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Changing the Channel in Retail Banking

Learn how we help Retail Banking companies, or view our specific solutions below.


Customer Satisfaction Improvement

At a time when increased competition makes switching banks easy, satisfied customers -- the kind who share their positive opinions with others -- are your bank’s greatest asset. Protect and support them with an integrated customer experience strategy designed and implemented by TeleTech.

Our solutions can help you:

  • Define the customer lifecycle journey
  • Create a detailed interaction touchmap
  • Re-engineer and enhance key processes
  • Implement NPS programs
  • Measurably increase customer satisfaction and loyalty
  • Develop and maintain a consistent customer experience across all channels and touch points

Results-Based Solutions

We have designed and implemented customer-centric business models for a range of banks with a focus on improving the customer experience.

Customer satisfaction 110% above contracted requirements

82% NPS improvement

 

FEATURED CASE STUDIES

A Playground for Exceptional Service

A Customer-Centric History... and Future

Better Customer Service Costs Less

Improving Cross-Sell and Upsell Opportunities for Consumers and Small Businesses

Knowing how to create enduring, engaging customer relationships is the competitive advantage you need to succeed in today’s evolving market. Innovative retail banks are getting ahead by reallocating resources to high-potential segments and offering relevant products and services at the right time across the right channel.

TeleTech market segmentation initiatives can:

  • Optimize channel interactions with communication management to help you target high-potential customers with new products, services, and value propositions.
  • Perform comparative assessments of banking behavior for specific customer segments.
  • Identify trends in potential value across groups.
  • Develop segment-based campaign strategies and action plans.

Results-Based Solutions

We have extensive experience in segmentation for early profiling of banking customers. TeleTech solutions have consistently proven effective in building customer loyalty. Through our solutions, we have helped banks:

Implement market segmentation schemes to identify consumer needs and attitudes

Use analytics to estimate value potential of each segment

Reallocate resources to high-potential segments and target them with relevant products

 

FEATURED CASE STUDY

Customer Service Learns to Sell


Contact Center Optimization

Are outdated strategies, processes and technologies preventing your contact center from operating at peak performance? With over thirty years partnering with leading brands across the globe, TeleTech can help you optimize your technology and processes to deliver a superior contact center experience across every channel, every time.

We have extensive experience in the banking industry that allows us to:

  • Provide licensed associates for specialized needs.
  • Build advocates for your brand by delivering a great customer experience every time across every channel.

Working with TeleTech, you will:

  • Measurably improve customer experience metrics (NPS®, CSAT, FCR) using a blend of direct interaction, self service, online support, social media and collaborative techniques.
  • Control costs with scalable solutions that align workforce to daily volume.
  • Manage complex customer interactions over multiple channels.

Results-Based Solutions

TeleTech has achieved significant improvements in contact center customer care.

Improved operating efficiency by 30%

75% reduction in loan processing time

18% higher call capacity

 

FEATURED CASE STUDIES

Exceptional Service, Tailored to Fit

Multichannel Acceleration

Today’s customers interact with banks in a variety of ways. To win their business and their loyalty, you must accommodate their anytime, anywhere, any channel preferences. Have you made the investment in technology that enables effective, secure multichannel interactions including mobile and online banking? Are you providing the best possible customer experience to ensure satisfaction and growth? TeleTech can get you there fast.

We can help you:

  • Implement multichannel customer service initiatives.
  • Measurably increase customer engagement.
  • Reduce customer attrition.
  • Establish automated channel frequency reporting response.
  • Deploy targeted multichannel campaigns based on customer lifecycles.

Results-Based Solutions

We have extensive experience optimizing the multichannel experience for retail banks.

Managed 3.2+M outreaches across 63 channel combinations

Increased engagement 60%

Drove $1B in increased assets

Reduced churn 60-80%

 

FEATURED CASE STUDY

Build an Omnichannel Experience


Recruitment Process Outsourcing

Your customer service experience is only as good as the people providing it. Are you attracting, training and retaining qualified, skilled, engaged employees -- the kind who reflect your company’s culture and ensure a consistent experience across all channels? TeleTech can help.

We are a global leader in outsourcing with the proven expertise to help you reach new heights of enterprise productivity and efficiency:

  • TeleTech hires tens of thousands of employees each year to support our service delivery centers worldwide.
  • We have developed best-in-class processes and tools to source, screen, select and train employees and assure the right fit for the right role every time.
  • TeleTech talent acquisition and training solutions HirePoint™, MatchPoint™ and TeleTech iConnect™ eliminate the need for a dedicated talent acquisition team and the onsite space to house them.

