Financial

When given the option, customers chose to receive a VHT Callback 44% of the time.
When given the option, customers chose to receive a VHT Callback 44% of the time.
Over 11.8 million finance customers used the VHT Callback option.
Over 11.8 million finance customers used the VHT Callback option.
Over 26.8 million finance customers received an improved experience.
Over 26.8 million finance customers received an improved experience.

Challenge

Today’s banking customer is turning to technology for services, and the opportunities for banks to offer a personal touch are becoming fewer and further between. As this trend continues, the financial institutions that deliver fast, easy, and enjoyable experiences online and in mobile apps will be the ones that succeed and stay ahead of the competition.

Regulation in the industry is costly, so streamlining processes to save money is critical. Customer journey maps are a great place to find untapped efficiency. Frustrated customers take more time to work their way through support systems than satisfied customers. For example, a customer that starts interacting with their bank in a mobile app often has to start all over again when he or she switches to the website.

Financial
Financial

Solution

Starting over, repeating information and waiting on hold are inefficiencies in the customer journey. VHT Conversation Bridge transitions customers from web pages and mobile apps by clicking or tapping for a callback request. Integrated with contact center routing technology, all customer information entered online or in the app is submitted with the request. This way, the callback comes from a specialist who knows exactly who the customer is and how to help. The unnecessary steps of dialing toll-free numbers and navigating IVR voice menus are completely eliminated from the process, and the transaction becomes faster and easier for customers.

Inbound contact centers are also subject to inefficiencies. Hold time issues during peak calling times can affect the customer journey negatively, and compound the headache. VHT Callback eliminates the wait for your customers by allowing them to hang up and get a call back in the same amount of time as if they had waited on hold. By improving average handle times, VHT Callback reduces call abandonment and improves the customer experience.

Key Statistics

Since mosts callbacks are answered in 16 seconds, whenever VHT is treating calls, the impacts are:

Average speeds to answer were reduced from 7.2 minutes to 3.9 minutes during periods when VHT was greeting callers.

Over 9.9 million additional callers were answered within service level goals by using the VHT Callback solution.

VHT saved over 2.1 million callers from abandoning the queue. VHT was able to reduce the abandon rate from 18.3% to 10.5%.

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