Rabobank Transforms into a Digital Banking Leader by Partnering with Genesys
Dutch financial services company increases customers’ satisfaction and scale using the digital and AI innovation of the Genesys Cloud platform
SAN FRANCISCO, April 6, 2023 /PRNewswire/ — Genesys®, a global cloud leader in experience orchestration, today announced Rabobank, a leading customer focused cooperative bank in the Netherlands, has successfully transformed into a digital banking force using the Genesys Cloud™ platform. By evolving away from disconnected on-premises solutions and embracing a cloud-first customer experience strategy, Rabobank created a novel conversational banking service model for the Dutch market.
Consistently delivering excellent customer experiences is integral to success at Rabobank. Yet, siloed operations due to legacy on-premises products meant its contact center teams didn’t have a unified view of the customer and couldn’t capture meaningful real-time data. Essential requirements like internet protocol telephony, routing and reporting were complex and difficult to manage, compounded by an increased demand for service.
"We were seeing rising call and chat volumes, resulting in longer queues and wait times," said Thom Kokhuis, head of conversational banking at Rabobank. "Some of that traffic could be basic inquiries like checking balances, calls about debit or credit cards or reporting lost cards."
Orchestrating seamless experiences with Genesys Cloud
To gain scale and meet consumer expectations for fast, personalized service, Rabobank moved to the all-in-one Genesys Cloud solution to support 15,000 users across 80 departments.
Leveraging the solution’s extensive artificial intelligence (AI) and automation capabilities, Rabobank now has the technical foundation to orchestrate seamless customer and employee experiences across self and human assisted interactions. The composability of the Genesys Cloud platform also increased Rabobank’s velocity of innovation, giving it a competitive edge.
"We wanted a partner with a native cloud solution built from the ground up, rather than an on-premises product repackaged for the cloud," said Kokhuis. "We needed a strategy that leaned toward DevOps wizardry and rapid innovation with open application programming interfaces and a microservices architecture."
Digital first banking produces key outcomes
Today, Rabobank offers a new conversational banking service model that runs entirely on the Genesys Cloud solution.
"Conversational banking is about intelligently steering customers to the most suitable digital channels like our app, 24/7 virtual assistant, asynchronous messaging tool or instant video calls," said Kokhuis. "Ensuring they move seamlessly and friction-free between those channels is equally important."
Personalization and reducing customer effort was a top priority for Rabobank. Shifting from voice to digital-first conversational banking has resulted in greater convenience and customer satisfaction rates of 90% and above for digital channels.
The bank achieved this by introducing two virtual assistants via the Genesys Open Bot connector that answers approximately 45% of all questions around the clock. Rabobank also implemented new channel strategies, resulting in a 5% increase in web messaging volume, which is more efficient than call handling and allows agents to serve more customers without increasing headcount.
"Our advisors can easily switch from a phone call or web messaging and escalate to a video conversation in a single click," added Kokhuis. "We arrange around 12,000 video calls with customers each month, often for emotional life events, such as buying a new house or dealing with a bereavement."
The bank’s new cloud contact center platform has advanced its resilience and agility — significantly reducing cost and risk for the business, clients and employees — and positively impacted top and bottom lines as well as KPIs.
"In today’s experience economy, businesses must have the cloud and digital technology infrastructure in place to orchestrate effortless experiences people now expect," said Olivier Jouve, chief product officer at Genesys. "Through Genesys Cloud, Rabobank is transforming its operations and executing new ideas, positioning itself as a digital banking leader changing the customer experience landscape."
With a mission to create a positive influence on people and society through financial services, Rabobank’s operations comprise of 84 branches, a central organization and specialized international offices. As a cooperative bank, it serves retail and corporate clients in the Netherlands that focus on the global food and agriculture sectors.
Every year, Genesys orchestrates billions of remarkable customer experiences for organizations in more than 100 countries. Through the power of our cloud, digital and AI technologies, organizations can realize Experience as a Service™ our vision for empathetic customer experiences at scale. With Genesys, organizations have the power to deliver proactive, predictive, and hyper personalized experiences to deepen their customer connection across every marketing, sales, and service moment on any channel, while also improving employee productivity and engagement. By transforming back-office technology to a modern revenue velocity engine Genesys enables true intimacy at scale to foster customer trust and loyalty. Visit www.genesys.com.
Rabobank is an international financial services provider operating on the basis of cooperative principles. It offers retail banking, wholesale banking, private banking, leasing and real estate services. As a cooperative bank, Rabobank puts customers’ interests first in its services. Rabobank is committed to being a leading customer-focused cooperative bank in the Netherlands and a leading food and agri bank worldwide. Rabobank employed 45,415 FTE per 30 June 2022. Rabobank Group is active in 38 countries. For more information about the Rabobank Group go to www.rabobank.com.
Genesys empowers more than 7,500 organizations in over 100 countries to improve loyalty and business outcomes by creating the best experiences for customers and employees. Through Genesys Cloud, the #1 AI-powered experience orchestration platform, Genesys delivers the future of CX to organizations of all sizes so they can provide empathetic, personalized experience at scale. As the trusted, all-in-one platform born in the cloud, Genesys Cloud accelerates growth for organizations by enabling them to differentiate with the right customer experience at the right time, while driving stronger workforce engagement, efficiency and operational improvements.