Case Study: a tier 1 U.S. bank optimizes merchant services with OvationCXM

Tier 1 U.S. Bank accelerates merchant activation from 15-30 days with Boomtown

The merchant services division of a Tier 1 U.S. Bank, which worked with over 200,000 merchants, faced significant challenges due to its referral-based model. This led to a lack of visibility into customer status, fragmented communication with its provider Fiserv, delayed sales commissions, and an inability to identify reasons for merchant churn. To address these issues and optimize its customer experience, the bank turned to OvationCXM's customer experience management platform.

OvationCXM implemented its CXMEngine platform to give the bank a consolidated view of each merchant's journey and orchestrate activation and servicing processes across its ecosystem. This provided real-time visibility into activation progress, improved service governance, and enabled more effective communication. As a result, the bank anticipated improved merchant onboarding and activation rates, faster sales commissions, reduced churn, and increased profitability from a higher revenue share.