With a great deal of customer knowledge at their fingertips, why do retail banks get it so wrong when it comes to communicating with their customers? Read this Retail Banking Use Case to find out how Thunderhead’s ONE Engagement Hub can help retail banking brands with effortless customer engagement for happier customers. 

ONE for
Retail Banking

It’s no secret that retail banks know a great deal about their customers. Driven by stringent regulatory requirements to “know your customer” banks are able to capture information and construct profiles on their customers that traverse demographic, transactional and segmentation data.

But with all this knowledge at their fingertips, why do retail banks get it so wrong when it comes to communicating with their customers? Why do outbound campaigns regularly result in a series of emails, and other communications, about products and services that the recipient simply doesn’t need or want? And why don’t bank’s websites adapt based on the products a customer already has and the associated services that they might be interested in?

When you consider that internal departments still operate in complete silos, it’s little wonder that banks still don’t know exactly who their customers are or what they want, simply because there is no link between a customer’s interactions across channels. As a result, conversations between call centre agents or in-branch staff can be completely disjointed and poorly targeted because there is no shared record of information against that customer, based on each and every channel they have interacted with. This does nothing for consumer happiness and is a world away from helping build life-long relationships.

In a hugely competitive industry where disruption comes in many forms from price based wars with traditional competitors to the emergence of online and mobile only banks, not to mention the added high street competition from retailers such as Tesco Bank and M&S Bank, it’s clear to see that more can be done.

So, imagine the possibilities and advantages if retail banks could augment the profiles of each and every one of their customers in realtime.

Understanding what products and services their customers are interested in and use insight to explain the driving forces behind a customer’s desires, coupled with a clear picture of exactly where each customer is along their journey to fulfilling their need.

Imagine the power of such a profile on its own, but also imagine being able to harness that data, again in real-time, to change the experience of each customer as and when they interact with their bank, ensuring that they are spoken to relevantly, consistently and importantly, across any channel. Wouldn’t it be more rewarding for everyone if a bank’s website recognised an existing credit card customer and served them a service support message relevant to their product or an offer that the customer had recently discussed with a call centre agent, rather than a generic balance transfer off er. Well, Thunderhead’s ONE Engagement Hub (ONE) has been designed specifically to help retail banks do this…and more.


By listening and understanding, not simply tracking, ONE captures and uncovers individual customer insight, intent and behaviour, across every channel and in real-time. ONE then helps retail banks create individual experiences that deliver value to both the customer and the brand - serving the customer what they actually want. By doing this, across every channel and at all stages in a customer’s journey, a valuable, engaging and trusted relationship will develop – trust felt in the brand, trust felt by the customer that they are valued and treated as an individual wherever and whenever they interact with the brand. Engaged relationships such as these lead to greater loyalty, higher lifetime value, advocacy for the brand and customer satisfaction.

How ONE does this:

• By listening to key customer activity, across all channels, ONE delivers insight and knowledge to the business user to take action.

• As customers interact, ONE uses insight to select and execute, in real-time, relevant and useful conversations that will personalise a customer’s entire on and offline experience and the multiple journeys they take with a brand.

• Through its integration features, ONE delivers customer journey information, individual customer insight and next-best-conversations to the brand’s systems of record as well as to their customer facing teams in branch or at the end of the phone.

• We call it the ONE Engagement Hub for a reason, not only does it listen to customers as they interact with a brand but it listens to wider key customer activity from other systems.

With these capabilities ONE recommends the best way to talk to your customers by:

  • Understanding and analysing a customer’s journey; unearthing the vital insight that led a new customer to you in the first place, highlighting what worked or the reasons why someone dropped off or hit a bottleneck.
  • Presenting this insight to your sales, service and marketing teams; a customer’s in-the-moment desires are revealed, helping you talk to them more effectively.
  • Engaging our adaptive self-learning model, which helps brands deliver relevant and consistent conversations, based on previous customer interactions and responses to personalised experiences, to drive meaningful and valuable engagement with new prospects.

With this in mind, imagine the call centre experience when a customer is directed to the right agent who has prior knowledge of that customer’s research into the bank’s loan products, via the mobile app, informing them that this customer has already generated a quote for a specific amount.

Then imagine how that customer would feel when their next statement includes a follow-up message relating to their borrowing need and how streamlined the experience would feel when they walk in-branch and are met by a member of the team who is ready to help them with the right loan for them, based on all their prior interactions.

Our solution sits across the systems and technology that retail banks already rely on, and despite them not being designed with the omni-channel customer journey in mind, our engagement layer will unify all existing systems, helping the sales, service and marketing teams gain a holistic view of each and every customer to deliver consistent, valuable conversations every time.

The time is right for retail banks to ride the gravy train and effortlessly get to know their customer better, helping create longer-lasting and more valuable relationships.

Everyone talks about Customer Engagement but we wrote the book on it, built our solution to deliver it and this is how we define it:

An on-going, value driven relationship between a customer and a business, which is consciously motivated according to the customer’s reasons and choices.

About Thunderhead

Thunderhead’s intuitive ONE Engagement Hub joins up web, mobile, high street and contact center customer experiences, connecting them with your existing CRM system, giving you a multi-dimensional view of all your customers. It allows you to act on an individual customer’s needs in real-time.

Effortless engagement just got personal.

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