Finance
TEAM MEMBERS
A large bank in Israel was looking to reduce their Call Center's call volume in an effort to minimize costs and improve customer satisfaction. To achieve that, the bank needed to uncover why customers were calling rather than using the self-service in digital platforms.
The bank now has a better understanding of their clients’ desires and needs. These insights have strengthened how the bank views customer support and provides a framework for a digital user experience (UX) and digital content that can better service clients.
To uncover the reasoning and solutions, we dove into quantitative (demographics of callers, time of day of calls, etc.) and qualitative data (listened to recorded calls, spoke to support representatives, etc.). We also conducted several interviews with key bank stakeholders.
After going through the qualitative data, we were able to categorize the types of calls from the client’s perspective, rather than using a service type categorization method. Then, we performed a data re-transformation and quantitatively analyzed the data again, thus allowing us to recognize new recurring patterns.
We uncovered some significant oversights.
While the bank was focused on providing all services and functionality on their digital platforms, customers were still calling in for information regarding services that they could have access to without making a call.
We found that the reasoning for this was that customers were calling mainly to understand 'how banking processes work' rather than 'how to make a transaction.' Digital services were missing certain types of information and customer perspective journeys. For example, customers were looking for guidance how long it takes for a check to cash in, so their funds are available, rather than how to cash a check through the app.
By understanding these paint points, it was clear that the bank’s digital assets were missing key guidance elements that customers sought out. The bank was providing insights about current account status, recent actions, etc. But customers were seeking a helping hand in understanding how to carry out financial processes to achieve their personal goals. These two different perspectives meant that the term “information” had a different meaning to the bank and to its customers.
To resolve these issues, we provided three recommendations:
1. Strategic: We supported a self-service strategic approach. We recommended that the bank develops digital services through digital customer perspective journeys. They must also outline the steps required so that customers are aware of what’s expected and needed to complete any action, in accordance to their current circumstances. This helps to calm any doubts, fears, and uneasiness a client will feel when fulfilling actions of high importance, given that it is their money at stake. In turn, they will be able to do what they need to on the app/website without having to call for additional assistance.
2. Friction: We advised the bank to increase friction to the call center and make the call center phone number less of a focal point on the website. Instead, they could place FAQs designed to offer immediate support at the top of the contact page and provide proactive support to customers.
3. Prioritization: We worked with different departments to prioritize needs and pain points, offering a unified vision and plan for the organization as a whole.