Addressing customer needs first improves the overall banking experience

Posted on: May 22nd, 2013 by Art Barger

When it comes to call center operations, time is money. With contact centers handling over 50 billion customer calls each year, this is anything but an understatement.

The recent article, “British IT Pro ‘Cracks’ Call Center Menus,” explores some interesting aspects of call center efficiency, including the cost that navigation menus can have on UK businesses and taxpayers. For example, customers can spend millions of hours simply punching their way through dozens of menus levels and options before getting to their business at hand.

Along with costing customers million in potential phone charges, Nigel Clarke, a British IT project manager who’s trying to help call center users save time through more streamlined call center directories, said the time and money spent just sifting through navigation menus can have a significant impact on the trust and goodwill of customers.

“I’ve been working in IT for over 30 years, and nothing gets me riled up like having my time wasted through inefficient design.”

All this said, I see bank call centers struggling with the same issues when it comes to authentication and security. Too many knowledge-based authentication (KBA) solutions used by financial institutions to identify callers waste customers’ precious time by requiring them to go through unnecessary telephone interrogations. The time is takes contact center agents to ask each caller a list of challenge questions to confirm who they say they are is having a serious impact on operational efficiency and the overall customer experience.

We know that having to wait even a minute or two before their needs are addressed doesn’t fare well with customers. And when customers get the impression that their needs aren’t the bank’s top priority, they can, and often do, look elsewhere for a bank that meets their expectations. This is something no financial institution wants, if they can avoid it.

Eliminating time-consuming telephone interrogations is what the TRUSTID® Physical Caller Authentication solution does best. By identifying the Caller ID and ANI before the phone is picked up, contact center agents can immediately begin servicing the customers the moment they answer the telephone. This saves customers time on the phone, lowers call centers’ average call handling time, and strengthens the profitable bank-customer relationship that ultimately leads to a better overall customer experience.