Customer Experience (CX) Strategies
for Financial sector & Banking
Powerful Voice of the Customer Analytics
for Your Finance Contact Center
Meeting Customer Expectations in the Financial Sector
Changing customer expectations and demands have forever changed many industries, financial services and banking among them. Customers now expect instant responses and personalized service that allows them to connect with their financial service provider anytime from anywhere.
Customer loyalty is a concern, with customers switching banks with the simple swipe of a finger. As a result, 86% of financial institutions say customer relationships are a top focus. And nowhere is that focus on the customer more important than the contact center. Customer experience has now moved outside of the bank branch, more than 60% of all customer interactions now happening remotely.
Financial institutions are rapidly seeing the value of providing a great contact center experience. Studies show that a highly satisfied loyal customer spends 60% more than a customer with low satisfaction, and delivers 3x more value to the brand.
The root to an exceptional customer experience begins with analyzing the customer interaction data flowing into your contact centers daily
iConvo enables you to analyze each and every customer interaction so you can instantly discover warning signs of dissatisfied customers. Our intuitive software makes it easy for you to turn raw data into useful reports, allowing you to measure important contact center KPIs such as customer sentiment, satisfaction and Net Promoter Scores.
Contact center managers and Quality Assurance personnel can rely on this technology to make better, more informed decisions validated through customer interactions. Now you can leverage our industry-specific classifications so you can hit the ground running. Maximize every customer interaction for:
IMPROVED AGENT PERFORMANCE
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Identify Agent Training Opportunities
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Improve Sales / Increase Retention
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Reduce Average Call Handle Times
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Increase First Contact Resolution
QUALITY ASSURANCE / COMPLIANCE
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New Issue Identification / Early Warning
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Automate Call Monitoring
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Enhance Regulatory Compliance
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Improve Risk Management
ROOT CAUSE IDENTIFICATION
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Call Driver Analysis
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Decision Support for Change Management
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Monitor Campaign Performance
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Quickly Perform Research and Analysis
IMPROVED CUSTOMER EXPERIENCE
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Transform Voice of the Customer / Employee
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ID Drivers of Customer Dissatisfaction
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Perform Sentiment and Satisfaction Analysis
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Re-engage Unhappy Customers
Use-Case in Banking
A GLOBAL BANK WANTS TO INCREASE CUSTOMER SATISFACTION AT ITS CONTACT CENTER BY DOUBLE DIGITS
The Problem
Trying to monitor, analyze, and score all contact center interactions was not possible because of the vast amount of customer calls. The Bank was searching for a solution to evaluate 100% of all interactions and effectively analyze them for actionable results to increase agent performance.
The Solution
Using Conversational Analytics, the Bank gained valuable insights to improve both customer experience and agent performance.
Call center interactions contain critical data about customer satisfaction and agent performance. This technology offers an effective way to leverage customer interaction data. This solution transcribes all recorded customer calls to the call center, then analyzes the interactions using various technologies like emotion detection, trend analysis, and more. Through analyzing these transcriptions, brands discover actionable insights for improving customer experience and the performance of call center agents. This helps the Bank greatly to improve customer experience.
Results
NPS increased by 10%
Sales Quantity Score increased by 15%
Silence Rate during calls decreased by 3%
Insights
Using Conversational analytics, the bank discovered that agents with seniority over 36 months exhibited higher anger ratios, longer talk times, and lower wait times. The analysis pinpointed an aggressive and dominant tone of speech, resulting in poorer customer experience. The bank then implemented a training program for senior agents and helped increase the overall performance of this group.