Overdraft Notifications Keep BOK Financial’s Charge-offs and Customer Satisfaction in Check

With 150 retail branch locations across the Southwest, BOK Financial Corporation (BOK) sought an efficient way to contact more overdraft customers. Its goals were twofold: interact with more customers faster – before fees snowballed and loyalty decreased – and reduce account closures and charge-offs by keeping a greater share of non-sufficient funds (NSF) income.

“Each day we reach nearly four times as many overdrawn customers than before, at a fraction of the cost. Our customers appreciate the heads-up and we keep more of our NSF revenue.”

- James Morris, Senior VP, Customer Service, BOK Financial Corporation

But in order to accomplish this increase in customer outreach, BOK would need to more than double the size of its overdraft service team – not a cost-effective solution. Instead of adding headcount, BOK turned to Varolii for automated customer outreach.

After implementing Varolii, BOK not only increased its contact rate by 370%, it also was able to redeploy 75% of its overdraft service agents to other priority projects. Now BOK is contacting more customers sooner, fostering goodwill with its customers, and keeping charge-offs to a minimum.