In a time where banks are often perceived as prioritising profits over customer interests, Sydbank chose a different path. 

They recognized that the currency of customer relationships is attention and that relevance is the key to capturing it. By asking, “Does your bank excite you?” Sydbank challenged itself to create communications that truly resonated with customers’ lives and financial situations.

Sydbank’s partnership with Agillic enabled them to execute their customer-centric strategy at an unprecedented level of personalisation and automation.

This collaboration transformed Sydbank’s approach from saying something to all customers to genuinely giving something of value to each customer, turning every interaction into an opportunity to strengthen relationships and improve customer satisfaction and financial outcomes.

sydbank

“Our challenge was to make banking more relatable and valuable to our customers. Agillic has been instrumental in helping us achieve this goal. The platform’s powerful personalisation capabilities have allowed us to create highly targeted campaigns that speak directly to each customer’s unique situation. What I love about Agillic is its flexibility and ease of use – it enables our team to quickly adapt our messaging and test new approaches. The direct impact on our business results is clear: we’ve seen increased engagement, higher conversion rates, and most importantly, improved customer satisfaction. Agillic isn’t just a tool for us; it’s a key driver of our customer-centric strategy.”
Nanna la Cour Skov
Head of personalised communication, Sydbank

Challenge: 

Sydbank faced a common banking industry problem: Customers often find banking services confusing and impersonal. 

With 43% of clients not understanding financial communications* Sydbank needed to transform its approach to customer engagement and product offerings.

Strategy: 

Sydbank implemented Agillic to fuel their personalised customer experience strategy. They shifted completely from generic mass emails to tailored, situation-specific messages that speak directly to individual customer needs. The bank focused on making complex financial topics understandable and relevant, aligning with their core value of building strong customer relations.

Results with Agillic:

  1. Significant additional pension contributions generated from one single, personalised email
  2. Millions of DKK transferred to new, lower-interest accounts, directly benefiting customer satisfaction and brand perception
  3. 20% conversion rate achieved for the mortgage conversion initiative.
  4. 20% of recipients purchased additional products in the customer-satisfaction campaign.
  5. 4 times higher effectiveness for personalised campaigns compared to non-personalized alternatives.

Examples of Sydbank’s personalised communication include the following:

  1. Pension scheme campaign: Agillic’s personalisation capabilities allowed Sydbank to identify customers nearing year-end who could benefit from additional pension contributions. Instead of generic far-future retirement messaging, they crafted personalised emails highlighting here-and-now tax advantages, resulting in a significant uptake.
  2. Mortgage conversion initiative: Utilising Agillic’s dynamic content features, Sydbank created emails with personalised loan calculations and embedded explanatory videos. This tailored approach simplified complex financial decisions for each customer and drove considerable mortgage conversion rates.
  3. Customer satisfaction campaign: Agillic’s unique flexible content model enabled Sydbank to develop and orchestrate 16 variants of a ‘how to manage savings and loans’-message across email and mobile banking channels. This multi-variant approach allowed for precise targeting based on individual customer profiles and behaviours and resulted in millions of DKK being moved around with the result of boosting customer satisfaction and brand perception.

Key takeaways:

  1. Relevance is king: Sydbank replaced generic news emails with highly targeted communications, addressing specific customer segments with tailored messages.
  2. Simplification drives understanding: By breaking down complex financial concepts into relatable terms, Sydbank significantly improved customer comprehension and engagement.
  3. Multi-channel approach: Utilising both email and mobile banking app notifications ensured broader reach and accessibility.
  4. Data-driven personalisation: Leveraging Agillic’s platform, Sydbank crafted messages based on individual customer data, dramatically increasing relevance and response rates.
  5. Customer-centric focus: By prioritising customer financial well-being over short-term gains, Sydbank strengthened trust and loyalty.

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