Glia Launches Unified Interactions Report and Index
Glia provides a new, unified way for banks and credit unions to define and measure the value created by comprehensive customer interactions.
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Glia, a provider of customer interaction technology, launched the Glia Interactions Index, a new way for financial services organisations to benchmark against similar institutions to quantify the efficiency, effectiveness and experience of their customer interaction strategy. Glia has also launched its first ever Unified Interactions Report based on this Index with nearly 15 financial services organisations contributing insights, helping to validate these benchmarks. The report provides actionable steps for how banks, credit unions and insurance companies can enhance how customers experience their brand.
In today’s interaction economy, customer interactions are where loyalty and revenue are made and lost. The Unified Interactions Index, based upon aggregated data from over 3 billion interactions between financial institutions and their customers, helps banks and credit unions to compare their performance against industry benchmarks across 13 success metrics and create a single composite score. This composite score gives a better picture of the health of a customer interaction program, instead of having to rely on CSAT alone. The benchmark data is uniquely offered for free by Glia, where it is normally only accessible through paid consultancy.
The goal is to provide a more modern, detailed understanding of the value created by customer interactions across all forms of communication and collaboration by connecting interaction metrics to tangible business KPIs.
The Index measures against the three primary goals of nearly all customer service, contact centre and digital teams in the financial services industry:
- Efficiency, which includes lowering the overall cost-to-serve, reducing average handle times and eliminating unnecessary live interactions.
- Effectiveness, which includes revenue generation, new account openings and increasing AUM or premiums.
- Experience, which includes CSAT, NPS and CES scores; customer loyalty; and customer lifetime value.
The Index integrates 13 different data points across these three categories to determine one unified, holistic performance metric, presented on a 0-100 scoring scale. From there, the experts at Glia are available to work with that financial services company to find immediate, easy areas for improvement, identify and understand their strengths and implement a more sophisticated way to measure performance and success moving forward.
