Tokyo, March 8, 2024 - NRI a leading provider of consulting services and system solutions today announced that its customer survey and analysis service, CXMM🄬 received a US patent and will be introduced to US financial institutions for the first time, helping them establish customer-centric business operations through enhanced measurement of customer loyalty. 

Implemented by more than 20 Japanese financial institutions, CXMM🄬 also provides outsourcing for customer-oriented business operations and CX strategies. Unlike other well-known indices for measuring customer loyalty like NPS, CXMM🄬 uses 3 metrics that cut out the shortcomings that impair the accurate measurement of customer loyalty. These metrics combine “intention to continue use” and “intention to purchase” with the “intention to recommend” rising above the limitations of other indices to help financial institutions achieve higher earnings and establish better business operations.  

CXMM🄬 covers several metrics that uncover emotional loyalty. Specifically, these center on “reliability”, “convenience”, and “economic rationality”. The solution enables financial institutions to identify the key factors in how they can set themselves apart from their competitors, pinpoint their weaknesses and address challenges.  

“In recent years, it has grown more difficult for companies to significantly differentiate themselves from their rivals in terms of functionality, performance, or price of products and services,” says Tatsuo Tanaka, Expert Strategist at NRI. “CXMM🄬 enables financial institutions to take action toward enhancing their CX index enabling increased customer loyalty, and consequently bringing in higher earnings.” 

CXMM🄬 works by obtaining user responses to Type 1 questions (e.g. intention to continue, intention to purchase, intention to recommend) and a sub-question that helps to eliminate noise, or anything that impairs the measurement of customer loyalty. It then collects user replies to Type 2 questions (e.g., reliability, convenience, economic rationality) that are established to investigate customer sentiment toward financial services. Finally, the customer analyzer calculates correlation coefficients between each of the behavioral indicators and the multiple types of sentiment indicators to more accurately measure customer loyalty. 

For more information about  CXMM🄬,
please visit https://www.nri.com/en/service/solution/fis/cxmm.