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Playback

Awards: Industry Gold - Financial Services, Craft Gold - Excellence in Data Strategy, Channel Silver - Email Marketing, Nexus Silver - Strategic Vision

Entrant: TRACK New Zealand

Nominee: Westpac New Zealand

Entrant Credits: Kate De Marco, Tom Hewlett, Sophie Taylor, Jeff Harris, Danny Brown, Chantel Moth, Julie Alchin, Corne Kruger, Justin Wood

Nominee Credits: Jo Bailey, Samantha Vincent, Maxine Wilmers, Yousif Al-Shekly, Haley Clausen, Tracy Smithers, Oliver Lynch

Entry Rationale:

To tackle tanking NPS scores and customer churn, Westpac’s response was to get personal with customers, on a mass scale.

Playback is a personalised review of a customer’s banking that empowers them with; valuable insight into their own behaviour, provides recommendations they can benefit from and encourages them to connect with Westpac personally - supporting richer conversations around their individual needs.

Playback utilises the wealth of data that Westpac holds to truly help customers get where they want to be - delving into the data to look at how they bank to proactively suggest ways they could be better off, like saving on fees, saving time and earning more interest. Initially focusing on everyday banking, this is the first in an ongoing programme that supports the financial well-being of customers.

A first for any bank in Australasia, this world-class use of data combines granular customer level detail with sheer scale. Playback was launched to half a million customers in the first month of deployment.

Only 2 months after launch, the programme has already had phenomenal success lifting customer satisfaction metrics; including customers contacted feeling more valued and more likely to recommend Westpac. There has also been a significant reduction in dormancy rates which is seen to be a reliable indicator of churn.

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