Bradesco’s Cavalcanti Takes On Digital Transformation

Good products and services are not enough to satisfy today’s consumers. Bradesco, one of Brazil’s biggest banks, understands that challenge firsthand. Our team in Latin America spoke to Luca Cavalcanti, Bradesco’s digital channel director, about how the landscape has changed.

Good products and services are not enough to satisfy today’s consumers. They are increasingly demanding experiences that are positive, fully personalized, and suited to their behavior, preferences, and stage of life. This, of course, makes companies face the huge challenge of transforming tons of gigabytes of data into appealing and customized initiatives at every touch point, from websites and mobile apps to retail.

Bradesco, one of Brazil’s biggest banks, understands that challenge firsthand. CMO.com spoke to Luca Cavalcanti, Bradesco’s digital channel director, about how the landscape has changed.

CMO.com: The approach to customers has changed dramatically in recent years. In your view, what governs this approach today?

Cavalcanti: In the traditional approach, sellers used to need to demonstrate charisma and credibility to sell, to then engage customers or build loyalty later. Now everything has changed. Today, in the digital world, we must first create an appealing experience, supported by business intelligence and behavior studies, to only then sell in a personalized manner and create connections.

CMO.com: In practice, how is Bradesco handling this change?

Cavalcanti: We have developed a dynamic product and service integration layer that allows for quickly and efficiently creating and connecting applications to deliver a better experience to customers. We are working to expand and integrate our ecosystem of digital solutions toward an omnichannel model. With integrated digital channels and the ability to personalize service at the bank’s customer contact points, each product or service offering is based on a tendency model, which takes into account any and all information that helps form the customer’s stage in life.

CMO.com: Technological platforms and tools are essential in this process, right?

Cavalcanti: Absolutely. This is possible thanks to technology available in the market, internal tools, and by working together with our CRM. The result of this model is an audience that relates to companies in a pleasant manner and in ways that make sense for their daily lives, establishing a stronger and longer-lasting connection.

CMO.com: What is the role of mobile in this scenario?

Cavalcanti: Mobile has been visibly making more and more sense in this relationship. This is not surprising because people are increasingly connected, carrying and using their mobile phones all the time and anywhere. These devices are often the main contact interface between consumers and businesses, and their relevance has been growing exponentially.

In 2008, only 1% of Bradesco’s transactions were via smartphone. Today, we have more than 8 million active Bradesco Celular users, who complete 400 million transactions every month via the mobile channel.

CMO.com: What is the biggest challenge to customer relations in the digital realm today?

Cavalcanti: Integrating channels, given that customers move around and are very active on social networks. In addition to mobile, we invest in social media as a means of interaction. It is important for companies to have an internal team specialized in social media and operating from the bank’s call centers. The aim of this work is to “shield” the bank against any crises that may arise, as well as to expand announcements about products, services, channels, and brand, and to develop this universe of new publishers establishing true connections with people.