Case Study: Top 5 Online Bank achieves $4.7M annual customer-servicing cost savings with Precisely (EngageOne RapidCX)

Top 5 online bank saves $4.7 million annualy in customer servicing costs

Top 5 Online Bank faced rising customer-servicing costs driven by new account growth and a rebrand. Large-scale local printing, on-demand communications and manual back-office processes made even small content changes slow and expensive—averaging 140 days and $3,933 per change—so the bank engaged Precisely (EngageOne RapidCX) to modernize its communications.

Precisely re-platformed the bank onto EngageOne RapidCX, consolidating separate systems into a single self-service platform that enabled electronic delivery of welcome kits and tax forms, automated letter and check fulfillment, and real-time personalization and analytics. The solution let users make changes on demand without IT, support over 1,200 changes across 30 million communications per year, improved customer personalization, and delivered $4.7 million in annual savings (about $2.9M in change-costs and $1.8M from e-delivery).