The Bank’s Challenge
RDI was in discussions with a large regional bank looking to switch contact center vendors. As part of the process, we offered to analyze current calls to provide insight into their current vendor and processes. We wanted to identify customer pain points, uncover campaign inefficiencies, and leverage this information to win a new client. We wanted to not only show value add beyond a typical contact center but we needed to deliver results within 3 weeks. This was especially difficult given we had zero experience with this campaign and financial industry client.
We asked the bank to send us 1,200 hours of recent recordings which accounted for approximately 14,000 calls. Then we developed call drivers based on keywords provided by the client and utilized key OOTB measures within the CallMiner speech analytics system.
Our market research and insights division, RDI Sightline, analyzed the data. What we found was the Average Handle Time (AHT) was disproportionately affected by a small number of call drivers. Similarly, repeat call volume was driven by another small set of call drivers, and many calls were for basic account questions, such as balance inquiries, deposit status, and whether a check cleared
We recommended that time could be saved by streamlining the more time-consuming call types. Specifically, agents were taking a few minutes to simply access all the necessary forms to help the customer. Giving quicker access to such forms would help shave a couple minutes off of AHT.
As a result of our research and insights, the Bank signed with RDI contact center outsource services within a month of receiving the proposal and speech output. Senior executives indicated that the speech insights provided factored heavily in the decision, and they quickly became one of RDI’s largest clients.
- Self-serve Options – Processes have been changed to give customers more self-serve options to help reduce traffic freeing up agents’ time to provide service for more complicated issues.
- Speech Reporting – We Quickly implemented speech reporting on key measures. These reports are being sent to the bank’s senior-level executives on a daily, weekly, and monthly basis
- Quantified Key Call Drivers – We’ve been able to quantify key call drivers, and their impact on Average Handle Time (AHT) to help drive additional script and process changes.
- Scoring – We developed an agent efficiency score. Scoring agents against room averages to assist Ops in tailoring agent coaching and provide kudos to those beating the averages.
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Senior Director, Insights & Analytics