Bank of Khyber’s Digital Transformation: A Leap Towards Customer Service Excellence

In an era where digitalization has become the driving force behind banking evolution, government owned banks are not lagging. Bank of Khyber (BoK), for instance, has made remarkable strides in rebranding itself as a forward-thinking institution, prioritizing the implementation of the latest digital banking solutions.

The bank is rapidly emerging as a modern financial institution with a focus on digital strategies and a fresh brand image. As the bank progressively adapts to the strategies of contemporary banks, they are changing the way they serve their customers. An evolving perception is indicative of the bank’s proactive efforts in embracing a much-needed digital overhaul to better cater to the dynamic needs of its customers.

Bank of Khyber’s (BoK) recent digital transformation marks a significant turning point in its journey and a promising shift towards modern banking for its customers. These strategic initiatives taken during the last 18-24 months demonstrate, show the bank’s commitment to enhancing customer experiences and embracing digital innovation.

The Birth of a Cutting-Edge Banking App

In an era where digital convenience reigns supreme, Bank of Khyber (BoK) introduced a competitive banking app that has fundamentally transformed how customers interact with their bank.

Digital transactions experienced an astonishing 774% growth, while the number of app users soared by a staggering 422% in less than two years. However, this app is not merely a transaction tool; it empowers customers by enabling them to open accounts online and access a wide array of value-added services—all at their fingertips.

This initiative exemplifies the bank’s commitment to meeting the evolving demands of its tech-savvy clientele.

In-house Call Centre: A Paradigm Shift

One of the defining moments of Bank of Khyber’s (BoK) transformation was the decision to bring the call center in-house. This strategic shift marked a significant departure from their previous outsourced model and proved to be a game-changer on multiple fronts.

In the past, the outsourced call center often struggled with maintaining consistency in the information provided to customers and had limited-service offerings. However, by taking direct control of the call center operations, Bank of Khyber (BoK) not only expanded its service portfolio to meet industry standards but also achieved a remarkable increase in customer complaint resolution rates. The increased utilization of the call-center is a clear indicator of heightened customer engagement and trust.

The bank’s move to internalize its call center operations has not only bolstered customer service but has also positioned them as a responsive and reliable financial institution.

In-house Card Production: Efficiency Redefined

Another notable milestone in Bank of Khyber’s (BoK) transformation journey is their strategic decision to bring the card production process in-house. This move was prompted by the prolonged delivery times for debit cards, which often stretched to 2-3 weeks.

The results have been nothing short of remarkable. Customers now receive their debit cards within a mere 24 to 48 hours, a clear testament to the bank’s dedication to efficiency and responsiveness. This reduction in wait times has not only bolstered customer satisfaction but has also positioned Bank of Khyber (BoK) as a formidable player in the competitive financial landscape.

ATM Performance: A Laser-Focused Approach

Recognizing the pivotal role ATMs play in facilitating daily financial transactions for countless Pakistanis, Bank of Khyber (BoK) adopted a dedicated approach to enhance the efficiency and reliability of its ATM network.

By establishing a dedicated team for end-to-end ATM management and strategically deploying ATMs in key locations, the bank has achieved higher efficiency in ATM performance. This strategic placement ensures that customers have seamless access to their funds when and where they need them. It’s worth noting that Bank of Khyber (BoK) boasts an extensive network, with approximately 275 ATMs across Pakistan, further enhancing its reach and accessibility.

Centralized CRM: Elevating Customer Satisfaction

To further elevate the overall customer experience, the bank introduced a centralized Customer Relationship Management (CRM) system for complaint resolution. This centralized system streamlines the process and provides management with real-time dashboards for oversight, ensuring that every customer complaint is addressed promptly and effectively.

This initiative underscores the bank’s commitment not only to efficient issue resolution but also to capturing valuable customer feedback for continuous improvement.

We are informed that a significant pipeline of digital products is in development, positioned to enhance the banking experience for Bank of Khyber’s (BoK) customers. These forthcoming initiatives will enable Bank of Khyber’s (BoK) customers to enjoy a service portfolio comparable to that of other prominent private banks in Pakistan, representing a notable advancement in the bank’s offerings and customer-centric approach.

Bank of Khyber’s (BoK) digital transformation journey serves as a great example of a financial institution’s unwavering dedication to its customers.

Source: Pro Pakistani