TransferWise & Chattermill

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1 TransferWise & Chattermill Using Customer Data to Yield Insight Pedro Martin, Analyst Junior Hewitt, Customer Success

2 4m users, who love us 3b TransferWise today. volume per month +100% year-on-year growth Cash generating since Q1 2017

3 How we use customer insights Insights Overview Data types, product pillars & actionable insights Product Conviction Validating hypotheses from customer insights TransferWise s Fraud Engine Using ML based on customer behaviour

4 Cheap Fast Easy

5 Insights: Importance of NPS Boosting NPS is the single most impactful thing we can do to boost growth

6 Insights: Combining NPS with feedback I love the simplicity of technical information-- exactly how much USD to EUR, expected date of arrival, fees taken out, etc. A small suggestion would be to give more room for notes on the transfer: longer character count, including special characters, etc. Having worked in product design, I'm also happy to be a beta tester in the future for any new features! :) Cost General Convenience Graphics / Layout Speed Speed Expectation Convenience General

7 Insights: Combining NPS with feedback Net Sentiment* Coverage Payment Methods Security Convenience Cost Customer Support Speed Company Theme NPS Net Sentiment *Net Sentiment is calculated by subtracting % Negative Mentions from % Positive Mentions

8 Product Conviction Data rarely gives you an insight into visceral customer reactions

9 Product Conviction Conviction Repeat / Iterate Explore Impact

10 Fraud Engine Context Fraud prevention & Machine Learning = 100% transactions checked Convenience False positive experience ML action based on insight We can measure success with NPS

11 Fraud Engine Verification Speed Communication Speed Expectations

12 Analysing 135k Banking App Reviews

13 Approach Export Build Tag Export all of the data for the UK s biggest established and challenger banks across channels (Google Play, App Store and Trustpilot) Using all historic data, build a bespoke theme structure to analyse all pieces of feedback Tag multiple theme and sentiment labels per individual piece of feedback in near real-time

14 Key Findings Challenger Banks rank higher than Established banks in regards to app store ratings. Established Banks rank higher when it comes to Customer Service, most of this is due to positive sentiment towards contact channels and problem resolution. Challenger Banks have more positive mentions regarding fingerprint recognition, transfers. For Challenger Banks there are 3 times as many requests from customers asking for Apple Pay integration.

15 Average App Store Rating Product & Features Brand App Security Customer Service Bank 1 Bank 2 Bank 3 Bank 4 Bank 5 Bank 6

16 Challenger vs Established: Average Scores by Category Customer Service Security Brand Theme Product & Features App Challenger Banks Established Banks

17 Chattermill is an AI powered insight platform to help companies understand and improve customer experience Our AI platform gives companies the power to listen to their customer feedback at scale and make customer centric decisions. CX Support Ticket NPS Survey Product App Review Social mention Support

18 Leading companies use Chattermill to gain an edge

19 We identify themes and sentiment for each piece of customer feedback with human-like accuracy Product itself was great for the price, delivery was perfect but the website is confusing and customer support are slow to respond Product > Value Product > Delivery Website > UI Support > Responsiveness

20 And transform unstructured customer feedback into clear actions App takes ages to load and crashes The area most in need of attention is Speed of Transaction CX Helen solved my problem in minutes New customers mention speed of transaction 4x more Marketing Great quality product but delivery was two hours late N P S Updates received 159 negative mentions last week Product No response in three hours since I asked for a refund? Support net sentiment decreased 17% last month Support

21 Made possible by the latest in deep learning Unbeatable level of detail Bespoke theme structure for each client Human level accuracy State of the art neural network algorithms Flexible Integrations Integrate with all your favourite tools Speed to insights Rapid training data development via active learning Advanced reporting Powerful analytics delivered straight to your dashboard Enterprise grade security Built with the highest security and stability standards

22 TransferWise & Chattermill Using Customer Data to Yield Insight Pedro Martin, Analyst Junior Hewitt, Customer Success