Studie - Dialing In: Enhancing the Call Center Experience

Introduction

The call center remains an important part of the banking experience. Although it is generally less popular than the branch and has been eclipsed in some areas by the online channel, consumers remain comfortable with the convenience of telephone banking. Technological advances mean that call centers will continue to develop going forward and will remain a key part of a multi-channel experience.

Features and benefits

* Uses Datamonitor's proprietary surveys to gain insight into consumer attitudes and behavior towards the call center channel.
* Investigates the future direction of telephone banking as technology develops.
* Provides case studies of best practice examples from across the globe.

Highlights

Despite advances in other channels, consumers and financial services providers agree that call centers remain an important part of the overall banking experience. For banks the call center is an important channel of interaction that permits closer contact with customers. Strategically this allows them to drive consumer loyalty and cross-selling.
As a result of greater automation and the standardization of services, companies may be able to use customer service as a way of marketing themselves and competing with others. However, social media can also publicize negative feedback, and companies which do not improve their call center offering may find themselves at the sharp end of criticism.
Technological change is likely to see a reversal of the need to group all call center staff in the same location. Call center agents are more likely to be able to work from home or even on the move due to the normalization of high speed Internet connections. The caller could be directed to a customer service representative located nearby.

Your key questions answered

* Understand what consumers value in the call center channel.
* Acquire insight into the possible future direction of the call center.
* Read case studies of financial services providers that have brought in innovative ideas regarding the call center channel.

Executive Summary

Call centers play a vital role for banks and their customers

Telephony remains important but is generally less popular than the branch channel

Consumers seek direct human contact when applying for a mortgage

Call center customer service faces some challenges going forward

Consumers in the UK and the US are more likely to feel that the call center service has deteriorated

Technological advancements will liberate call centers from their current confines

Social media is likely to drive up the need for excellent customer service

Voice biometrics is an area being trialed by some financial services providers

OVERVIEW

Catalyst

Summary

EVALUATING THE CUSTOMER EXPERIENCE

What does customer experience mean?

The evolution of customer experience

The importance of generating a satisfying customer experience

Providers are starting to focus on customer experience management

Most banks now have extensive programs in place to monitor customer satisfaction

Customer loyalty is the key to profitability

Financial providers need to improve the quality of the customer experience they provide

There is much room for improvement in the standards of service that banks provide

Banks should focus on differentiating their customer experience

Creating an attractive customer experience can enable banks to charge a premium for their offering

EXAMINING CALL CENTER PERFORMANCE

Call centers play a vital role for banks and their customers

Call centers are being used to drive loyalty

Cross-selling opportunities exist but financial institutions need to be careful how they use them

Telephony remains important but is generally less popular than the branch channel

Consumers seek direct human contact when applying for a mortgage

Online is the chosen platform for unsecured personal loan applicants

The telephone channel has an older age profile than the other main arrangement channels for unsecured personal loans

Consumers overwhelmingly resort to the telephone for assistance with financial products

Banks should ensure that their staff are knowledgeable and helpful to maintain customer satisfaction

Call center staff should be trained thoroughly, as the telephone is the most efficient channel for resolving queries

Call center customer service faces some challenges going forward

Consumers in the UK and the US are more likely to feel that the call center service has deteriorated

Consumers would be happy with better service even if it meant having personal details stored

Telephony fits in with consumers' desire for a multi-channel experience, but the branch remains key

In Australia an eagerness to satisfy the customer could lead to an increase in call center fraud

Call length remains a frustration for consumers when dealing with call centers

Waiting time is the biggest drawback for customer service on the telephone

A more efficient call center process would suit consumers who generally face time scarcity

Automated telephony remains an issue for consumers, with many resorting to speaking with advisors to resolve their concerns

Complaints to call centers have risen since the recession began, as overall consumer dissatisfaction remains high

THE FUTURE OF CALL CENTERS

Technological advancements will liberate call centers from their current confines

A move towards greater automation is likely to see call centers becoming increasingly dedicated to sales

Call centers will be able to use technological advancements to improve the service offered

Call centers may become decentralized, leading to considerable cost reductions

Social media is likely to drive up the need for excellent customer service

Customer analytics remain a fundamental part of the call center offering

Strategy one: improve waiting times

Call centers arranging to call back can be more convenient for the consumer

Bank of America is winning awards for its 'contact center' business

Sberbank is looking to improve the customer experience by connecting customers to call center operatives through various means

Strategy two: humanize the call center experience to drive consumer engagement

Australian insurer AAMI pledges to offer the chance of a real person to speak to 24/7

ANZ is differentiating itself through its call center offering

Handelsbanken has moved away from the call center model entirely

Crédit Agricole offers British expats a call center service in English

Strategy three: improve the education and information available to staff

The Royal Bank of Canada encourages a high level of expertise among its customer service representatives

HSBC's 'One HSBC' campaign is a multi-channel program that promotes an aligned customer experience

Voice biometrics is an area being trialed by some financial services providers

APPENDIX

Supplementary data

Optimizing Call Center Performance chapter

Definitions

IVR

Methodology

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

• Benchmark - Ausgaben Call-Center Software pro Unternehmen, 43 Branchen und Durchschnitt
• IT-Ausgaben für Call-Center Software, gesamt plus 43 Branchen
• Kundenumsätze der größten Anbieter von Call-Center Software, Deutschland gesamt plus 43 Branchen
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