Case Study: Commonwealth Bank achieves 21% conversion and improved agent productivity with LivePerson Predictive Targeting

Predictive Returns for Commonwealth Bank with Live Chat and Predictive Targeting

Commonwealth Bank, Australia’s largest integrated financial services provider, turned to digital engagement to meet growing customer demand for online banking and to boost mortgage and product completions. After piloting LivePerson live chat beginning in 2009, the bank faced challenges scaling support across retail and business customers, improving conversion and satisfaction, and managing an increasingly complex set of manual engagement rules.

The bank moved to LivePerson’s LiveEngage platform with Predictive Targeting, transcription/text analytics, and ongoing Customer Success support. The change automated targeting and freed staff for strategic work, driving conversions from 17% to 21%, acceptance rates from 11% to 12%, customer satisfaction to as high as 86%, faster response times (31s to 26s), away time reduced to ~3%, higher agent productivity (chats per labor hour 8.9→10) and roughly 80 staff hours saved per month.

Commonwealth Bank

Aris Kinnas

Executive Manager of Digital Sales