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Transforming the Contact Center in a Multi-Channel Banking Organization

Simon AngoveSVP & GM, Retail Financial Services

Verint SystemsOctober 2012

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Changing role of the contact center

• Routine transactions migrating to other channels

• Shifting to more complex sales and advisory interactions

• Increase in email, web/chat, mobile and social media

• Customers expect a seamless multichannel experience

• Need to reskill and retool contact center workforce

• Continued pressure to reduce or contain operating costs

• Regulatory compliance a significant burden

Yes

No

0% 10% 20% 30% 40% 50% 60% 70% 80%

Are you experiencing increased complexity in your call center?

Source: ICMI, Leveraging Complexity: Trends for Future Success in the Contact Center, 2012

Due to changing customer behavior and evolution of technology, role of the contact center changing significantly and becoming more complicated

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Voice of the customer analytics tools listen across channels

Leverage survey, text analytics and speech analytics tools to glean customer insight and proactively respond to issues and opportunities

Phone Calls

Chat

Email

IVR Surveys

RelationshipSurveys

Transactional Surveys

Web Social Media Blogs & Communities

What do customers tell us in conversations they initiate with us?

What do customers say about us in conversations we don’t even know about?

What do customers tell us in conversations we initiate with them?

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Integrated listening strategy

Survey and behavior indicators show a spike in customers saying they are

“not at all satisfied”

Speech & Text Analytics dig into survey comments to clearly show

why customers aren’t satisfied

Bank makes operational changes and surveys sent to panels determine the effectiveness

Analysis of call center recordings exposes what customers are saying

about these topics

Combination of different “listening” tools to collect and analyze customer sentiment

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Re-skill and re-tool the workforce

Contact center agents must be equipped to handle more complex interactions and varied multi-media channels

• Hire high caliber multi-skilled agents

• Invest heavily in training and elearning

• Deploy knowledge management systems

• Leverage process analytics and automation

• Shift to customer-focused performance metrics

• Align compensation and incentives

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Improve process effectiveness through desktop analytics

Leverage desktop & process analytics and agent desktop tools to reduce variation in process execution and increase agent productivity

1. User opens the CRM system

2. Fire a trigger prompting a message based on customer’s

profile

3. Automatically force the referral application

open

4. Populate the referral application with the

relevant data from the CRM system

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Leverage workforce management practices to reduce operating expense

Workforce management has evolved beyond the basics of forecasting and scheduling to include practices that can further improve agent productivity

• Multi-skilled agents

• Multi-media blending

• Home-working agents

• Virtual contact centers

• Enterprise contact centers

Salaries; 66%

Other expenses; 34%

Contact center operating budget

Source: ContactBabel, The US Contact Center Decision Makers’ Guide, 2012

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Integrate contact center with other channels

Integrating the contact center with other channels can support delivery of a seamless multichannel customer experience

• Visibility to the customer journey

• Route work to most appropriate channel

• Proactive outbound customer outreach

• Web integration via click-to-call and chat

• Social media hub for enterprise

• Video bankers and tellers

• Outbound calling for branch appointments

• Share resources between channels

Source: BANKNXT, The Multichannel Banking Challenge, 2012

Cross channel journeys

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