Contact Information: Allegiance, Inc. Company Contact: Thomas Oldroyd Director of Marketing (801) 617-8000 Email Contact PR Contact: Kevin Wilson (513) 898-1008 Email Contact
Banks and Credit Unions Agree on Customer Loyalty; Allegiance, Inc. Helps Financial Institutions Put Customers First
Financial Institutions Reduce Customer Churn With Actionable Insight and Real-Time Improvements Driven by Allegiance Active Listening System
| Source: Allegiance, Inc.
SALT LAKE CITY, UT -- (MARKET WIRE) -- January 11, 2007 -- One of the biggest challenges facing
financial institutions is reducing customer churn. Banks and credit unions
are constantly working to resolve this problem by focusing on building true
customer loyalty and
linking customer satisfaction and loyalty to operations. Numerous studies
conclude that quick problem resolution is key to creating loyal customers.
In fact, according to A.T. Kearney, a global management consulting firm,
"In order to increase customer loyalty, financial institutions need to put
customers -- not their products -- at the center of their strategy. They
need to look holistically at all aspects of their businesses and adopt
customer-centric mindsets and capabilities, compelling customer value
propositions, consistent and superior customer interfaces, and efficient
and effective fulfillment.
"Customer loyalty is about dialogue, about listening attentively and then
responding with insights, products and services that are both personally
and financially appropriate."(1)
Allegiance™ provides banks and
credit unions with a suite of feedback management tools that collects and
categorizes customer feedback, and then routes issues directly to the
responsible individual for quick resolution. Analytic and reporting tools
built into the system help measure and predict customer engagement and
attitudes toward the organization. This advanced system has proven to help
financial institutions put their customer firsts, thereby greatly reducing
churn while leading to increased profitability.
"For many financial institutions, the only time they hear from their
customers is when they are upset or about to leave," said Adam Edmunds,
president and chief executive officer of Allegiance. "Without consistently
measuring and understanding the pulse of their customers, it is difficult
for organizations to truly measure and cultivate customer retention and
loyalty. By implementing an advanced feedback solution such as our Active
Listening System, banks and credit unions will be able to identify specific
areas or programs that positively or negatively impact customer
experiences, and will have the information they need to directly connect
their efforts to improving customer loyalty."
CustomerVoice, one of
six solutions making up the Active Listening System, includes a
Ph.D.-developed loyalty survey that accurately measures the loyalty of
customers at a given time. Another solution, ActiveSurvey, is a powerful
Web-based survey tool that enables companies to conduct proactive,
comprehensive data gathering and analysis. Together, these tools allow
organizations to make quick, intelligent decisions regarding customer
issues.
Rob Brough, senior vice president of communications with Zions Bank
commented, "Allegiance has helped us create a more customer-centric
environment by making it easier to report problems, provide suggestions, or
ask questions. With all customer feedback rolling up to a single location,
we can better evaluate the information we receive, quickly determine the
appropriate action, and provide our customer with a timely response to
their concern. As a result, we've reduced response times from weeks to now
only a few hours. By actively listening to our customers and quickly
addressing their concerns, we are creating an environment where each
customer feels his or her account is the most important one in our
company."
CustomerVoice and ActiveSurvey provide real-time results in easy-to-read
charts and reports, and allow managers to quickly share and evaluate
feedback and survey responses. Once feedback is received
through CustomerVoice, bank management is given the power to appropriately
respond to the question or concern. The customer feedback can then become
the fuel to drive internal improvements, as well as the basis for
developing programs that are important to customers and create a
competitive advantage for the organization.
About Allegiance
Allegiance, Inc. is a provider of on-demand enterprise feedback management
solutions that help organizations improve customer and employee retention
and loyalty, and ultimately overall profitability. The Allegiance Active
Listening System (ALS) is a suite of software-as-a-service (SaaS) solutions
that allows organizations to collect real-time feedback from all points of
customer and employee interaction. The ALS then analyzes, categorizes and
routes the information to the person responsible for providing a quick and
appropriate resolution. The ALS is based upon proprietary methodology and
technology developed through university-level research and consulting with
leading organizations in the United States, Europe, and Asia. Allegiance is
located in Salt Lake City. For more information, visit www.allegiance.com.
(1) Jackson, Donald, "Financial Institutions and Organic Growth," Bangkok
Post, March 2, 2006