TRANSFORMATION

OF BANKING IN
DIGITAL INDIA
2017
CUSTOMER EXPERIENCE REPORT

Brand Research report

 Agent

Traditional communication i
90% Call
Center

channels are incomplete in

providing end-to-end customer 85%
60%
experience. End-to-End
Customer
Experience
Only in 2017, have Indian banks 85%
Web
started to recognize the missing
piece to the puzzle. 90%

Support

Brand Research report www.simplify360.com

 Agent

Social media enables building i

great end-to-end customer 90%

Call
Center

experience.
85%

In 2017, only 49% of Indian Banks

100%
End-to-End
are actively engaging with Customer
Experience
customers on Facebook. 85%
Web

90%

For the research, 37 public and private Indian banks were monitored on Support
social media.for a period of 3 months(Jun 2017-Aug 2017).

Brand Research report www.simplify360.com

Increase in IVR hold time and with most banks going
digital, customers are willing to engage with brands on
social media.

This report takes into consideration 37 Indian Banks and

provides insights about the banking industry's customer
engagement and experience cycle on social media.

It provides a deeper understanding of the usability of

social media towards providing real time customer
experience and it's effect on brand perception.

For the research, 22 Life Insurance Brands were monitored on social media
for a period of 3 months (August-October 2017)

Brand Research report www.simplify360.com

Private Banks lead Share of Voice Public Banks
41%
Private banks have higher share of voice on
social media compared to public banks.

On an average private banks have higher

engagement and conversations on social media
than public banks. In case of public bank, a few
banks dominated the buzz while others had Private Banks
negligible presence. 59%

For the research, 37 public and private Indian banks were monitored
on social media.for a period of 3 months(Jun 2017-Aug 2017).

Total Conversations analysed were 577K across all media platforms

(Twitter, Facebook, Blogs, News, Discussion and so on)

Brand Research report www.simplify360.com

SOV among Private Banks SOV among Public Banks
Others
Others
8% ICICI and HDFC are 1%
Kotak Bank
4% leading SOV, followed by OBC Bank State Bank of India
Axis and IDBI banks. 1% is leading the SOV
Yes Bank with 74% among
8% ICICI Bank Karnataka Bank public banks,
31% 1%
followed by Bank
of Baroda.
PNB
IDBI Bank 3%
9%

Bank Of Baroda
20%
Axis Bank
10%

HDFC Bank
31%

For the research, 37 public and private Indian banks were monitored
SBI
on social media.for a period of 3 months(Jun 2017-Aug 2017).
74%

Total Conversations analysed were 577K across all media platforms

(Twitter, Facebook, Blogs, News, Discussion and so on)

Brand Research report www.simplify360.com

 FACEBOOK ENGAGEMENT MATRIX
Influential Brands
ICICI Bank was the most aggressive
HIGH
and highly engaged brand on
Facebook.
Actively Engaged Brands

State Bank of India had the largest community base on

Facebook but it wasn't actively engaging and posting
Post Engagement

content like other brands.

Many brands were aggressively active on Facebook but

failed to gather enough engagement. There wasn't any
clear influential brand among any private or public banks.

Aggressive Brands

The size of icon determines the size of Page likes, X-axis

HIGH Brand post LOW measures the number of posts made by the brand, Y-axis
Facebook Engagement measures the sum of likes, comments and shares recevied by
the brand on Facebook.

Brand Research report www.simplify360.com

 TWITTER ENGAGEMENT MATRIX
Influential Brands
SBI was the most influential bank
HIGH
and highly engaged brand
on Twitter.
Actively Engaged Brands

Unlike Facebook, many banks are not very active on

Twitter. Very few brands are actually aggressive which
Post Engagement

includes HDFC, Kotak and Yes Banks.

On the other hand, Yes Bank has the highest followers but
are comparatively inactive, along with other brands like
ICICI.

Aggressive Brands

The size of icon determines the size of Page likes, X-axis

HIGH Brand post LOW measures the number of posts made by the brand, Y-axis
Facebook Engagement measures the sum of likes, comments and shares recevied by
the brand on Facebook.

Brand Research report www.simplify360.com

CUSTOMER RESPONSE TIME ON SOCIAL MEDIA

FRT (First Response Time) is one of the most crucial metric to measure the
performance of brands on social media in terms of their customer support activities.

3.0 HRS 2.5 HRS

FRT ON FACEBOOK FRT ON Twitter
Average time taken by Average time taken by
85%
brands to respond on brands to respond on
Facebook. Twitter.

Brand Research report www.simplify360.com

 COMPARISION OF FRT BETWEEN TOP BANKS

List of Banks arranged with respect to their respond time on Facebook and Twitter.

Bank of Baroda
Axis Bank, PNB, SBI RBI
HDFC Bank IDBI
Kotak Bank Yes Bank
ICICI Bank

ABC Life Insurance

Yes Bank SBI, Kotak

HDFC Bank Bank of Baroda
ICICI Bank Axis Bank

90%

The tone of the color from GREEN to RED denotes the customer experience. Green is great, while RED is worst

Note: IDBI, PNB, RBL were not actively responding on Facebook

Brand Research report www.simplify360.com

 WHY RESPONSE TIME MATTERS?
According to our research, the FRT on social for banks is OVER 78% OF PEOPLE
much higher compared to Ecommerce companies, 2.5
hours against 5 minutes.
COMPLAINING ON SOCIAL
MEDIA, EXPECT A RESPONSE
With response time being one of the key measures of WITHIN 60 MINUTES.
customer experience, banks should restructure their - Lithium Technologies Research
social response strategy to achieve faster response time.

