Extraco Banks and Consulting Take SWARM Banking® Digital
Customer Company Size
Large Corporate
Region
- America
Country
- United States
Product
- LiveEngage platform
- Jack Henry Banking Online and Mobile banking solution
Tech Stack
- Live chat technology
- Mobile engagement channels
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Digital Expertise
Technology Category
- Application Infrastructure & Middleware - API Integration & Management
Applicable Industries
- Finance & Insurance
Applicable Functions
- Sales & Marketing
- Business Operation
Services
- Training
- System Integration
About The Customer
Extraco Banks is a financial institution headquartered in Waco, Texas. Founded in 1902, it is a member of the Federal Deposit Insurance Corporation (FDIC). The bank has assets exceeding $1 billion, operates 19 locations, and employs over 400 individuals. In 2011, Extraco Banks formed a subsidiary corporation, Extraco Consulting, with a focus on people, products, processes, and technology. The consulting firm utilizes a unique, patent-pending retail banking methodology called SWARM Banking®. This approach involves employees 'swarming' to where the customer traffic is and taking each customer through the entire banking experience without handing them off to a colleague.
The Challenge
Extraco Banks was faced with the challenge of mirroring the customer experience in bank lobbies online. They wanted to ensure ease of implementation and ongoing management of their digital engagement platform. Protecting customer interactions and data was a top priority. The bank also wanted to integrate their digital engagement platform with their existing Jack Henry Banking Online and Mobile solutions platform. The bank's unique SWARM Banking® methodology, which involves employees 'swarming' to where the traffic is and taking each customer through the entire banking experience without handing them off to a colleague, presented additional challenges for digital implementation.
The Solution
Extraco Banks implemented the LiveEngage platform for live chat, integrated with their existing Jack Henry Banking Online and Mobile banking solution. The bank started with two concurrent live chat agents using the LivePerson platform. The initial results were promising, leading to the addition of three more concurrent agents in 2012 and another in early 2013 for a total of six. The bank also integrated mobile live chat using LivePerson’s LiveEngage platform in early 2013. The integration between LivePerson and the Jack Henry Banking platform enables Extraco Banks’ agents to have more information at their fingertips while delivering a more seamless experience for their customers.
Operational Impact
Quantitative Benefit
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