Comerica Ties Digital Banking Improvements to Customer Satisfaction

Comerica is a 168-year-old company and one of the top 25 banks in the U.S.

The results

  • Increased mobile banking satisfaction by 5 points

  • Improved overall satisfaction

  • Proved the case for ongoing digital strategy

About Comerica

It’s a point of pride at Comerica, a 168-year-old company and one of the top 25 banks in the U.S., that it puts improving the consumer banking experience at the heart of all company decisions. “It’s a core part of our doctrine, and a promise to our customers,” explained Kristy Brandon, SVP of eBanking Retail Products.

But today’s rapidly evolving customer behaviors and expectations are challenging their ability to keep pace. “Customers walk in our doors, log into web banking, or face ID into our mobile app — they don’t differentiate between those experiences,” Kristy shared. Comerica needed a data-driven strategy to address expectations and effectively meet new needs, especially around the digital experience.

The voice of customer was critical. A key Comerica metric had always been customer satisfaction. Unfortunately, Comerica had been capturing customer feedback from “many different parties and partnerships.” This included data from its customer service teams, comments on its mobile app from app stores, and other sources.

The bank lacked a cohesive picture of its digital experience because of small sample sizes and the fact that Kristy’s team felt that much of the feedback was skewed toward customers who had bad experiences.

Solution: Connecting improvements to outcomes

Comerica selected Verint Predictive Experience as its digital strategy partner. According to Kristy, the move would give the team “more granular and statistically sound data” to help make critical business decisions and validate investments.

With Verint Predictive Experience, Comerica began measuring several customer touchpoints across web and mobile banking experiences. These insights gave Comerica answers to key customer experience questions that would inform its ongoing digital strategy (see below).

CX in Action:

  • Comerica learned that younger customers were significantly less satisfied than the rest of its customer base. “We had to look at our strategy to make sure we were addressing the concerns and needs of this particular group.”
  • With Predictive Experience’s causal, predictive analytics, Comerica could now predict which enhancements would provide the greatest lift in customer satisfaction “versus being tolerable without it impacting their experience or satisfaction.”
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CX Results: Measurement and validation

Comerica also uses Verint Predictive Experience to provide a pre- and post-launch review of any major experience changes. “We can see exactly how those changes affect the customer experience and if we’ve done a good job,” said Kristy, “then statistically see those improvements.”

In one example, Verint Predictive Experience helped identify Task Process and Navigation as top mobile banking priorities to address. The resulting mobile banking upgrade resulted in a 5-point increase in satisfaction.

Immediately after the launch, Kristy’s teams monitored customer verbatims and sentiment on an hourly basis. They reported results to an executive management team to share in real-time how changes impacted the customer experience.

Sharing customer voices and increases in satisfaction levels helped Kristy prove the business case for ongoing investments in Comerica’s mobile strategy.

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Continuous digital experience benchmarking

Finally, Comerica uses Verint Predictive Experience’s comprehensive benchmarking capabilities to compare its own performance over time and across channels, as well as against peers and best in class.

For example, it can see when areas outside of digital are directly impacting satisfaction with its desktop or mobile banking experiences. “This helped us realize we need to have better communication across the bank regarding our projects,” explained Kristy. As a result, Comerica worked with Verint Predictive Experience to identify pain points and address improvements in the contact center.

Like most Verint Predictive Experience clients, Comerica relies on over 600 Verint Predictive Experience benchmark categories to compare itself against other banks and other verticals for its digital banking experience and beyond. As Kristy noted, “Customers are not really comparing us to other banks, but to other experiences they have.”

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