Digital CX Transformation Saves Financial Services Client $1 Million Annually
Digital CX Transformation Saves Financial Services Client $1 Million Annually
Industry
Overall, the financial services sector has been slow to modernize and integrate customer support systems. When agents manually search multiple sources for information while serving customers, average handle time (AHT) and customer satisfaction suffer.
The Challenge
Our client, a $4.7-billion financial services company, implemented a new digital customer interface, but legacy information systems and multiple unwieldy knowledge sources produced complex and costly support problems.
- Lengthy AHT
- Unacceptable agent time to proficiency
- New customer self-service application didn’t sync with other systems effectively
The Solution
ResultsCX reduced support costs by promoting unified knowledge management and digital support adoption:
- Identified available agents equally effective working onsite or at home
- Employed cross-training program to develop flexible universal agents
- Enhanced ability of team to cover and fill staffing gaps
- Transitioned and cross-trained all needed agents within a five-day window
- Adjusted curriculum to expedite new hire learning
The Results
AI-powered agent assistance and efficient support systems drastically improved CX, leading to significant financial impact.
- AHT improved by 162 seconds after 9 months
- $1 million+ projected annual savings
- 5% Increase in customer app use within three months
- 92.5% – 96.4% Increase in quality scores in nine months
- 30-day decrease in agent time-to-proficiency within three months
- Reduced billable hours, consistent KPI achievement, improved customer experience
Redefining banking and financial services CX
Predictive and human-centric operations for the next era
