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3 types of KPIs to monitor when deploying a Conversational Financial Coach

Raphael Feillet

Solution Manager WL Digital Services

22 April 2021

3 types of KPIs to monitor when deploying a Conversational Financial Coach

“Now that the COVID-19 pandemic crisis has upset our classical business models, putting pressure on in-store businesses and accelerating digital transformation, experiences such as the Conversational Financial Coach provide not only a faster but also safer way of communicating both B2C and B2B” (‘Conversational Financial Coaching’ paper by equensWorldline, 2021).

Gadget or value-adding business asset?

In order to qualify the value of a new business asset, there must be proper Key Performance Indicators (KPIs) defined beforehand to measure the efficiency and value of the solution. Here are 3 areas where you should track the efficiency of your Conversational Financial Coach (to start with):


1. The aforementioned Conversational Coach can be a Chatbot or a Voicebot solution, allowing end-users to gather information regarding their financial situation seamlessly, understand the data quickly, and take relevant action easily. Therefore, the first area is the satisfaction of customers regarding the bank’s ability to provide them with relevant and actionable insights in a smooth and efficient way (e.g. orchestrating every step from user identification to project management or meeting appointment).

2. The solution is designed to simplify and automate some tasks (consulting balances, creating a saving project, making an appointment, etc.) and consequently consume less time for the customer support team, ultimately focusing on more adding-value services. Internal efficiency / time gain should thus also be monitored at every stage of the customer journey.

3. This new channel also allows end-users to get closer to their bank and have regular interactions by easily performing self-service activities. This gives the bank a better understanding of the customer over time, and this knowledge can be used to adjust customer engagement and support strategy, while matching perfectly each user’s expectations. Therefore, customer engagement must be measured to ensure the adoption of the solution by the bank’s customers.



Already benefiting (financial) institutions

Reading the previous paragraph, you must now be wondering “if it is fulfilling all these promises, how come everyone does not have one yet?” Well, companies (and not only financial institutions) are already deploying multiple solutions and already seeing return on investment.

Santander, Bank of America, BNPP, etc. as well as digital challengers such as N26 (with their chatbot ‘Neon’) or Revolut (with ‘Rita’): they are all engaging their customers with conversational solutions to build loyalty and gain market share. Competition has never been as fierce as of today, and all market players (financial or not) need to match the rising customers’ expectations in order to retain them – and simplify the on-boarding processes to secure new ones.
Willing to buy a car? Making a trip to Hawaii? Or simply saving money for future projects? No need for long excel sheets, some of these actors already allow end-users to understand, control and optimise their finances through natural conversations – while reducing the impact of life projects on the customer lifestyle. Just like that. Conversational platforms are perfectly suited to this purpose (and many others), if they are trained in the right way and if they embed a sufficient level of intelligence to handle such complex use cases. 


expert paper





Check out equensWorldline’s expert paper to learn more about the anatomy of a Conversational Financial Coach and explore key factors for a successful deployment.


What’s next?

Chatbots and voicebots have emerged as a result of a number of innovations around language and messaging. Even though the uses and technology now seem to be sufficiently mature for mass adoption, there are still many areas of improvements – starting by making Conversational Financial Coaches more “human-like” in their understanding and behaviour. To increase the perceived ‘empathy’ of a chatbot, sentiment analysis can greatly help in adjusting the conversation tone and pace to the user’s discerned emotions (e.g. impatience, frustration, confusion).

Vocal biometrics recognition can also smooth the overall experience while enabling high levels of security for sensitive operations, which is currently considered as a big challenge for voicebots in financial institutions.

Therefore, we believe at equensWorldline that Conversational Financial Coaching will become a central touchpoint in the customer relationship, fuelled and enriched with both technological progress and customer knowledge.

equensWorldline Expert Paper:
Learn more about the anatomy of a Conversational Financial Coach and explore key factors for a successful deployment.

WL Conversational Platform:
Multi-channel platform  for customer engagement and support, fuelled with pre-trained bots for messaging and voice channels

WL Trusted Authentication:
Rely on our industrialised solutions for identification and authentication to guarantee a secure access to all your online services


Download a free copy the expert paper 'Conversational Financial Coaching’