Enhancing Customer Satisfaction and Efficiency in Account Servicing

Problem Statement: The customer experience when obtaining fee-related information and account revisions at a commercial bank was inconsistent and time-consuming. Customers spent an average of 15 minutes on calls with agents, resulting in longer wait times and an overall unsatisfactory user experience.??

Goal: Reduce average handle time (AHT) for the respective call type from 15 mins to 6 mins, on par with industry standards. And in doing so increase the customer satisfaction score (CSAT) for this category to 95% from 80%.

Background: In this commercial bank's contact center, addressing and resolving account-related fees involved agents navigating through five different systems. However, the calls pertaining to these cases were directed to a general queue, where any banking agent would handle them. Unfortunately, not all agents were proficient in handling the complex workflow, resulting in inconsistencies in call durations. Approximately 5% of calls across the bank fell into this category.

Solution: We proposed the following solutions to address the problem:

• Customer Relationship Management (CRM) and Channels Integration:?Voice and Chat were the primary channels through which customers engaged with the bank for servicing their commercial accounts. To ensure efficient handling of cases, the most qualified agents were automatically assigned based on their skills and availability. Client information was seamlessly displayed on-screen, and details from the respective channels were seamlessly transferred to the CRM system. By analyzing call logs and making recommendations, the customer experience was significantly enhanced, leading to a reduction in Average Handle Time (AHT) from 5 minutes to 1 minute.
• Business Automation in CRM:?To streamline the fee adjustment process, we implemented automation by leveraging custom approval processes with flow automation. This automation facilitated efficient approval, record-saving, and timely email notifications. As a result, the average handle time for fee adjustments decreased from 10 minutes to 5 minutes. The implementation of timely email updates also improved communication channels between agents, approvers, and customers, enhancing overall efficiency and customer satisfaction.??
• CRM Integration with Core Banking System: To facilitate seamless data interchange, we integrated the systems using REST APIs through a gateway, enabling the bi-directional exchange of information. This integration ensured event-driven flow utilizing customer-specific parameters as inputs. Through the integration, the agents gained instant access to accurate account-level details required for fee adjustments through a single system.?

Results: We realized the increase in CSAT (95% from 80%) and decrease in AHT (15 mins to 6 mins) by implementing efficient routing protocols, process automation, and integration of CRM with backend systems.?

About CX Data Labs: We are dedicated to advancing customer experiences (CX) through data, analytics, and technology. Our expertise lies in CRM + Data + Analytics. We specialize in modernizing contact centers by creating integrations, data models, and analytical solutions across various technology landscapes, including CRM, WFM, and analytical platforms.