CASE STUDY - Raiffeisenbank Russia
Raiffeisenbank: WhatsApp customer service channel reduces cost per contact by 10x
Founded in 1996, Raiffeisenbank Russia (RBA) is one of Russia’s most trusted banks. Specializing in the development of financial solutions for private and corporate customers both in and outside of the Russian Federation, the bank is now ranked the second most reliable in Russia by Forbes. Raiffeisenbank International group has more than 120 years’ experience in the banking sector globally, with RBA’s regional banking network present in 43 cities in Russia, with 173 branches across the country.
At the same time, the bank also recognized that their clients wanted to use different channels of direct engagement to avoid calling queues. Although Viber and Telegram were added as channels to the bank’s contact center to improve the customer experience, the bank wanted to integrate Russia’s most popular chat app into the platform: WhatsApp. For this, they needed a WhatsApp Business API solution provider.
This enabled the sending of transactional messages and time-sensitive notifications in a quick, convenient, and reliable way, while also allowing bank customers to communicate directly with RBA. The channel costs a fraction of the price of outbound toll-free numbers and was fast and simple to integrate.
After a successful first month using the channel, RBA fully integrated WhatsApp. This resulted in a 19% boost in their net promoter score (NPS) across all chat apps, clearly increasing the overall customer experience.
RBA has also observed that WhatsApp is four to five times more popular than other instant communications channels amongst its customers.
With the capacity for people to submit questions and receive answers in real time, WhatsApp has also helped RBA improve relations with potential clients and assist in the onboarding process.
Looking to the future, RBA plans on working with Infobip to introduce a WhatsApp chatbot that will help with FAQs as well as qualify customers who require additional support from a contact center agent.
Adding WhatsApp as a customer service channel proved to be a tremendous success - we increased our NPS score by 19% and reduced the costs associated with our contact center by 10-fold. The customers love it - they use it four times more than other instant communication channels.