Innovating the Online Banking Experience
One of Switzerland's leading private banks completely transformed its digital presence through a tailor-made customer experience.
- Financial Services
- Data Science
- CX Strategy
Get to Know Pictet Group
Founded in 1805 and headquartered in Geneva, the Pictet Group ranks among Switzerland’s leading private banks and is one of the principal independent asset management firms in Europe. It provides traditional banking services for high net-worth individuals and businesses.
Time for a Data-driven Website Experience
In order to offer clients an improved, personalized experience on its global website, Pictet had to identify and classify its online audience while continuing to meet stringent anonymity requirements. After previously successfully developing the bank’s AEM platform, Valtech was asked by Pictet to meet this new challenge.
We began to assess business requirements to determine what Pictet needed to achieve its core objectives for the website, namely:
- Optimizing user navigation to enable clients to access the desired information more quickly
- Boosting client transactions, and
- Improving user-friendliness
- A bespoke solution for security concerns
Pictet has extremely severe security requirements: no web user information may be communicated to third-party developers. Valtech therefore created a personalized and unique solution to ensure total user anonymity and secure web user identity. These were developed and installed on Pictet servers, so that all data would be rendered anonymous before transmission to the developers.
Valtech also created new KPIs to measure visitors’ engagement levels, prospection rates, and continuously improve conversion via AB testing and personalization.
Data from the new solution is collected throughout the world and displayed in real time.
From Traditional Banking to a Tailor-made Customer Experience
Pictet’s online presence was completely transformed by the project, and customer anonymity and data security were preserved throughout. In addition, a governance board team was created, as well as several data teams around the world who are trained to maintain the system. No increase in headcount was necessary because the new data-focused tasks are performed by existing employees who were trained by Valtech. The training ensured that Pictet now has the means to optimize its website in-house, in order to provide clients with a personalized and enhanced online experience.
Average order value has increased by 25%, and the project was such a success that Pictet asked Valtech to extend it to its Japanese website, which is a standalone site.