CanadaFinance and insurance2023 – ongoingEQ Bank
Adoreboard AI analysis of customer feedback and a Trust Metric
EQ Bank used Adoreboard AI to score trust in customer feedback, then raised its Trust Metric 8% and NPS 5% by fixing what customers raised
Problem
EQ Bank, the digital bank of Equitable Bank, received thousands of customer comments and analysed them by hand.
Approach
The bank deployed Adoreboard's AI platform, which reads the emotional intensity in each text comment and turns it into a Trust Metric. EQ Bank also used it to model how fixing issues across touchpoints, from onboarding to mobile satisfaction, would affect its Net Promoter Score. The bank then acted on the concerns customers raised.
Results
Takeaway
The AI located the trust problems and estimated their effect. The score gains came from the fixes the bank made.
Categories
- Industry
- Finance and insurance
- Business function
- Customer serviceMarketing and sales
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and ML
- Adoption
- Vendor solution
- Evidence
- Vendor case study
Sources
Source summaries
A repost of Adoreboard's release on how EQ Bank replaced manual feedback analysis with its AI platform. It reports the Trust Metric up 8% from May 2023 to May 2024 and NPS up 5% since October 2023 after the bank acted on customer concerns.
Full details are in the original sources.
