Our client is the U.S. consumer and commercial banking arm of a $2.5 trillion global financial services firm. They serve nearly half of all American households offering personal banking, small business lending, financing, credit cards and investment services.
As customer centricity steadily gained importance in a rapidly progressing digital era, the bank was continually revamping and re-thinking digital strategies—moving digital channels from being information carriers to vital ways to attract, acquire and engage customers.
Over the past 15 years, Virtusa Digital has been their leading provider of digital services, helping the bank transform the mobile banking industry and reinvent their online presence, while creating a robust digital marketing platform, authenticated treasury site and a personalized rewards and loyalty credit card program.
Virtusa Digital has been a core part of the digital and marketing teams' ongoing effort to change the brand's image from "my father's bank" to one that's modern, feature-rich and digital-first. We worked on the initial mobile launch for the bank and helped implement one of the world's first mobile check deposit capabilities. Now in its third generation, we've helped the bank introduced sophisticated features like photo bill pay, peer-to-peer payments as well as its latest mobile wallet solution.
After 2008, the bank worked hard to change its image from a Wall Street firm to a more local, personal bank. Realizing that consumers intersect with the bank at many points, and from many points of view, they embarked on an ambitious re-imagination of their dot-com presence with a site that was content-forward and responsive across desktop and mobile platforms.
The site was re-platformed using Adobe Experience Manager and integrated with Analytics and Digital Marketing Platform to deliver engaging experience and personalized offers to potential and existing customers. The platform enables business and marketing teams to publish latest product information and offers across channels with no involvement from IT. All fueled by an advanced digital platform that reduced time to publish content, provided user insights, simplified workflows and improved consistency across experiences.
With Virtusa' help, the bank was able to accelerate website development and increase business opportunities. Today, the bank's brand equity has improved with a consistent identity across the enterprise and consumer experiences. Their loyalty site was recognized as the top loyalty program in the retail banking industry.
Monthly site visitors jumped by 67% after the launch of the new web and mobile sites. Over 25 million customers enrolled since the launch of the new loyalty program with close to 2 million monthly visits. The increased personalization resulted in 20% more click through and 12% more conversions in the first six months of launch. The budgets for loyalty management reduced by 30% by shifting spend to digital marketing.
The flexible, scalable website architecture allows for fast, easy site enhancements and real-time content updates. Site performance as reported by Keynote Banking Ratings has improved from 97-98% uptime to close to 100% uptime, saving the bank millions of dollars, while site traffic and repeat visits have improved.
The best part is the bank has now taken its place as one of the more forward-thinking and customer-centric institutions in the marketplace. It’s no longer “your father’s bank.”