Customer Case Study – Personal Financial ServicesFDVS Personal Financial Services IVR Solution Helps Reduce the Number of Calls Transferred to Live Agents by 30%—Improving Customer and Agent Satisfaction Significantly

Executive Summary

Industry

Personal Financial Services

Business Challenge

  • Consumers unable to consistently conduct money transfers in IVR
  • Retail agents unable to receive support with human contact
  • Old technology offered no reporting

Solution

  • Migrated in-house system to FDVS IVR solutions for personal financial services that allowed more calls to be resolved via IVR
  • Consolidated 20+ applications into 11 streamlined programs
  • Agent locator and multi-language application added to assist callers

Results

  • FDVS handles more than 40 million calls and logs 60 million minutes annually
  • Calls transferred to live agent dropped by 30%
  • System can speak back more than 64,000 agent locations
  • 2 million customers each month can now initiate and track money transfers

Challenge

The global leader in money transfer services came to First Data Voice Services (FDVS) with several key business challenges related to the company’s existing Interactive Voice Response (IVR) system—the company’s primary path for direct communication between its retail agents (64,000 US and 400,000 worldwide) and money transfer consumers.

The IVR system had grown into a confusing maze of applications, menu options and transfer opportunities. Consumers were unable to consistently conduct money transfer business without the intervention of an operator. Retail agents were unable to receive support with human contact. In addition, the system offered no reporting and was in desperate need of an upgrade.

Solution

By moving the existing in-house system to an FDVS platform, a solution was created that replaced inconsistency with reliability, expensive human interaction with efficient automation, and zero reporting with robust and timely results for each application.

Consolidating 20+ applications into 11 streamlined programs reduced both maintenance costs and headaches.

Efficient designs resulted in an improvement in consumer and agent satisfaction. When a transfer was necessary, values set in the IVR directed the caller to the appropriate operator trained to resolve their specific question.

Because of the company’s global reach, FDVS also included an application that assists callers using 15 of the world’s most popular languages. An agent locator that made it possible for consumers to find the nearest agent in the area by entering the zip code was also added to the stable of service and marketing programs FDVS provided.

Results

On an annual basis, FDVS handles more than 40 million calls and logs more than 60 million minutes. Since the FDVS solution was implemented, customer satisfaction has soared and agent feedback agrees. The number of callers satisfied in the IVR has risen by more than 30%. And, the appropriate service operators are now able to help the callers they receive—no longer needing to transfer callers to a more advanced trained operator in a different call center.

In addition, more than 2 million consumers each month can now initiate a money transfer, track its progress and find the nearest location to complete the transfer without human intervention.

Up-to-the-minute reporting has helped reduce the company’s operating costs by providing relevant information on the status of each program. As a result, marketing initiatives and call center decisions can now be determined based on solid data and history learned from the FDVS reporting package.

For More Information

To discover how First Data Voice Services can help you find flexible, affordable IVR solutions that satisfy your customers, call 800-428-2400 and ask for the sales department.