Contact Centre Strategy for a Mid-Sized Bank
BySKAUR Team
•PublishedFebruary 10, 2024
•CategoryBanking
Developing and implementing a comprehensive contact centre strategy to enhance customer experience and operational efficiency
Understanding the Challenge
The project aimed to streamline customer service operations and align them with the bank's overarching service vision. The contact centre operated with fragmented processes, minimal integration, and limited customer segmentation. Our strategy focused on delivering high-quality, consistent customer experience while enhancing operational efficiency to support the bank's growth and expansion.
Key Issues Identified
• Lack of consolidation across products and channels
- ●High attrition at the outsourced contact centre
- ●Limited use of analytics for customer insights
- ●Absence of integrated technology and uniform service standards
- ●Ineffective cross-sell/up-sell initiatives
Strategic Solutions Implemented
1. Delivering WOW Customer Experiences: - Foster a customer-centric culture - Ensure integrated and consistent interactions - Implement effective channel migration strategies
2. Leveraging Service for Revenue Growth: - Use inbound service contacts for cross-selling - Leverage analytics for customer insights
3. Optimising Employee Management: - Enhance talent acquisition and retention - Develop employees with targeted training
4. Implementing the Right Technology: - Deploy CRM systems and knowledge management platforms - Introduce analytics tools for real-time insights
5. Creating Agile and Lean Operations: - Adopt flexible processes - Integrate technology for dynamic customer needs
Our Approach
1. Talent Management: Competency mapping and specialised training, with focus on skill development and retention
2. Channel Integration: Seamless customer journeys across channels with digital channel adoption incentives
3. Technology Deployment: Implementation of IVRS and CRM systems, with analytics for customer segmentation
4. Governance Framework: Formal Service Level Agreements (SLAs) and strengthened governance structures
Results Achieved
Key performance improvements included:
- ●First-contact resolution rates increased significantly
- ●Higher cross-sell/up-sell conversion rates
- ●Improved employee satisfaction scores
Key Takeaways
• Build a robust in-house contact centre
- ●Maintain regular technology review and updates
- ●Enhance analytics capabilities
- ●Focus on employee empowerment through training
Long-Term Impact
The strategy transformed the contact centre into a customer-centric, technology-driven, and agile operation, driving both customer satisfaction and business growth. The focus on strategic pillars ensured sustainable improvement in service quality and operational efficiency.