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RENTA 4 BANCO: IMPROVING USABILITY AND USER EXPERIENCE

RENTA 4 BANCO: IMPROVING USABILITY AND USER EXPERIENCE

Using a semantic search engine capable of understanding natural language to improve navigation on Renta 4's 8 sites.

Improving search functionality on 8 websites

Renta 4 lacked a natural language search on its 8 websites. This project, led by the bank’s marketing and innovation area, aims to allow users to make queries about products, articles, offices, or frequently asked questions within the website. To achieve this, the integration of a ┬áthat would integrate with its current technology was necessary. Its web pages are developed with the component-based Adobe Experience Manager (AEM) CMS.

This project is the first implementation of this advanced search engine among Spanish banks.

Alex Baixas, CMO of Renta 4, comments that “a positive experience on any website depends, to a large extent, on the quality of its search engine. We trust in Yext and Adobe to ensure this experience is adequate with the natural language intelligence system that this platform applies to its knowledge graph to improve daily use”.

buscador web VASS

Introduction of natural language searches

Yext was the suitable technology for the project set up, a search engine with a database knowledge graph, which allows not only for the information to be available but also to establish relationships between entities to answer complex questions. Thanks to this search engine users can ask questions colloquially and receive appropriate results for their search intention. For example, when asking a question about how to invest in funds, depending on the intention, the search engine can provide more educational content first (e.g., an article about the investment), recommendations of the best funds recommended by Renta 4, or different products from its portfolio.

It is important to note that everything is integrated with the Adobe site, so there is no need to type the information into the knowledge graph manually. Instead, it is incorporated with the web page manager (AEM). Thus, if a web page is created within one of the portals for a new product, this information enters directly into the network so that it can appear in searches.

This is a 100% configurable solution in which the bank can adapt the results and their typology to be displayed.

In addition, the user experience of the interface is also configurable. This allows, for example, to add CTAs or buttons on related products that connect directly to the landing page of each product.

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Previous VASS experience working with Renta 4

The incorporation of Yext in the Renta 4 portals is not an isolated project. VASS had already worked on migrating 8 sites (Renta 4’s public website and 7 complementary sites) with Adobe’s CMS, developing up to 62 reusable components that could be used on the different platforms.

Therefore, the search engine implementation is a step further in the improvement and optimisation of Renta 4’s platforms.

Monetisation, flexibility, agility, and scalability

Thanks to the integration of the new search engine to facilitate natural language searches, together with the possibilities of configuring results and UX, Renta 4 obtains numerous benefits, from we can highlight:

  • Prioritisation of the visibility of certain products.
  • Improved user experience and usability.
  • Lower abandonment rate.
  • Higher conversion rate by reducing the number of clicks in the customer journey when looking for something specific.
  • Knowledge of the user’s interests improves the results obtained and provides information for other types of decisions on products or core aspects of the entity.
  • Reduction of teamwork, thanks to the integration between AEM and Yext.

Mejoras incremento VASS

Players involved in the project:

Renta 4 Banco

Renta 4 Banco is the leading Spanish bank specialising in investment, wealth management, capital markets, and corporate advisory services. It is the only investment services financial institution listed on the Spanish stock exchange. At the end of 2021, Renta 4 Banco’s assets exceeded EUR 27,000 million, and it retained more than 110,000 customers in its own network. It stands out for its high level of solvency with a “CET1 Fully Loaded” capital ratio of 14.7%.

Renta 4 Banco is present in Spain with 63 branches throughout the country and is expanding to Latin America, where it already has branches in Peru, Colombia, and Chile.

VASS

VASS is a leading company in digital solutions, with offices in 22 countries. It has more than 3,600 employees and a turnover of 250 million euros. VASS is a leader in Banking, with extensive experience in projects that increase digital sales and optimise the operating costs of the entities, and with high specialisation in all areas: Retail, Consumer, Wealth, SME, and Corporate.

Yext

Yext is a search experience platform based on Artificial Intelligence, allowing advanced searches in natural language. Its knowledge graph allows returning answers to customer searches for different companies instead of just related links. The company was founded in 2006 and currently has more than 1300 employees and 16 global offices.

Adobe

Adobe is an American software company founded in 1982 with a wide variety of products aimed at aiding in the creation, distribution, and optimisation of content and applications. Its revenues in 2020 were more than $12.8 billion and has more than 22,000 employees. Its products include Adobe Experience Manager (AEM), a powerful, component-based CMS.

Improving usability

Improving user experience

The following technologies were required for the development of this project:

  • Yext
  • Adobe

  • Logo Adobe
  • Logo Yext