Case Study – Customer Support for the Financial Sector

Silvia Planella/ March 28, 2018/ blog, Blog entry

Our financial client’s background

The credit union provides members with the benefit of saving, insurance and allows them access to fair and reasonable rates on loans. They also offer a lower borrowing rate for traditional loans. This client has been serving its members in the financial sector for over 50 years. Their members enjoy the benefits of great competitive saving rates, sound advice and personalization of services. Additionally, the financial well being of their members is very important to the client. Our clients provide credit/financial services to their customers. Additionally, our client also provides long-term loans for students at a lower rate.

Why they needed our service

As a financial client who deals with customers daily, first call resolution (FCR) is a high priority for our client. They are aware of the high increase in demand in callers to the service. Furthermore, they noticed that callers were waiting a substantial amount of time to acquire the information they needed and a solution was required. They are aware of the importance of effective customer support and without our services, this leads to our client hiring and training more staff to meet the high demand of customer calls which could be time-consuming.

Two solutions were available to them:Finance Case study man working in his bank account

  1. Hire and train more staff in order to meet the demand of calls.
  2. Outsource to us!

Therefore, they choose our proposed solution.

Clients’ benefits from Arema Connect Support

Arema Connect support allows our financial client to focus on their core tasks and decrease staff pressure. Our team manages inbound calls of our clients’ customers which include general queries, taking messages for customer complaints, resolving customer problems and capturing weekend calls, This allows the credit union team to focus on branch visitors. Additionally, our financial client enjoys the benefit of our 24/7 customer support, which includes bank holidays and Christmas holidays. This means, even when our client’s office is closed, their customers are still supported. Our client’s members don’t have to wait long before speaking to a customer service over the phone or face to face in the office. Arema Connect supports for our clients’ customer includes:

  • Detailed Message taking
  • Appointment bookings
  • Loan updates assistance
  • Loan Applications
  • Account enquires
  • Debit payment for loans
  • Missed call
  • Booking appointments to meet with investment advisors, loan and mortgage specialist.
  • Registration of online/mobile banking

This support is appreciated by our client and its member during adverse events such as Ophelia storm and the Emma storm (‘The Beast of the East’).

Results

Arema Connect provides agents that deliver high quality and experienced customer service. We help our client take an increased amount of calls in an effective and professional manner. Due to our effective customer support, we now offer support to our clients’ members on weekends not only weekdays. Our team updates our clients on daily basis through tailored report using KPIs (Key performance indicators). These are used to measure the performance and success towards the targets that were set at the beginning of the contract. The results obtained for the client proved to be very successful.

KPIs results:

  • Percentage of calls answered in 2017   7902=88.36%
  • Calls answered in less than 20 sec    5619=91%

Apart from performance improvements, our services reduce our clients’ expenditure in training and recruitment. In Arema Connect, our success is based on a positive, enthusiastic and adequate work environment. This ensures that we always deliver the best experience to our clients, through a customer-centric approach. Due to our effective customer service experience, the number of our clients from the financial industry is increasing. If you want a tailored proposal, get in touch!

Check our all contact centre services for the financial sector and other case studies here.