It’s time to look beyond simple cost-cutting measures

Posted on: August 31st, 2016 by Art Barger

One of the goals of automating your contact center is to drive down operating costs. While saving money is an ongoing priority for many call centers, it shouldn’t come at the cost of your banking customers.

Automating things like call routing, analytics, customer identification and historical reporting can help reduce costs to your daily operations. Any number of new and advanced technologies can ease the burden of increasing call center expenses, but banks that put their priorities strictly on cost-cutting measures are only seeing half the picture. To truly optimize your operations and improve your bank-customer relationships, contact centers need to think beyond cost savings.

According to the article, “Measuring the Right Contact Center Metrics to Improve Customer Experience,” call centers that primarily focus on increasing efficiencies in an attempt to lower costs may be overlooking the one area that matters most — the customer.

Every bank knows that customers are your No. 1 revenue generator. Trying to shave costs at their expense may save you in the short term, however, unsatisfied customers will cost you more in the long run. This is why focusing on your customer experience is a winning strategy for both your call center operations and your customers.

Today’s automated solutions need to go beyond simply saving money. They should enable call centers to improve the overall banking experience.

The TRUSTID® Physical Caller Authentication solution is designed to do both. By automatically identifying the risk of all inbound calls before they are answered by a call center agent, TRUSTID allows banks to save money by removing unnecessary telephone interrogations that are required by conventional knowledge-based authentication (KBA) tools. Depending on the amount of calls a contact center receives each year, lowering average call handle times can potentially save banks millions in labor costs over time.

By validating callers while the phone is still ringing, genuine customers are seamlessly routed to the appropriate operator without interruption. This allows bank reps to deliver a faster customer experience without bombarding callers with a bunch evasive and nonpredictive security questions.

Plus, with the ability to instantly and invisibly remove spoofed calls from the telephone system, contact centers don’t waste valuable time and money identifying high-risk calls. Instead, banks can focus on the big picture of providing high quality, cost-efficient service to the ones that matter most — their customers.