VHT for Financial Services

Boosting the customer experience with financial callback solutions

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Challenge

Today’s banking customer is turning to technology for services

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.

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Solution

Starting over, repeating information and waiting on hold are inefficiencies in the customer journey.

Starting over, repeating information and waiting on hold are inefficiencies in the customer journey. VHT Digital 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.

Customer Success Measures

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

Average speeds to answer were reduced from 8.0 minutes to 3.7 minutes during periods when VHT was greeting callers.

Over 22.7 million additional callers were answered within service level goals by using VHT's financial callback solutions.

VHT saved over 5.1 million callers from abandoning the queue. VHT was able to reduce the abandon rate from 19.5% to 10.1%.

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“VHT products are straightforward and easy to implement. They are also bringing insight and value to the table.”

BRENT SPARKS, DIRECTOR OF SELF-SERVICE IN GLOBAL OPERATIONS, PAYPAL

Let Us Help Your Financial Services Organization

VHT has helped financial institutions improve experiences for over 50 million customers. Download our PDF to see more financial industry stats.

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Virtual Hold Technology Solutions, LLC. All rights reserved. © 2019

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