Enhances Customer Experience
Updated September 30, 2015
Enhances Customer Experience
Score 9 out of 10
Overall Satisfaction with Mattersight Behavioral Analytics
We are a collections department and we use Mattersight Behavioral Analytics to supply us 100% call recording and to perform linguistic analysis to identify customer and team member behaviors. Mattersight analyzes calls and provides us information from the call. Just some of the information we can determine on a call are positive comments, caller distress, compliance events, and acknowledgement statements. We can also verify demographics. There are a lot more metrics that they provide us and create reporting that will allow us to identify coaching opportunties and reinforcements for our team members. We use Mattersight to address team member behaviors. This really gives us an opportunity to filter and select calls that will give us the opportunity to coach our team members on providing the best customer experience for our customers.
- 100% call recording - It is needed today with the focus on government regulations and compliance expectations.
- Real Time Alerts - identifies calls in a short amount of time where a compliance event is identified (TCPA, Bankruptcy, etc...) that give us an opportunity to review the call and make sure all steps related to the compliance event were completed appropriately.
- Coaching Heatmaps - Provide our leadership team a detailed coaching strategy heatmap that identifes a team members opportunity. This helps us focus on the main coaching topic to improve performance and providing customer excellence.
- To improve the amount of false positives reported. 20% of the calls have false positive information that we don't need to review for compliance events.
- More accountability to resolve issues in a shorter amount of time.
- Speed up the application. Users experience slight delays within the portal.
- Lowered compliance error rates
- Increased our team member promise kept rate
- Increased our call control that lead to increased team member efficiency
The impact Mattersight has had on training is minimal but it has made a large impact once team members are on the floor. This helps us quickly identify key areas that we need to focus on with our team members. It could be about building rapport with the customer so they are able to ask open ended questions to get to the root of the problem. It could be to acknowledge the customer's situation and let them know they are valued. Overall, we use the recordings to get our team members comfortable with speaking and negotiating with our customers.
We are a collections team and from the beginning Mattersight has helped us lower our talk time so we are able to help more customers and it improved the rate in which our customers keep their arrangements. Through effective negotiating and building rapport, our customers feel more valued and are more willing to pay their account.
Mattersight Behavioral Analytics has really helped us control human error especially when it comes to compliance related events. The use of real time alerts and being notified of a compliance event to review has helped us reduce risk to the customer and the bank. It has also helped us improve our performance metrics. We are able to identify key coaching areas that give us the best opportunity to be successful but at the same time service our customers.
Using Mattersight Behavioral Analytics
400 - All team members do work in Collections. Most is used to analyze calls from team members who either take incoming calls or make outgoing calls. We have an internal audit team that listens to around 500 calls on a daily basis that involve calls that potentially have the most risk to the bank - TCPA, Bankruptcy, Fraud and Dispute, Cease and Desist, and Mini Miranda. We also have an internal team that analyzes calls to spot trends and works with Mattersight to update our language library. The management team uses reporting to spot trends and to identify specific coaching opportunities for individual team members.
1010 - These team members are efficient and work as an idividual contributor. They need to be analytical, trouble shooters, abilty to perform root cause analysis, detailed, patient, and understand business objectives. They need to be able to communicate with leaders on their analysis and give supporting evidence that concludes their findings.
- Identifying coaching opportunities for our team members. We have 4 main categories that we feel a team member can improve in their negotiations and talk off with the customer. The information supplied by Mattersigh helps us quickly identify the opportunity or also find reinforements calls that drive home the coaching goals.
- Compliance - We are able to mitigate risk because Mattersight is able to identify calls based on lingustics that pose the greatest risk to the bank. Our internal compliance team is able to review these calls and to correct any errors.
- Perform root cause analysis on team member and customer pain points based on distress during the call. This allows us to quickly identify pain points and determine possible solutions that will have a greater customer impact.
- Compliance - Mattersight was able to provide us calls that had compliance events in about 2 hours. That gives time to listen to these calls and mitigate any risk if identified.
- In depth language library. We are able to breakdown the call based on many different call attributes. This allows us to manage our call model, compliance, and effiencies during the call.
- Customer personalities - understanding who are customers are and how they want to be treated gives us an oppotunity to build rapport with the customer and that allows us to determine possible solutions that will benefit the customer.