A Customer Data Platform (CDP) consolidates, integrates, and analyzes customer data to provide a deeper understanding of customer needs, enabling real-time personalization of offers. LiveBank, a leading sales and service platform, offers features that enhance the development and growth of CDP, while adhering to the specific requirements and regulations of the financial sector.
Table of Contents
What is a Customer Data Platform (CDP)?
A CDP is a system that centralizes customer data from multiple sources, making it possible to integrate, analyze, and generate insights from this information in one unified place. The primary goal is to create complete customer profiles, allowing businesses to personalize offerings and make more informed decisions. Core components of a CDP include:
- Data Collection: Information is gathered from various touchpoints—websites, apps, transactions, and direct interactions with customer service—whether through traditional or digital channels.
- Customer Segmentation: Data is analyzed to create segments based on behaviors, preferences, and purchase history. With AI tools, segmentation goes beyond demographic factors, diving deep into real-time behaviors.
- Personalization: Offers and recommendations are customized based on transaction history, spending habits, and expressed customer preferences.
- Data Analysis: The platform performs advanced analysis to predict future needs and optimize marketing efforts.
How Does LiveBank Support Building a CDP?
LiveBank empowers banks to engage with customers through various digital channels, collecting the critical data needed for a robust CDP. Here’s how LiveBank supports the development of an advanced Customer Data Platform:
1. Digital Engagement – Multi-Channel Customer Interaction
LiveBank provides a wide range of communication options, synchronously and asynchronously. Along with its native channels—chat, video, and audio—it integrates external platforms like WhatsApp, Messenger, and WeChat. A customer can start a chat, continue via a video call, and finalize the interaction in the mobile app. This multi-channel approach enriches the CDP with comprehensive interaction data, enhancing customer understanding and personalization.
2. Screen Sharing – Enhanced Collaboration with Customers
LiveBank enables agents and customers to share their screens, allowing for real-time support as customers navigate websites or apps. This feature provides agents with insights into customer behaviors, adding valuable data to the CDP and refining customer profiles.
3. Conversation Orchestration – Seamless Conversation Management
With LiveBank, conversations are consistent across channels, regardless of where they start or end. This approach ensures that every customer journey is well-documented and understood, crucial for personalization. Customizable routing and integration options allow for flexible interaction paths – be it video for sales or chat for support. This fluidity enhances the data flow into the CDP, offering more nuanced customer journey mapping.
4. Knowledge Management
LiveBank supports agents by providing access to both internal and external knowledge bases, from pre-set responses to AI-driven insights from organizational data (e.g., tariffs, regulations). This enables agents to resolve issues faster, ensuring higher service quality and contributing relevant data to the CDP for ongoing customer understanding.
5. Automation of Engagement
Through AI technologies like machine learning and natural language processing (NLP), LiveBank automates parts of customer interaction. Virtual assistants can provide personalized recommendations based on a customer’s interaction history, ensuring a seamless and consistent experience. This automation improves service efficiency and adds additional layers of data to the CDP.
6. Agent Desktop – Empowering Agents
LiveBank’s specialized agent desktops integrate with CRM systems, providing a full view of the customer’s interaction history, device type, and more. With deeper CRM integration, agents can also access data on the customer’s products and campaign interactions. This unified desktop enhances service quality while feeding valuable data back into the CDP for future personalization efforts.
7. Case-Based Management (CBM) – Efficient Case Handling
LiveBank’s Case-Based Management (CBM) system tracks customer issues from submission to resolution. Each case has its lifecycle, with interactions categorized and prioritized based on business rules or chatbot analysis. Real-time monitoring ensures efficient case handling, and the historical data feeds into the CDP for further analysis. Once a case is closed, the system can prompt customer surveys, collecting feedback for even more comprehensive insights.
8. Surveys as a Feedback Tool
Surveys are an excellent way to gather direct feedback, which complements the data within a CDP. After interactions, such as case resolutions, surveys can capture customer satisfaction (CSAT) and Net Promoter Score (NPS), providing valuable insights into service quality, brand loyalty, and overall customer satisfaction. This data can be broken down by interaction type, channel, or agent performance, identifying areas for improvement.
Conclusion
LiveBank supports the creation of a Customer Data Platform (CDP) by gathering data from multi-channel interactions—such as chat, video, and social media—helping financial institutions build a comprehensive view of their customers. This integrated data enables the development of detailed customer profiles, fostering precise segmentation and personalized offers. During interactions, agents have access to real-time data, allowing them to adjust communication dynamically. In this way, LiveBank contributes to the success of financial institutions navigating the digital transformation landscape.
