FedHive, the digital command centre of Federal Bank, celebrated its first anniversary. Federal Bank, a digital forerunner, was one of the first banks to introduce a digital command centre of its own. FedHive is the digital war room which monitors the Bank’s digital moments with advanced features like social listening, brand monitoring, competition benchmarking, sentiment analysis, and crisis management.
It helps the Bank in listening, analysing and engaging with users across all social media platforms on a real-time basis. Brand activity, social trends, customer sentiment, online behaviour, share of voice, social reputation, brand performance, competition benchmarking, influencer mentions, geographic & demographic data and more are captured in FedHive through the power of advanced social listening.
Over the last year, FedHive has provided actionable information to various departments of the Bank in the form of service addressals, product/platform inputs, and emerging trends of behaviour to enhance customer experience and continue to engage with various interested constituents of the Bank. Competitive analysis and share of voice (SOV) insights have helped the Bank’s marketing team to create its own strategic brand narrative.
During the anniversary celebration, Shalini Warrier, Executive Director, Federal Bank, said “A year back, we enhanced our capabilities on social media listening by creating FedHive, our Command Centre for digital conversations. Today, as we enter into the second year of operation of this war room, we can justifiably be proud of the progress we have made. The Command Centre has embodied the mantra of “digital at the fore, human at the core” and is a key building block in our journey to become the Most Admired Bank”.
FedHive is an important milestone in Federal Bank’s customer experience (CX) journey. Federal Bank has collaborated with Locobuzz and further with Oracle and Infosys to implement a Cloud-Based Customer Relationship Management System. Phase 2 of the CX project is expected to be rolled out by December 2022.