Optimised channels and reduced cost-to-serve by 18% for a UK bank

18%
reduction in cost-to-serve
£40k
cost savings by optimising the call-back process
£35k
cost savings by optimising data validation on website
Optimised channels and reduced cost-to-serve by 18% for a UK bank

 
 
Optimised channels and reduced cost-to-serve by 18% for a UK bank
Case study

Background

Our client is one of the leading banks in the UK.

They needed support with customer service issues, where in only 45% of customer service requests were being adequately addressed due to underlying process inefficiencies and ambiguity in channel interaction flows. Firstsource partnered with the client to identify the root causes for the issue and create a strategy to capitalise on the efficiency opportunities.

Business challenge

Over 11,000+ calls (speech analytics) and customer comments on CSAT (text analytics) revealed:

  • Of the total volumes of calls, 55% of the calls remained unresolved within SLAs
  • 19% repeat contacts due to inefficient channel interaction
  • 19% customers displayed a strong negative emotion during the voice interaction, depicting dissatisfaction with the service
  • 17% call transfer to other teams, 14% call back and contact bank

Firstsource solution

First Customer Intelligence

Our First Customer Intelligence (FCI) analytics tool measures customer sentiment, emotions and behaviours across an omni-channel environment. Through FCI, we can bring structure to customer interactions and combine them with existing structured data to arrive at actionable insights. These are drawn from an in-depth, real-time analysis of customer engagement on voice and non-voice customer service channels.

For the client, we used FCI to uncover an opportunity to address service inconsistency, introduce structured messaging and create a seamless channel experience.

Business impact

18%
reduction in cost-to-serve
£40k
cost savings by optimising the call-back process
£35k
cost savings by optimising data validation on website

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