The challenge
As a result of an Office of the Comptroller of the Currency (OCC) audit, a large, multinational bank received an order to review the call activity of 72,000 customers who had made roughly 2.8 million calls related to claims about the bank’s prepaid debit program.
The bank was required to thoroughly research every call made during a specified timeframe. Calls had to be listened to, summarized, logged, and documented to meet regulators’ requirements. The bank wasn’t staffed to take on the unexpected call volume with its in-house associates.
The solution
TTEC implemented a review process the bank had outlined to meet the regulatory requirements and provided 400-500 skilled associates tasked with call review work.
Our TTEC associates received in-depth training to ensure that the research was conducted correctly. The call review process was extremely manual, requiring associates to reference multiple databases, listen to calls, fill out forms, and make judgments on the claims.
Not only did our associates excel at taking on the tasks and ensuring all requirements were met, but they outperformed the other vendors the bank hired. In addition, TTEC identified ways to streamline and improve the bank’s processes along the way with proactive solutions. For example, after following the process requirements, TTEC associates made a recommendation that allowed the coordination of multiple databases so associates could find the information they needed more quickly and easily, which expedited the process. This also allowed other vendors to improve their performance.
Results
TTEC associates improved productivity and completed more, higher-quality work than other vendors working for the client to surpass industry benchmarks.
Our associates understood the importance of the assignment and had a 10% error rate, drastically lower than the 90% error rate of the other vendor and well below the standard error rate of 25%. In addition, TTEC associates completed 370 assignments per week, more than twice the weekly goal of 150 – and far beyond the other vendor, whose associates completed 180 per week.
The banking client noticed the TTEC results. Here are just a few things those company leaders said about working with TTEC:
- “TTEC partnership is best in class.” - Senior vice president of call listening remediation
- “Your team is proactive and ahead of the needs.” - Senior vice president of business controls
- “You bring suggestions and ideas to make the process faster and better.” - Associate vice president and senior relationship manager
- “Your leadership truly leads the team to success.” - Vice president and senior operations control manager
