Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

EQ Bank measures and improves Customer Trust with Adoreboard AI


News provided by

Adoreboard

02 Jul, 2024, 06:00 GMT

Share this article

Share toX

Share this article

Share toX

EQ Bank chooses Adoreboard's AI-generated predictive insights to target an increase in customer trust. 

EQ Bank adopts AI platform for text and emotion analysis whilst eliminating manual analysis of survey comments.

BELFAST, Northern Ireland, July 2, 2024 /PRNewswire/ -- A new way to quantify and improve consumer trust by leveraging the latest innovations in artificial intelligence (AI) is being pioneered by EQ Bank, the digital platform of Equitable Bank, Canada's Challenger Bank™ and seventh largest bank by assets.

EQ Bank receives thousands of feedback comments from customers, and extracting insights on how to improve digital customer experience was previously manual and time consuming.

Continue Reading
This image opens in the lightbox
Cathy Ly, VP marketing, EQ Bank says "with Adoreboard, we’re now able to hear what our customers are saying more intimately and faster than ever, while also translating these findings into discernible business results.”

Adoreboard, the leading AI platform that aims to build trust for better customer retention, is being deployed to remove manual analysis and instantly predict what areas to focus on that will lead to the greatest improvement in customer trust.

The platform uses AI to automatically detect the intensity of emotion expressed in each text comment to quantify drivers of trust. Developed by data scientists at Adoreboard, a spin-out of Queen's University, the Trust Metric serves as a barometer for understanding trust by quantifying levels of emotional intensity in customer feedback. Between May 2023 and May 2024, EQ Bank saw their Trust Metric score increase by 8% in its bi-annual customer survey.

By measuring digital experiences ranging from onboarding experience to mobile satisfaction, EQ Bank has been able to predict the impact of resolving key issues on its Net Promoter Score (NPS) across different feedback touchpoints. NPS helps companies understand customer loyalty and satisfaction based on their likelihood to recommend its product or service to others. By taking action to resolve customer concerns, EQ Bank increased its NPS score by 5% since October 2023.

"EQ Bank is a customer-obsessed organization, so partnering with Adoreboard to bring our customers' insights more readily to the forefront was a natural choice," said Cathy Ly, VP marketing, EQ Bank.

"Verbatim comments left by customers are a critical way to build challenger banking products that drive trust and satisfaction. With Adoreboard, we're now able to hear what our customers are saying more intimately and faster than ever, while also translating these findings into discernible business results."

EQ Bank's focus on measuring and improving customer trust is matched by a rising consumer expectation of better digital experiences when it comes to finances.

It comes as a new survey finds that 60% of Canadians expect to use their smartphones to increase the number of purchases in the coming year.

With an increase in mobile payments, unsurprisingly, 65% of Canadians would consider switching banks if they received a poor digital experience.

And it's not just confined to mobile or digital banking — changing consumer attitudes on financial literacy show that 52% of Canadians would be happy to use AI to help improve how they manage personal finances, including spending.

Chris Johnston, Chief Executive of Adoreboard, said that EQ Bank is a real pioneer within Canadian banking and an innovator across the financial services sector by adopting AI as part of their Voice of Customer programme.

"We are supporting EQ Bank to unlock new insights by identifying their next best action. The result is an upgraded digital experience for customers and a tangible business impact in terms of customer increased trust and retention."

Adoreboard, a Gartner Cool Vendor in Customer Analytics using Artificial Intelligence, is used by some of the world's most well-known brands including Procter and Gamble, Allstate and Amazon.

NOTES TO EDITOR

Context

  • Trust Metric is based on a calculation of emotional intensity of drivers in 8 emotional indexes ranging from Joy to Anger.
  • Predicted Improvements based on average of results of 6 EQ Bank customer surveys carried out bi-annually.
  • Trust increase of 8% was based on May 2024 results analysed using the Adoreboard platform.
  • EQ Banks satisfaction surveys collect data from a range of channels including Website Engagement, Mobile Engagement, Onboarding Satisfaction

Research on Artificial Intelligence

  • A total of 507 people were surveyed Q1/2024 across Canada based on a random sample using Onepulse, an online market research firm. The demographic surveyed included 45% males, 55% females.
  • Questions asked in the survey were: 1. In 2024, do you expect to use your mobile phone or apps to make more purchases? (60.36% yes/ 39.64% no) 2. Would you consider switching Banks if you had a poor digital experience? (65.29% yes/ 34.71% no) 3. Do you think you will use AI in 2024 to help improve how you manage your personal finances or spending? (51.68% yes/ 48.32% no).

About EQ Bank
Equitable Bank has a clear mission to drive change in Canadian banking to enrich people's lives. As Canada's Challenger Bank™ and seventh largest bank by assets, it leverages technology to deliver exceptional personal and commercial banking experiences and services to over 639,000 customers and more than six million credit union members through its businesses. It is a wholly owned subsidiary of EQB Inc. (TSX: EQB and EQB.PR.C), a leading digital financial services company with $123 billion in combined assets under management and administration (as at April 30, 2024). Through its digital EQ Bank platform (eqbank.ca), its customers have named it one of the top banks in Canada on the Forbes World's Best Banks list since 2021. 

To learn more, please visit eqb.investorroom.com or connect with us on LinkedIn. 

About Adoreboard
Adoreboard is a leading text analytics SaaS platform for customer and employee experience teams. Through automatic theme generation and in depth emotion analysis, Adoreboard's platform is able to quantify customer or employee trust and recommend next best actions for a company looking to drive satisfaction metrics like NPS or eNPS. Adoreboard is able to correlate the resolution of certain issues to tangible business value. 

Originating as a spinout from Queen's University, Belfast, their experience management experts provide companies with AI-generated emotion analytics and the Trust Metric to assist them in measuring, monitoring and building trust amongst customers and employees.

Adoreboard's customers include Amazon, Allstate, and P&G. Furthermore, Allstate Insurance experienced a 16.6% improvement in customer satisfaction since using the Adoreboard platform.

Photo - https://mma.prnewswire.com/media/2452235/Adoreboard.jpg

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.