DConflict of member and customer services is a key focus in Nasdaq markets, to meet the growing demand for self-service and streamlined communication channels from members and other customers. Digital Service Portal Used by Nasdaq Markets Nasdaq Market Technology has recently launched a white label service portal that customers can use to digitalize their member services. In this interview, David Lawn, Vice President of Nasdaq North American Customer Service, discusses how Nasdaq’s digitalisation journey has begun and the vision for the future.

First, can you explain what motivated Nasdaq to digitalize member services?

Our view of self-service is based on three main drivers. First and foremost are customer expectations; The exchange members and other customers we serve have been improved, and new exchange needs enhance the self-service aspect. Just as they manage many of their personal accounts with service providers in their personal lives, they expect to be able to manage their exchange relations, structures, and settings themselves. There is also a desire to integrate and integrate Nassadak data processes into their own systems, especially from our larger member organizations.

The second driver is efficiency and expansion. Our analysis shows that the huge part of the service and support requests that we handle today may be standardized and self-serving. We have seen the opportunity to free up time from managing routine tasks that may focus on cost-effective activities and services that require personal interaction. Additionally, we can shorten response time by reducing tens of thousands of standard queries and minimizing manual errors. And when interactions are digitized, Nasdaq can use data to analyze user behavior, improve processes, actively interact with customers and increase revenue.

Third, the digital service interface helps to improve resilience in the face of market stress or disaster. Instant login and verification of configurations can give customers improved confidence to enter the market after a standstill or other turmoil. We can provide that extra comfort to our customers by giving a self-service perspective on their situation in Nasdaq markets.

What is your view of the portal?

Our goal is to enhance the customer experience around the board and transform that into a competitive Nasdaq. We want to allow their clients to streamline their workflows on Nasdaqs, creating a more immersive experience for them but not for us.

The way we deliver this to our members and customers is through a digital customer portal. We have taken step-by-step customer experience step by step to ensure that we are delivering value added value. The first step was to move from the use of email and telephone to portal requests to clients. We have implemented what we call Smart Forms, which can be pre-filled with information and logic related to their client-related services, configurations and settings. In this way, the relationship between customers and marketing activities is streamlined and standardized for a single question. This helps reduce errors and gives customers the ability to track the status of their previous requests. Moreover, smart forms are easy to build without programming and are directly managed by the operating team, without the need to include technical teams.

Once we filled out both the smart forms and the data, we started thinking about how to use that data and manage the relevant connections directly and further enhance the customer experience through the current process. The ultimate goal is to automate as many requests as possible, but initially the operating staff will perform related updates in the back-end systems. For confidential changes, manual approvals are performed before updates are pushed to the recipient’s end-to-end systems.

Finally, we want to enable the same direct processing services for clients who want to connect programmatically, not in the APIs as well as in the user interface.

Can you tell us a little bit about the future map?

The portal was first designed to support our European locations and was launched in 2015. In 2019, it was transformed into a global producer to support Nasdaq’s North American locations. Functionality has continued to be developed to support advanced automation and additional services, including monitoring, reporting, communications and port management, membership settings, ordering additional services and subscriptions, billing, etc. In abundance in the product.

The solution now supports all Nasdaq markets globally, and our teams in Europe and North America will work together to ensure the product is consistent. In addition, the white-marked edition of Nasdaq Customer Link is available for use as a digital service portal for Nasdaq Market Technology customer information exchange and cleanup.

Looking forward, it is an area where we look forward to furthering access to information and analysis. A.D. In 2016, instead of serving ourselves and pulling their reports, we moved on to pushing members to report. This was a very successful launch; Customers love to be able to manage their reports individually, and we have freed our operating team from many handicrafts. We are currently developing a business intelligence solution called analytics and digitalization. Our goal is to embed a dashboard filter in the customer portal where customers can build their data view or select pre-built views from Nasdaq. This allows you to visualize where customers will be staying in the payment plan, especially on stage-specific information.

What tips can you share with marketers who plan to promote digital member services?

Talk to members and customers about how you can better serve them and what burdens they carry on their side. Their feedback will help you prioritize the next steps in your journey.

Use your operating team as assets to determine service requirements. Data-based analysis of query types, time spent, and other key metrics will help determine and prioritize the behavioral roadmap associated with customer feedback.

Finally, extracting information from different older systems can be complex and time consuming. But once that data is opened and within the portal, you can do powerful things to serve customers in new and innovative ways.