%
7%
Long time to send a
card
Card declined
Not able to sort card
issues
contact less
cards/debit cards not
issued
Problem with the card
Wrong Card sent
Card going to expire
Card related issues: Types
18%
18%
12%
12%
9%
6%
6%
3%
3%
12%
Longer time taken to
resolve
Longer time to process
Fraud/Security issues
Long time to open/close
an account
rejection of
Mortgage/loan
statement not sent
Reason not specified
PIN not sent after 2
weeks
longer time to clear a
cheque
Others
Account related issues: Types
Break up of other types of issues
Illustrative data only

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CONSUMER INSIGHTS: ANALYSIS OF COMPLAINTS

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Responding to the most important cases can help retain those high value customers
Respond to complaints
based on priority of
Customers value
CUSTOMER PROFILING CONTACT CENTRESOCIAL MEDIA DATA
Medium
Low Medium
Complaints
& Issues
High value
customers
Customerlifetimevalue
Probability of switching
USING CUSTOMER ANALYTICS TO MITIGATE AND RETAIN CUSTOMERS
Simplify360 prioritization algorithm

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The Case Severity Score at theme level for the various social media buzz can be used to prioritize and sort out the
complaints. Based on complaint types and customer profile, the complaints can be further analyzed and a Customer
Vulnerability Score can be associated at a customer profile level
Virality
Negativity
Case Severity Score (CSS)
(Complaint Type Level)
Complaints & Issues posted
on Social media
CORRELATE &
REGRESS
Virality
Negativity
Frequency
Customer Vulnerability Score (CVS)
(Customer Level)
Proactive monitoring to identify
• lead indicators
• potential risk profiles
Customer
profiling for
highly correlated
issues
Proprietary model
Parameters for calculations to be standardized
Lifetime value
Probability of
churn
Automated prioritization helps in responding to what matters most

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20
Negativity Alerts: Critical Issues
AREA DATE MESSAGE ISSUES MEDIA OUTLET CUSTOMER CVS REASONS
NCT, New
Haven Hotel
19th
Sep
2013
@CustomerHelp we r not happy with
your call centre and the way you keep
intruding in our privacy. will
discontinue using this bank
Intruding in
privacy of
customer
Twitter
@Arunsingh
al
4.2
High
probability
of leaving
Uttar
Pradesh,
Greater
Noida
19th
Sep
2013
@CustHelp - worst decision to apply
for account. Account not active for 2
days.No one has a clue what is the
issue.
Account issues
Twitter @chuchusax
ena
3.9
N/A
12th
Oct
2013
Unable to use netbanking. Server
always under maintenance. Worst
Bank.
Netbanking issues
Twitter @RajRocks0
7
3.4
Maharashtra
, Mumbai
17th
Sep
2013
Please do something unnecessary
deduction from my account. It is my
money.
Wrong deductions
Twitter @bigfish00
9 3.2
Business need Our approach
The objective is to inform the bank about
those issues which are over the tipping point
so that they can engage with the customers
and resolve them
Conversations related to consumers who
are extremely disappointed and planning to
move/port out can be assessed and alerted
to the stakeholders
Automated tagging on commonly occurring themes of complaints
Illustrative data only

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COMPETITIVE ANALYSIS

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SHARE OF BUZZ ANALYSIS
87.50
75.00
62.50
50.00
37.50
25.00
12.50
HDFC ICICI Kotak
Mahindra
Axis Bank SBI Citibank India Standard
Chartered
India
FACEBOOK FANS: SHARE OF VOICE TWITTER FANS: SHARE OF VOICE YOUTUBE SUBSCRIBERS: SHARE OF VOICE
14%
3%
0%
44%
5%
16%
18% HDFC
ICICI
Kotak
Mahindra
Axis Bank
SBI
Citibank India
Standard
Chartered India
20%
36%
0%
19%
13%
4% 8%
HDFC
ICICI
Kotak Mahindra
Axis Bank
SBI
Citibank India
Standard
Chartered India
19%
41%
0%
11%
1%
24%
4%
HDFC
ICICI
Kotak Mahindra
Axis Bank
SBI
Citibank India
Standard Chartered
India
HDFC Bank led in most aspects
Illustrative data only

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Apply for demo now!
Found interesting?

24. www.simplify360.com
Simplify360, is a leading Social Business Intelligence Firm.
Our latest offerings are Social Marketing Suite for agencies, Social Contact Center for
BPOs and Social Command Center for Enterprises.
We enable businesses to perform Online Reputation Management, Customer Service,
Community Management, Social Media Research & Brand Auditing; Online Sales Lead
Generation, and Consumer Sentiment Analysis.
We serve leading companies including Viacom18, Star TV, Mahindra Retail and ITC
Foods, Yamaha and Tata Sky.
Simplify360 operates directly or through partners in the US, India, Malaysia, Korea,
South Africa, Saudi Arabia and Brazil.
If you are interested to know more about Simplify360 and its offering, you can contact us
at contact@simplify360.com
About Simplify360
US Headquarter:
1330, Capital Parkway,
Carrollton, TX 75006
Phone : 347-468-7251
India:
3rd Floor, 7/1 Binnamangala,
100 Feet Road, Indiranagar,
Bangalore 560038.
Phone : +91 80 40971130
Address

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