The Siam Commercial Bank named Thailand Customer Experience of the Year - Banking winner at Asian Experience Awards 2022

Its RACEF solution provides actionable insights for the bank’s staff that can be used to provide better customer experience.

Banking firm The Siam Commercial Bank Public Company Limited clinches the Thailand Customer Experience of the Year - Banking trophy at the recently held Asian Experience Awards 2022 for its real-time analytics and customer-experience feedback (RACEF) solution.

The RACEF solution aims to transform the traditional banking experience by using big data and real-time visualisation together with its proprietary analytics and AI to measure the end-to-end customer experience towards serving every conceivable need and providing a more extraordinary journey for all customers.

The solution is expected to be more convenient, have greater relevance, and ensure a faster response and higher reliability. This is especially true for new products, service developments, customer experience designs, or improving the experience of using existing products and services. It should be highlighted that there are several successful new products initiated based on the actionable insights derived from the solution.

Moreover, RACEF combines three different data sources into a single environment to maximise their value for customer experience management: customer behaviour data from the SCB Big Data Platform; customer feedback data from the SCB Closed-Loop Feedback Platform; and market sentiment data from the SCB Social Listening Platform.

Using its proprietary real-time smart artificial intelligence process to combine, synthesise, and analyse these three data sources, RACEF visually provides actionable insight for SCB staff that can be used to effectively provide a better customer experience.

The staff responsible for relevant touchpoints, such as branches, call centres, and the mobile app, have direct access to the RACEF visualisation.

Since being upgraded around the end of 2021, RACEF has provided greater granularity and flexibility to SCB’s data consumers. The same view of quantitative and qualitative data can be instantly captured by any user at all touchpoints, thereby leading to more efficient business processes or operations to support customers.

The combination of diverse real-time data points together with the RACEF platform enables the rapid shaping of strategies and decision-making for managing product and service development processes that are more customer-oriented than before.

The prestigious awards programme aims to highlight the ingenious initiatives of creative companies delivering meaningful brand experiences to their stakeholders.

The Asian Experience Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2023 awards programme and be acclaimed for providing meaningful brand experiences to stakeholders, please contact Jane Patiag at [email protected].