Coronavirus business loans, known as BBLs and CBILS, are different to run-of-the-mill commercial loans. In our blog The call for a new approach to CBILS and BBLS account servicing, we outline why servicing these loans poses unique challenges for lenders. And how to tackle these with an approach rooted in
A lighter-touch approach to Coronavirus loans Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme (BBLS) will require a different customer servicing approach. This has been recognised by the state-owned British Business Bank and the industry lobby group, UK Finance, which kicked off talks with commercial lenders
Leveraging its remote implementation methodology, Firstsource automated the bank’s Risk Management Quality Assurance processes, increasing capacity for QA testing by 1200% and reducing processing time by 90%. The client One of the largest banks in the US providing banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental
Strong Customer Authentication (SCA) means hard work for European banks looking to ensure compliance from day one. Come September, it’s going to mean some hard work for customers too. People are used to making online purchases quickly and easily, and suddenly they’ll be forced to go through additional authentication steps.
Business challenge The retail bank operated several call centres to service its core retail customer base. This covered standard telephone banking activity such as managing account enquiries, assisting with money transfers, setting up or cancelling direct debits, handling complaints and so on. Managing ﬂuctuating call volume was an ongoing challenge
Background The client is a leading UK bank founded over 170 years ago. With a base of over 15 million customers, the bank is the world’s largest mutual ﬁnancial institution, the UK’s second largest mortgage provider, and one of UK’s largest savings providers. Business challenge The client oﬀered multiple customer
Brands have never been under such pressure to keep up with their tech peers. But while some of the latest technologies may sound like they belong in a sci-fi film; the truth is they have the power to transform how you deliver your customer service.
In the face of fresh-faced fintechs, it’s essential that banks are doing all they can do to digitise their services and provide a truly competitive offer to challenger brands. So, what must banks bear in mind when looking to digitally transform their customer service?
RPA is hugely beneficial to commercial finance divisions, for example, where efficiency and cost-effectiveness is of paramount importance. And in such a heavily regulated industry, the technology also eliminates room for human error.
If brands are to stake their claims on customer loyalty – and attract more consumers through excellent customer service – it is vital that they understand who has responsibility for delivering second to none customer experiences.
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