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Bank Neo Commerce Uses Qualtrics to Personalize and Improve the Digital Banking Experience

Last updated:  September 7, 2021

Provider rethinks traditional market research program to gain advantage in competitive digital banking sector

Real-time consumer & market insights inform personalized customer, product, and brand experience

JAKARTA, SEPTEMBER 8 2021 – Qualtrics (Nasdaq: XM), the world’s No.1 Experience Management (XM) provider and creator of the XM category, today announced Bank Neo Commerce (Bank Neo), a leading Indonesian banking provider, is using Qualtrics CoreXM to uncover critical market and consumer insights that give the organization a competitive advantage in the country’s digital banking sector.

With the number of digital banks increasing significantly in Indonesia, recent Qualtrics research shows consumers in the country are prioritising better product and customer experiences over fees and investment returns when choosing which providers to engage.

Using Qualtrics, Bank Neo is able to conduct ongoing market and consumer research studies to rapidly understand how preferences are evolving, with real-time access to insights helping identify the products, services, and experiences it can deliver to satisfy needs and capitalise on opportunities. A range of studies are conducted with Qualtrics – including ongoing market research into consumer preferences and behaviors, customer satisfaction, and usability and concept testing – ensuring the entire business benefits from the modern, agile research platform.

Bank Neo is able to continually improve and personalize the experiences it delivers to customers using Qualtrics XM Directory – a single database for all customer and employee experience data. The feedback collected is stored in XM Directory and combined with Bank Neo’s operational data, such as CRM and marketing automation tools, to build rich customer profiles helping the organization engage and serve customers in their preferred ways.

“As part of Bank Neo’s commitment to meet the end-to-end digital banking needs of every Indonesian, we are laser focused on improving our products and services to meet people’s changing needs. By rethinking the traditional market research program with Qualtrics, Bank Neo is able to differentiate itself in the competitive digital banking sector through access to real-time insights that help us take confident and precise action to continually improve our customer, brand, and product experience. Using the findings from the market research, we’d love to know our users better in every aspect and to give them the neo banking experience with Bank Neo to serve them Banking, Above & Beyond,” explained Tjandra Gunawan, President Director of Bank Neo Commerce.

“With customer needs and expectations across all industries evolving rapidly, having full autonomy of market and consumer research programs is now essential. Bringing research capabilities in-house allows organisations to cost-effectively and efficiently scale and manage such programs, while access to real-time insights supports faster and smarter decision making. Bank Neo is one of the first organizations to adopt this innovative approach in Indonesia, and has seen immediate returns on its investment thanks to the valuable capabilities enabled,” said Mao Gen Foo, Head of Southeast Asia, Qualtrics.

About Bank Neo Commerce

Bank Neo Commerce (PT Bank Neo Commerce Tbk), formerly PT Bank Yudha Bhakti Tbk, was founded in 1990 and has been listed on the Indonesia Stock Exchange since 2015. Along with the development of digital technology, in 2019 Bank Yudha Bhakti formed a synergy with Akulaku, a leading Fintech company in the micro and medium segment. In September 2020, the bank transformed to become a Neo Commerce Bank that provides financial services to our customers through digital technology.

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About Qualtrics

Qualtrics, the world’s No. 1 Experience Management (XM) provider and creator of the XM category, is changing the way organizations manage and improve the four core experiences of business—customer, employee, product, and brand. Over 13,500 organizations around the world are using Qualtrics to listen, understand, and take action on experience data (X-data™)—the beliefs, emotions, and intentions that tell you why things are happening, and what to do about it. The Qualtrics XM Platform™ is a system of action that helps businesses attract customers who stay longer and buy more, engage employees who build a positive culture, develop breakthrough products people love, and build a brand people are passionate about. To learn more, please visit