Text Analytics Software helps banks gauge customer satisfaction.

Attensity group May 20, 2011

Press Release Summary:

Retail Banking Industry Solution enables users to mine and analyze customer conversations in social media, email, SMS messages, survey responses, and CRM notes to drive business decisions and minimize chances of customer churn. Designed for use with Analyze and Respond, module uses customer data points to create category sets, topics, reports, and dashboards tailored to retail banks. It also runs analysis in 3rd-party BI applications including SAP Business Objects and Microstrategy.

Original Press Release:

Attensity Introduces Text Analytics Solution for Retail Banks

Solution Report Includes Analysis on Reasons Behind Bank Customer Churn

PALO ALTO, Calif. - Attensity, the leading provider of text analytics solutions for Customer Experience Management (CEM), today announced a new Retail Banking Industry Solution that enables financial services organizations to unearth actionable intelligence, such as intent to churn, hidden within the unstructured text of customer conversations. The new offering is designed to accelerate the implementation and ROI of the company's next-generation customer analytics and engagement applications.

The new module enhances Attensity's flagship multi-channel analysis product, Attensity Analyze, and its multi-channel service and engagement application, Attensity Respond, by leveraging tens of thousands of banking-specific customer data points to create out-of-the-box category sets, topics, reports and dashboards tailored to retail banking organizations. With the Attensity solution, business users can mine customer conversations taking place in social media, email, SMS messages, survey responses and CRM notes, and use that information to drive business decisions, enhance the customer experience and reduce customer churn.

"As a result of the recession, customers are increasingly frustrated with their banking choices, yet the fundamental reasons for that frustration are not always apparent. Using Attensity's deep analytics, we discovered that the surface issues are not always the true source of discontent," said Catherine van Zuylen, vice president of global product management at Attensity. "The Attensity Retail Banking Industry Solution will help banks identify the true reasons for churn and extract real business value from customer conversations. The new solution also provides new insights to product and service development teams that build loyalty and create up-sell and cross-sell opportunities."

The Attensity Banking Industry Solution, available now, extracts industry-specific terminology and issues that aid with analysis and categorization on numerous topics, and includes out-of-the-box reports, dashboards and reusable analytics for:

- Churn Analytics

- Marketing Campaign Tracking

- Competitive Analytics

- Survey Analytics

- Buzz Analysis

- Sentiment Analysis

- Customer Service

- Product Innovation, Suggestions Tracking

- Customer Behavior and Preference Profiles

- Customer Demographics

- Customer Engagement Response Queues

With industry-rich category sets designed to augment and modify packaged categorization to meet users' specific business needs, the solution offers the ability to run analysis in almost any third-party business intelligence application, including SAP Business Objects and Microstrategy.

Retail Banking Report and Webinar

Paired with the release of the new solution is an industry report, "The Real Reasons Why Customers Churn: Analyzing the Voice of the Customer in the Banking Industry." It provides an analysis of current customer conversations about the banking industry, including a detailed look at market reasons behind customer compliments and complaints. The report is available at www.attensity.com/wp-content/uploads/2011/05/RetailBankingIndustryReport.pdf. The report will serve as the basis for a June 2 webinar.

Attensity will demonstrate the new solution at the Text Analytics Summit in Boston this week, in conjunction with the new Attensity Analyze 6.0, the next generation in software applications for analyzing the Voice of the Customer. (See today's other announcement from Attensity.) At the event, Attensity customer Royal Bank of Canada will also discuss its use of Attensity text analytics to improve the customer banking experience.

About Attensity

Attensity(TM) helps the world's leading brands leverage customer conversations as a business asset. Using Attensity's integrated suite of customer analytics and response applications, organizations can tap the wealth of data stored in both internal and online sources, and use that information to improve the customer experience with their brands. Attensity's award-winning Customer Experience Management (CEM) solutions are built on a massively scalable text analytics platform that enables organizations to listen, analyze, relate and act on customer conversations, no matter where they take place. From its headquarters in Palo Alto, Calif., and Kaiserslautern, Germany, Attensity is powering the customer experience strategies of companies such as Charles Schwab, Citigroup, HP, JetBlue, Lloyd's Banking Group, Siemens, Starwood Resorts, Travelocity and Whirlpool. Visit www.attensity.com and follow the company at blog.attensity.com, on Twitter @Attensity, and on facebook.com/Attensity