This case study explores how Oration deployed a cloud-based IVR solution into a major financial institution’s contact centre providing them with the in-house capabilities to reduce their process of configuration and testing - from 12 weeks to near real time.
With digitisation, the finance sector is evolving quickly with new products, services and alternative channels to engage with. Contact centres need to continually adapt to the changing environment through digital transformation. They need to meet customer expectations by resolving an increasingly complex range of queries whilst completing transactions more securely than ever before. Fortunately, it’s easy to future proof operations by switching to a more responsive and versatile IVR solution, and it can be done without compromising the experience that customers are accustomed to.
THE CLIENT
A major New Zealand financial institution that offers a range of personal and business banking
products and services.
THE CHALLENGE
The client was using a fully featured but aging natural language IVR solution that had been in place for several years. They ultimately wanted to update their legacy IVR platform to a more efficient, cost-effective, flexible and easy-to-manage solution that preserved existing levels of customer experience and service. Due to the nature of customer calls, migration to a new IVR platform needed to be executed without impacting their existing contact centre operations or compromising the quality of service received.
THE SOLUTION
Convai worked with the client to update their legacy contact centre IVR architecture to a more cost-effective cloud-based solution: Oration. Oration was deployed into the client’s contact centre by directly taking training data from the legacy IVR system. Importing the data into Oration meant they were equipped to achieve the same or better call-routing accuracy from day one. With the capabilities of their previous IVR platform secured, Oration’s advanced technology brought several customisable benefits to this major financial institution:
DATA ENHANCED CALL-ROUTING
By learning from the data captured by their legacy system, Oration gained an immediate and deep understanding of caller intent to ensure a seamless transition and continuity of the customer experience.
IDENTIFICATION AND VERIFICATION
The client must ensure that interactions and transactions are performed securely to protect customers’ private information. Oration delivered fully configurable custom actions to identify and verify a customer’s identity using their access number and PIN.
SELF-MANAGEMENT OF THE CALLER EXPERIENCE
Updating messaging relating to incidents, changes to services or general improvements to the caller experience were difficult, costly and time consuming to deliver in their previous IVR system. Oration offered a series of sophisticated features that were easy to reconfigure or switch on and off. This enabled contact centre leaders to manage changes in real time themselves. Customers are now kept up to date with key information as business needs change on a daily, weekly or as events arise basis.
DATA CAPTURE
Oration captures verbatim caller intent which gives agents clear insight to why the customer is calling. This provided a seamless experience giving customers confidence (show me you know me) and allowed the agent to take responsibility for understanding the customer’s needs. It also provided greater transparency over call flows so the caller experience could be adjusted in response.
The Results
VOICE BANNERS
Equipped with Oration First Contact, they were able to deploy multi-layered IVR messaging to their customers, who while waiting to be served were given relevant and timely communications based on their intent.
Their approach included:
- Messaging to all customers, covering how they were dealing with regional lockdowns
- Messaging to targeted customers who enquired about ‘Branches’ and ‘Branch appointments’
- Messaging to specific customers, who mentioned ‘Auckland Branches’.
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INCREASED INSIGHTS
With an increase in accessible voice data, the client is now gaining a richer understanding of their customers and the types of language and descriptions they use while interacting through their voice channels.
This knowledge gives them a broader understanding as to how they can enhance their call flows, ensuring that the customer has a seamless and great experience from the first moment they call, to the moment their banking needs are met.
DISAMBIGUATION
The client is now capable of adding disambiguation questions themselves – enabling them to better understand customer outcomes. With this capability sitting in house, this major financial institution can now configure questions, test, learn and then iterate in near real time.
With the available data and knowing what customers were calling in for, the client is able to:
- Analyse the language and statements customers used to enquire about fixed rate break costs
- Create new tags, intents and routing rules
- Fine-tune Oration to digest and increase the pool of tags, intents and statements
- Add disambiguation questions for increased accuracy of the newly created tags.
All resulting in customers getting to the right team the first time.
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