Your customer service experience is only as good as the people providing it.

 

FEATURED WHITE PAPER

The Top Five Benefits of Recruitment Process Outsourcing in Financial Services

Learning and Knowledge Management

Offering new products and services can be a competitive advantage and a key differentiator in a commoditized market if your employees can do it well. Are they equipped to knowledgeably field a variety of questions across channels and business segments? With TeleTech, they will be.

Our talent and learning initiatives provide employees with the skills and training to deliver the seamless, friction-free interactions your customers expect. Our solutions:

  • Optimize employee performance at every stage of the lifecycle from pre-hire candidate through customized training and development programs.
  • Assess competency to benchmark, qualify and measure employee engagement and growth.
  • Provide hands-on simulated learning programs to raise team member confidence and aptitude.
  • Replicate real-life customer interactions in a virtual contact center.
  • Analyze your live call recordings to produce customized simulated learning scenarios.

Results-Based Solutions

Our clients count on us to provide the strategy, curriculum and technology needed to create a culture that continually delights customers and delivers value to the bottom line.

35% increase in productivity

Increased back-office workforce use by 20+% and improved employee engagement

Service levels increased 12%

 

FEATURED CASE STUDIES

Employee Engagement = Customer Satisfaction

Credit Union Works Hard to Stay on Top


Card, Deposit Services and Fraud

Helping customers spend smarter, save better and more effectively manage their debt is key to building and growing relationships with customers and increasing share of wallet. Understanding customers’ needs includes being available when and where customers expect service, and providing that service in a relevant and timely fashion. To compete for customers’ business, banks need to meet these expectations, especially throughout seasonal, crisis or event-driven spikes in service. In addition, they need to be able to do this cost-effectively and efficiently to maintain profitability.

Proof Points:

  • We work with a variety of banks to mitigate fraud, support their card business, and effectively grow deposits .
  • We have conducted in-depth analysis to alleviate fraud concerns including identifying ways to prevent fraud attempts and implementing additional reporting capabilities.
  • We have improved overall fund transfers processes to prevent internal and external fraudulent transactions.
  • We optimize program performance against budget limitations and other constraints.

Results-based Solutions

Marketing cycle time reduced by 61%

Average deposits increased 51%

Decreased fraud instances 300%

 

FEATURED CASE STUDY

Offer Optimization Boosts Credit Card Rewards Program Results

Small Business Merchant Acquisition

Small Business Merchants can be a profitable customer segment, but success hinges on your ability to establish a core banking presence with this market, and by offering a lower long-term cost of funds even as rates are rising. Success also depends on your ability to deliver richer product and service features and leverage multichannel networks in today’s competitive, commoditized market. It’s a tall order but TeleTech can help you handle it with our complete end-to-end acquisition solutions.

Our Solutions:

  • Improve segmentation and targeting models to support new market share gains
  • Boost brand recognition
  • Generate online demand
  • Analyze merchant acquisition/acceptance issues

Small Business Merchants can be a profitable customer segment, but you need to know them well.

 

FEATURED CASE STUDY

Customer Focus You Can
Take to the Bank


Small Business Banking Growth

As banks continue to find new avenues for growth, small businesses can be a key driver to increasing revenue and differentiating services. Our refined suite of small business banking growth solutions are specially designed to help banks target small businesses through digital campaign management, acquisition and retention programs. We offer end-to-end revenue generation and sales enablement solutions, which include the best technology, analytics and practices to help banks engage and acquire new small business customers, retain them longer and grow their value.

 

Our solutions help drive small business customer growth to banks through:

  • Digital Demand Generation
  • Lead Nurturing and Qualification
  • Transformational Sales Development
  • Targeted Campaigns
  • Sales and Marketing Analytics
  • Growth and Retention Programs
 
 

Small Businesses are Looking for Combined Services…

Over 60 percent of businesses in the SMB segment want the simplicity of a combined business and personal banking relationship.

Approximately 10 percent of total U.S. households are small business owners, representing 21 percent of a typical bank’s consumer customers.

Nearly 50 percent of the SMBs would consider consolidating with one institution if it provided everything they needed.

 

Our small business banking growth solution increases opportunities for customers to reach the right bankers with the right solutions. Our omnichannel platform enables banks to drive leads to the right representatives, while allowing the sales representatives to be more successful at cross-selling and upselling. This provides a game-changing opportunity for banks to grow share of wallet in this increasingly lucrative and expanding market.