Firstsource - Credit Card

Credit Card - Case Study

Firstsource helps a leading U.S. financial services company grow its credit card business and deliver improved customer service

Background

A leading U.S. financial services company required operational scalability and a cost effective customer service program to support its rapid growth and improve customer service levels. read more

The Solution

Firstsource applied its proprietary migration methodology i-Kit^® and Rightshoring delivery model for rapid scalability. It delivered innovative solutions including a unique fee waiver calculator and optimized client IVR system. read more

Firstsource leveraged its deep financial services experience and award-winning process excellence practice to design a comprehensive approach. This included identifying the key contributors to improving customer satisfaction levels and developing appropriate solutions to address this area. Program delivery was accelerated by implementing Firstsource’s proprietary migration methodology, i-kit^®.

Operational excellence
Firstsource implemented a robust model which provided scalable and flexible operations at reduced costs through:

Scalability – rapid ramp ups - Firstsource mapped and transitioned client processes to its delivery centers and quickly deployed highly skilled and trained resources to handle the huge volumes of customer service inquiries
Optimized workforce management - Firstsource implemented effective workforce planning and scheduling mechanisms which provided flexibility to the client in scaling up or down the operations
Rightshoring - Firstsource applied its Rightshoring delivery model (right process in the right location) through distributing the operations globally across two countries

Enhanced customer service

Firstsource developed customer centric solutions that included:
- A unique fee waiver calculator which reduced average call handling time, increasing customer satisfaction
- Optimized the client’s interactive voice response system (IVR) - A statistical analysis of the IVR system and identification of redundant steps in the IVR system flow was done which led to a more streamlined work flow and improved the overall customer experience
Domain expertise, training and development - This was ensured by deploying resources with comprehensive process and domain knowledge and training across multiple customer contact channels (phone, internet and correspondence)
Firstsource implemented many process improvement initiatives, for e.g. Rewards and Recognition (R&R) program to create a performance driven working environment and live call monitoring and feedback to improve customer call quality and call times

The Benefits

Firstsource's scalable operational model and innovative solutions provided measurable benefits to the client's customer service quality process and overall customer satisfaction. read more

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