Who’s complaining? Bank customers, that’s who. In fact, the Consumer Financial Protection Bureau, a U.S. government agency, reports more than 20,000 complaints to financial institutions each week.1 These complaints—emails, phone calls, social posts, chat messages—are all captured as unstructured data. That’s a lot of data for financial institutions to review, identify, and resolve—often by manual, time-consuming, and costly methods. There’s a lot riding on whether those issues get resolved to a customer’s satisfaction.

According to one survey, almost a third of customers will simply leave a beloved brand after just one poor experience.2 Another study found that 80% of customers now think that the experience a company provides is just as valuable as its products and services— and 73% expect more personalization.3 For organizations that deliver, the rewards are high: Brands that create a personalized customer experience (CX) can reap up to a 10% revenue increase.