Financial Services
More customers served. Fewer resources needed.
According to a recent McKinsey report, U.S. banks and lending institutions are under pressure to retool their growth strategy in the wake of financial crisis, recession and regulatory reform. The key is to derive greater value from existing customer relationships.
Yet most banks fail to treat the "whole customer." Different parts of the business service different products resulting in a fragmented customer experience. And most financial institutions don’t have systems in place to service multiple products. As a result, the lifetime value of the customer is diminished.
Varolii helps these organizations address the full range of customer needs across all financial products at all touch points through proactive Customer Interaction Management solutions that combine voice, text and email to deliver targeted, segmented and personalized interactions that:
- Profile customers holistically using Varolii ID™ to segment customer preferences and personalize future communications on prior interactions.
- Reduces contact center costs. By providing self-service options to customers, where appropriate, you can deflect 15% of inbound inquiry calls, freeing up agents to service more complex accounts and improving customer satisfaction.
- Streamlines on-boarding processes such as loan originations by using self-service to complete applications online and automatically follow up on missing documents.
- Better meet regulatory requirement: Apply proven engagement strategies across multiple channels to ensure customer receive timely information and status updates.
Varolii Interact applications are tailored to meet the specific needs of specialized financial services businesses including:
- Mortgage Lending & Servicing: Meet production goals at a lower cost per loan. Keep up with the demands of the Servicing Alignment Initiative (SAI). Streamline communications between distressed borrowers and your Single Point of Contact (SPOC). Exceed investor expectations for due diligence and service quality.
- Retail Banking & Consumer Credit: Reduce default and increase collections payment rates. Make it easier for customers to pay through self-service options.
- Insurance: Proactively engage with policy holders to increase renewal rate. Automate more of the claims process.
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 MorrisSenior Vice President of Customer ServiceBOK Financial