Most of us associate the words “digital transformation” and “customer experience” with marketing-driven industries such as media and publishing, e-commerce, retail and consumer packaged goods. But at Gigya, we’re seeing that it’s increasingly important for any business serving online users is able to establish personal relationships with their customers and provide them with a seamless and convenient digital experience.
It’s these relationships and experiences that are differentiating the winners in practically every market, including the crowded financial services industry. One customer’s recent Gigya project perfectly illustrates this point.
Our client, UK-based Satsuma Loans — successfully launched by Provident Financial Group’s Personal Credit division in 2013 — provides affordable short-term credit to its customers.
But after an initial proof of concept period of two years, there were some unaddressed customer experience issues on their site. Specifically, Satsuma had no means of identifying customers and allowing them to create and maintain online profiles, so there was no difference between a new and a repeat customer’s experience. This put the business at a disadvantage compared with competitors who were interacting directly with their customers over their entire lifecycle.
To enable registration and login functionality, the team at Satsuma began with a do-it-yourself approach, but the system fell short of the results they were hoping for. So Satsuma chose to implement Gigya’s Customer Identity Management platform, based on a recommendation from Adobe, a long-time Gigya partner whose products were already being used to manage the user experience on Satsuma’s site.
The results? Satsuma’s Gigya-powered registration system was up and running in three and a half months and delivered immediate business value, with 9,500 loans for a total of £4.5 million processed for registered customers within the first four months. Also, to the surprise of the Satsuma team itself, there was an overall increase of 20 percent in average loan value after implementing Gigya’s platform.
For more details about the planning and implementation process and the significant benefits our client experienced as a result of this project, download our case study now.
By David Kerin