Ikano Bank is an international bank offering various financial products and services, including savings, loans, credit cards, and insurance. The bank focuses on providing simplicity and sustainability in its services and strives to build long-term customer relationships. Ikano Bank actively works to improve and develop its customer experience, with a focus on increasing customer loyalty.
Ikano Bank Aims to Improve Payment Rates and Customer Assistance Efficiency
A crucial customer group for all organizations comprises those who miss paying their invoices on time. Before collaborating with Wiraya, Ikano Bank had an in-house solution where its staff called customers who had missed paying their invoices on time.
"The challenge with our previous solution was that it often got deprioritized due to various other pressing matters. Additionally, significant planning was required, from retrieving lists to managing customer databases and planning internal resources. It was quite a process before we could contact our customers to see if we could assist them."
Therese Nilsson
Results of a New Communication Strategy to Reduce Late Payments
In collaboration with Wiraya, Ikano Bank established a new communication strategy targeting this customer group. The strategy focuses on proactively reaching out to customers who haven’t paid on time and are behind with their payments. Several communication flows were set up to handle different customer segments and touchpoints in the demand process, ranging from early, more proactive reminders to activating customers in later demand stages. The overarching goal of all communication flows is to help customers pay their invoices and ensure that those who need help are offered assistance.
"When it comes to the number of customers paying, we see better results compared to when we had students making the calls. But what we primarily see as an improvement is that we are much more resource-efficient internally. We've saved enormous resources at Ikano Bank. And because of that, we've gained a lot on the cost side. Our previous solution incurred much more internal costs for us."
Malte Berg
The goal of the communication strategy with Wiraya is to get more customers to pay their invoices on time while offering them a good experience and service.
"We've seen tremendous benefits and gains from collaborating with Wiraya."
Therese Nilsson
In addition to more customers paying on time, the new strategy has also had ripple effects in terms of follow-up and quality assurance. Previously, Ikano Bank experienced challenges in following up on the work.
"We now get statistics, we get follow-up, and we can do quality assurance completely differently. From a team perspective, we can now follow up, listen to the calls, and further develop our work. We now have a control that we previously lacked."
Joakim Månsson
Customer Perception of Pre-recorded Voice Calls in Communication
Ikano Bank finds that Wiraya’s communication strategy is less intrusive for the customer when discussing sensitive topics such as highlighting missed payments. It has also changed the customer experience to the extent that Ikano Bank now feels they can tailor the customer journey more than before. This has resulted in better effectiveness but primarily a better experience for the customer.
"Customers are more satisfied with this approach. They have a choice, and if they don't want to speak with us directly, they smoothly receive our contact information to return when it suits them."
Joakim Månsson
Ikano Bank's Strategy Success
Watch the video on how a new communication strategy helped reduce late invoice payments
Read more from Ikano Bank: New communication strategy to meet customers on their terms and increase KYC collection
