CRM in Banking: Deliver Consistent Customer Experience Through Your Call Center

CRM in Banking: Deliver Consistent Customer Experience Through Your Call Center

A leading bank was facing headwinds in customer satisfaction surveys thanks to dismal service by their service centers. Online media was abound with tales of customers who had the misfortune of dealing with their customer service department. Striving to reverse the image slide, they peered over departmental functions. They found that as high as 75% customers reported that the agents played football with their problems. Agent to agent transfer with no process visibility hampered resolution times. As a result, the firm's net promoter score was a dismal 30% with customer fast switching providers. The message to the bank was clear: Improve (drastically) or be history.

The turnaround framework
To begin recovery, they implemented CRM in Banking that helped the organization be clear about the what, as well as the why of its customer service standards: that is what those standards are and the reason the bank created them. A customer service standard should allow the customer service representative to use judgment and own discretion in some situations. 

The second thing the banking CRM did was to enable the employees to succeed by patiently steering them towards one goal. The goal of delighting the customers. It empowered the bank to create an environment where call center representatives can freely ask questions, and where support is provided in case of issues/escalations.

Re-configuring the call center:

Customers weren't calling the service centers to shake it all about on the 'please hold' music. The bank cut the waiting time by making available (almost) all information over the IVR. Information like account details, interaction history, status of ticket issue etc. For outbound calls, agents were equipped with predictive dialing that automatically screened for busy tones, voicemail so that they connect only with active users. For simplicity, what executives did can be summed up by an acronym- DETI. DETI stands for the following:

1. Define measurable objectives
Clear objectives helps service reps to decipher how their adherence to customer service standards will support the purpose of the organization. The purpose can be to increase First-Time-Resolutions (FTRs) or to deliver near instant solutions to issues etc. Specific objectives ensure better enforceability. For 
example, keeping the Average Handling Time (AHT) to under three minutes with the help complete customer information in a single window. 

2. Execute intelligently
To achieve defined objectives make sure that your customer service strategy is simple and coherent. It will be more effective if it is visual. For example, you can take help of Visual Designers offered by CRMNEXT to design processes with pre-defined smart actions and call scripts. 

Call center management through CRM solutions should garner customer information from multiple sources including core, backend systems, web, social etc. This intelligence is displayed in a single window, thus negating multi system hopping. Executives can quickly search issues in their knowledge repository and accurately close common or recurring issues. 

3. Training is wealth 

It is important to ensure that there is positive peer pressure. You need to ensure that all the call center representatives receive the same training so that they can guide each other on the handling of customers issues and calls. You can improve executive soft skills and product training with the help of a centralized knowledge repository. Recognize performers. Remember, when you reward great performance, you get more of it. 

4. Input gathering
It is prudent to seek the input of call care representatives. Let them take part in refining of the strategy- that is how you indirectly compel them to own the strategy. In case they feel that the standard is ineffective or burdensome to implement, the bank management should listen carefully so that they can make
amends, or even abolish the standard altogether.

The bank in focus implemented reforming banking strategies that had significant effects. Their NPS score soared to 90% and 82% customers reported quick issue resolution. Use the above pointers with gusto and witness customer's satisfied with your consistent great service. As a bonus, also enjoy exponential service team performance with low attrition.