Many companies have focused on improving their customer service in order to get ahead in the current competitive climate. But for Danish bank Arbejdernes Landsbank, putting the customer first has been a top priority for over a century.
Recognised as the most customer-centric bank in Denmark, Arbejdernes Landsbank uses digital solutions to turn data into actionable insights. They allow data to better engage with customers and remain nimble in a rapidly changing landscape. AL is a people-first bank operating on remarkably forward-thinking platforms. This enables it to thrive in a world where speed is everything and the customer journey has to be nothing less than exceptional.
As Klaus Schwab, the Founder and Executive Chairman of the World Economic Forum, explains, “In the new world it is not the big fish which eats the small fish, it’s the fast fish which eats the slow fish.” For Arbejdernes Landsbank, being the slow fish has never been an option.
When global events led to many businesses shuttering their brick-and-mortar locations and struggling to adapt to the challenges of remote working, AL’s utilisation of digital solutions allowed it to pivot to a remote workforce in less than a week. And it’s that entire adaptable workforce – from IT to marketing – that AL tasked with providing answers to the question that drives its business: How can the customer journey be improved? What can we do better, and how can we do it? This attention to customer service has paid off in a big way for Arbejdernes Landsbank, who have won the customer satisfaction award 11 years in a row.
In 2019, Arbejdernes Landsbank acquired six times as many new customers as the next nine banks on average, proving that its team-based approach to customer service leads to big wins. Another success was introducing intelligent self-service solutions to onboard new customers. These self-service solutions turbo-charged customer satisfaction and further strengthened the bank’s customer-first reputation, which had spread far and wide.
In fact, over a 3-month period during which quarantine measures and an unstable economic landscape led to a shift in priorities and a general aversion to risk. And the amount of leads that AL generated within Salesforce remained virtually the same: customers were still leaving their banks to build a relationship with Arbejdernes Landsbank, even in tumultuous times.
The focus on the customer is what drives Arbejdernes Landsbank to big wins, and that focus is enabled by a range of Salesforce products, including Financial Services Cloud, Sales Cloud, Service Cloud and Marketing Cloud, which AL is leveraging to create seamless customer journeys.
Salesforce platforms not only help businesses like Arbejdernes Landsbank leverage data to remain agile and better engage with customers. They also offer a number of other benefits to financial service companies, enabling them to:
Offer a seamless, contextual service to clients
Supercharge productivity and collaboration
Leverage knowledge for guided conversations
Leverage the Salesforce Industries (FSC) data model to connect to Systems of Record
Leverage Salesforce Life Events to capture customer needs
Track relevant financial information such as accounts, goals and insurance policies, and act on the information empathetically
Route, score and collaborate on needs-based referrals
Leverage AI-powered insights
Provide excellent customer self-serve opportunities by leveraging Salesforce data models and service flows