Conversational Analytics / 23.10.2020

How ACW Automation Benefits Banking Customer Service

The banking industry has been an early adopter of digital transformation. Today upstart fintech players are mushrooming thanks to low entry barriers, better innovation, and less red tape. The growth of non-traditional banks has driven the incumbents to adopt a customer-centric approach to stay relevant and deepen relationships with their customers.

The COVID-19 pandemic has driven huge spikes in call volumes and overwhelming contact center agents. With a larger volume of calls, contact centers need to look at different solutions to reduce the average handling time (AHT), thus lowering the call waiting times. A quick fix to solve this million-dollar problem is automating the after-call work (ACW) or warp-up time spent by agents to finish entering call notes and next steps into their systems.

The standard ACW includes, but is not limited to:

  • The reason for the call
  • The outcome achieved
  • Follow-up action items needed
  • Update the CRM or help desk
  • Call categorization and highlights
  • Send emails and share information.

Today, artificial intelligence and machine learning are the perfect solutions to automate ACW. Let’s find out how AI/ML is used to automate ACW and helps banks lower AHT while improving efficiencies and customer experience.

Automating ACW drives efficiencies and performance

Real-time speech recognition and transcription, together with AI, ML and Natural Language Processing (NLP), empowers banks to understand customer sentiment and intent while accurately notating the customer calls and outcomes. Once a customer call is complete, a summary is presented for the agent to make edits if required and upload automatically into the CRM system, thus reducing wrap up times, lowering AHT and improving performance. Automation also enables agents to deliver a more conversational experience to customers, thus improving CSAT and NPS.

There is a wealth of information within each customer call about agents as well. The ACW sheds light on why specific calls are more time-consuming than others, which agents are more efficient, the core competencies of each agent, etc. The call summary generated automatically serves as the true north to assign the right tasks to the suitable agents, reduce the sticking points, and provide targeted coaching to agents.

With AI and automation, the legacy banking giants can match or even exceed the customer service provided by nimble fintech players. The ACW information empowers banks gain hidden customer insights, ensure customer interaction leads to a desired outcome, and optimize future conversations.

Get in touch with Uniphore to learn how you can automate ACW and improve customer service.