A gradual shift from complaints on Facebook to Twitter OUT OF THIS 32% OF THE
has been observes and 53% of the social media COMPLAINERS EXPECT A
complainers on twitter expect a response within 1 hour. RESPONSE WITHIN AS
Faster response time helps in reducing negativity around
LOW AS 30 MINUTES.
- Edison Research
a brand on social media by stemming off a conversation
before it turns bitter.

Brand Research report www.simplify360.com

 CUSTOMER EXPERIENCE

UNDERSTANDING BANK'S
CUSTOMER ISSUES 85%

Analysing top 5 key issues customers of banks

face and complain about on social media. 90%

Brand Research report www.simplify360.com

Top 5 issues with Banks
There were mainly 5 major grievances raised
by customers on social media regarding
banking.

Complaints regarding Branch and Call

Center were still the highest of all. This
shows that social media is predominantly a
medium for escalation rather than for first
touch point for support.

For the research, 37 public and private Indian banks were monitored
on social media.for a period of 3 months(Jun 2017-Aug 2017).

Total Conversations analysed were 577K across all media platforms

(Twitter, Facebook, Blogs, News, Discussion and so on)

Brand Research report www.simplify360.com

37% of issues were related to Branches.

37%
Even though banks are focussing on digitization, a
huge chunk of complaints are regarding the
traditional way of banking.

With Branch related complaints leading the row, most

of the complaints were around lack of customer
service and attitude of the staff. A few cases related to
BANK
unresponsiveness of the Branch Manager were also
reported on social media.

For the research, 37 public and private Indian banks were monitored
on social media.for a period of 3 months(Jun 2017-Aug 2017).

Total Conversations analysed were 577K across all media platforms

(Twitter, Facebook, Blogs, News, Discussion and so on)

Brand Research report www.simplify360.com

26% of issues were related to Call Center.

26%
Call centers are still unable to solve the complaints
satisfactorily and people resort to Social Media
platforms for escalation.

Most of the complainants stated that either their

issue wasn't resolved or they weren't satisfied with
the solution. Rude behavior of the Call Centre Agents
and the inability to reach the customer helpline was
also a major concern.

For the research, 37 public and private Indian banks were monitored
on social media.for a period of 3 months(Jun 2017-Aug 2017).

Total Conversations analysed were 577K across all media platforms

(Twitter, Facebook, Blogs, News, Discussion and so on)

Brand Research report www.simplify360.com

16% of issues were related to ATM.

16%
Complaints regarding ATM had the third highest share
for the Banking Sector on Social Media.

Most of the complaints were regarding balance

deduction without any withdrawal. A few customers
also raised concerns about the behavior of ATM
guards and ATM operation.

For the research, 37 public and private Indian banks were monitored
on social media.for a period of 3 months(Jun 2017-Aug 2017).

Total Conversations analysed were 577K across all media platforms

(Twitter, Facebook, Blogs, News, Discussion and so on)

Brand Research report www.simplify360.com

16% of issues were related to

16%
Mobile Apps.
Mobile banking hasn't yet reached its pinnacle and
social media clearly shows it. Most issues lodged are
still related to logins, registration and OTP generation.

Unable to find the help section in the mobile apps,

people were forwarding their complaints on social
media. Password creation issue was also a major
concern for customers.

For the research, 37 public and private Indian banks were monitored PAY
on social media.for a period of 3 months(Jun 2017-Aug 2017).

Total Conversations analysed were 577K across all media platforms

(Twitter, Facebook, Blogs, News, Discussion and so on)

Brand Research report www.simplify360.com

5% of issues were related to
Internet Banking.
Internet banking received the lowest number of
complaints in the Banking Sector. A few complaints
were regarding server issue and online password
5%
generation. Blocked internet backing was another
issue Internet Banking users faced.

PAY

For the research, 37 public and private Indian banks were monitored 1 2 3 4 5 6 7 8 9 0 1 2 1 2 3

on social media.for a period of 3 months(Jun 2017-Aug 2017).

Total Conversations analysed were 577K across all media platforms

(Twitter, Facebook, Blogs, News, Discussion and so on)

Brand Research report www.simplify360.com

Brand Perception Map based
on Issues faced by Customers
Branch and Call Center were the two types of Call Center
issues common among all the private and public
banks. However, among some banks few issues
were more popular than the rest.
Internet
Banking
The spider chart shows the relative distribution of Branch
volume of complaints received by each brand
undereach category. The further away the point
from thecenter, higher the percentage of volume
of complaints.
For the research, 37 public and private Indian banks were monitored Mobile App
on social media.for a period of 3 months(Jun 2017-Aug 2017). ATM

Total Conversations analysed were 577K across all media platforms

(Twitter, Facebook, Blogs, News, Discussion and so on)

Brand Research report www.simplify360.com

 ABOUT SIMPLIFY360

Simplify360 is one of the leading social customer service

platforms.

We provide integrated social enterprise solutions for large

enterprises across industry verticals like Telecom, Retail,
Media, Banks, Insurance, FMCG & Internet companies.

The platform is also widely used by digital media agencies

for social listening, reporting and engagement.

COMPANIES WITH THE HIGHEST

CUSTOMER EXPERIENCE, TYPICALLY
GROW AT MORE THAN DOUBLE THE
RATE OF THEIR COMPETITORS.

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CONTACT US TODAY TO REVOLUTIONIZE YOUR
CUSTOMER EXPERIENCE.

THANK YOU 85%

HAVE A NICE DAY!

90%
WWW. S IMP L I F Y 3 6 0 . COM

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 EMAIL
Contact@simplify360.com

WEBSITE
www.simplify360.com

NUMBER
US: +1 (512) 686-3640
India: +91-80-40971130

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