• May 15, 2018

Enacomm Partners with FedFis on Banking Customer Solution

Enacomm is partnering with FedFis to leverage their extensive data on customer channel interactions and vendor integrations to provide financial institutions with empirical guidance on how to better control and target their technology decisions.

"FedFis is the only company with sweeping financial and vendor data on every bank and credit union across the U.S., and no other company collects in-depth data on customer service channels usage by bank customers and credit union members like Enacomm," said Enacomm CEO Michael Boukadakis in a statement. "Knowing what one's customers are doing across interaction channels and what one's peers are spending across interaction channels and then being able to evaluate these metrics relative to each other is an extraordinary opportunity for financial institutions.

"Not only can we provide metrics to a bank or credit union that reveal what its mobile banking application adoption is, for instance, compared to its other customer interaction channels, we can also shed light on how its technology spend for that mobile banking app compares to its industry peer group, as well as which vendors and products its peer group is using most often. This information enables a financial institution to determine whether it's spending too little or too much on each customer service technology channel," Boukadakis added.

Enacomm tracks customer interactions in online, mobile, and conversational banking (via digital assistants like Amazon Alexa or Google Home) as well as interactive voice response systems. Enacomm reports in real time on who is conducting the transactions and which specific actions they are taking during each interaction.

FedFis positions the engagement data Enacomm provides into measurable context. The partnership allows U.S. banks and credit unions to drill down and compare feature-to-feature customer service technology spend with other financial institutions in their peer group.

"The science of big data continues to evolve, which fuels the growth of its benefits," said Tanner Mayo, president of FedFis, in a statement. "We immediately recognized the significance of what Enacomm is doing for its bank and credit union customers and are excited to team up in order to extend the value of our full-picture industry analytics. Only through this partnership can financial institutions sit in the cockpit and determine, with accurate instruments, what level of spend on each technology channel maximizes ROI and customer satisfaction. It's a true competitive advantage."

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