- Success Stories
- WhatsApp Business Platform
- Bank Mandiri
WHATSAPP BUSINESS PLATFORM
Bank Mandiri
Driving conversions for business growth to engage customers for installment payment schedules and enable credit card application verifications via WhatsApp Business Platform
Bank Mandiri
Brand
Damcorp
WhatsApp Business Solution Provider
SUCCESS STORY
Bank Mandiri created a digital communications channel with WhatsApp Business Platform to re-engage existing customers with automated push notifications to upgrade their purchase transactions to installment plans and personalize their credit card payments according to their needs.
increase in net margin interest income through WhatsApp
more credit card applicants respond to verification notifications
of all conversions are via WhatsApp
channel for conversions over SMS, telesales, call center, website, and mobile app
THEIR STORY
Digital banking services redefined
Bank Mandiri, established in 1999, manages the most assets and is the most progressive in digital banking in Indonesia. By taking innovative approaches to employee development, technology, and service delivery, Bank Mandiri offers customers a wide range of financial products that are easy, quick, and reliable.
THEIR GOAL
An Easy Credit Verification Process
Bank Mandiri wanted to re-engage existing customers to drive conversions for business growth, increase credit card transaction volumes and interest incomes, and provide efficient services for applicants who need to verify submitted credit card applications.
THEIR SOLUTION
Adding a reliable channel
As the largest bank in Indonesia, Bank Mandiri aims to offer customers the best, most convenient digital services across all its products. With 50 Bank Mandiri groups covering 12 regions, the bank delivers a wide range of services and has more than 1.5 million credit card customers.
Wanting to expand its credit card business the bank launched a campaign to send relevant, timely business initiated messages to every opted-in credit card customer who transacts above a certain amount, and offer to easily and quickly convert the purchase transaction into an installment scheme. Because customers have to verify every transaction in order to request a payment installment plan, they traditionally had to call an agent for these activities. To help automate the process, Bank Mandiri sent a URL link via text for every transaction. Unfortunately, the 160-character limit on the text messages included too little information, requiring customers to still call an agent to confirm required details. And when it came to verifying applications for new credit cards, the URL links also typically exceed the SMS allowable character count, which meant customers wanting new credit cards also had to phone in to already busy service centers.
Partnering with Damcorp, the bank chose WhatsApp Business Platform because it is one of the most popular messaging platforms in Indonesia. By integrating its well-known 14000-customer service line, dubbed as the “magic number,” into WhatsApp messages, customers have more trust in the push notifications they receive. The move to WhatsApp made it easy for Bank Mandiri customers to access support via the app or call the 14000 number directly. In 2021 the WhatsApp channel performed well and drove the highest volume of conversions for opted-in credit card customers reaching a rate of almost 43% compared to the rate of conversions driven by other channels, including the call center at five percent, SMS interactions at 0.15 percent and the website at 0.33 percent.
“WhatsApp Business Platform provides opportunities for the banking and financial services industry, especially for Bank Mandiri by enabling convenient digital customer services while improving business performance. In the future, Bank Mandiri will further optimize this service to meet customer needs,” says Sunarto Xie, senior vice president.
Customer verifies birthdate to qualify for credit application
A link is provided for customer eligible for an installment payment plan
As an integrated platform to grow new business and enhance credit card services, WhatsApp is also being leveraged to streamline the process for new credit applications by supporting push notification requests to customers who need to verify submitted credit card applications. Through the streamlined workflow, customers can verify their identity by replying to the notification directly in the app by simply typing in a unique code generated by the system and including their birth date.
By automating this crucial part of the application process, the bank deflects calls to live agents and accelerates application approvals. “By increasing the number of push notifications through automation, Bank Mandiri can issue more credit cards to qualified customers and in turn increase revenue from credit card purchases,” says Xie. “We saw great success with tangible improvements to the performance of our credit card business.”
The bank manages close to 10,000 interactions daily on WhatsApp and delivers eight million push notifications a month. Bank Mandiri used WhatsApp to re-engage existing customers and drive conversions and revenue. Requests from existing customers to set up installment payments via WhatsApp generated the business a net margin interest income of 42%. At the same time, the response rate in new credit card application verification driven by WhatsApp automated push notifications increased to 56 percent for credit card applications, over 5 times higher compared to the 10 percent pick-up rate from phone calls.
“By integrating automated workflows, WhatsApp has become the number one channel that supports Bank Mandiri’s objectives in ways that meet our customers’ needs, deflect inquiries from live agents, and increase revenue by facilitating more new credit card applications and changes to existing customers’ accounts,” says Xie.
In the future the bank is looking to grow the WhatsApp channel and expand to more uses including upgrading the type of credit card that customers become eligible for. The aim is to optimize automation across different areas of the business, including credit card activation, payment due alerts, card delivery services, and personalized proactive notifications. Bank Mandiri is committed to introducing advanced digital banking services to successfully deliver the best customer services.
THEIR SUCCESS
Progressive digital banking services
Bank Mandiri uses WhatsApp Business Platform to provide the most progressive digital banking business model in Indonesia with automated services that are easy, quick, and reliable for customers needing to verify credit card applications and looking to initiate installment payments for their purchases.
- 42% increase in net margin interest income through WhatsApp in 2021
- 56% more credit card applicants respond to verification notifications
- 10,000 interactions per day and 8 million push notifications a month
- #1 channel for conversions over SMS, telesales, call center, website, and mobile app
“WhatsApp Business Platform provides opportunities for the banking and financial services industry, especially for Bank Mandiri by enabling convenient digital customer services while improving business performance. In the future, Bank Mandiri will further optimize this service to meet customer needs.”
“By integrating automated workflows, WhatsApp has become the number one channel that supports Bank Mandiri’s objectives in ways that meet our customers’ needs, deflect inquiries from live agents, and increase revenue by facilitating more new credit card applications and changes to existing customers’ accounts.”
PRODUITS UTILISÉS
Plateforme WhatsApp Business
Interagissez en toute simplicité avec votre clientèle à l’aide d’outils d’automatisation et de réponse rapide aux messages.