Financial Services Client Story

Fast-growing Fintech Achieves Fast CSAT Improvements

A hypergrowth Fintech scaled its customer support with a digitally enabled team-based approach and emphasis on data security.

CSAT increased from<br />
54% to 80%
13% improvement in <br />
CSAT in only 4 months

The Challenge

An innovative fintech company that provides credit scores and other financial resources experienced tremendous hypergrowth, jumping from 1 million customers in 2010 to 80 million by 2018. The company knew that a focus on customer satisfaction and security would spur continued growth and stave off competition.

It set an ambitious goal to move its CSAT to industry-leading levels and expand digital customer support channels. In addition, with data security a top concern, it wanted to work with a partner with domain expertise in cybersecurity and technology. The company chose to partner with TTEC for its outcome-based approach to CX delivery and its superior data security expertise.

The Solution

TTEC was initially engaged to support the client’s tax product, which required flexibility to ramp up staffing during the busy tax season. TTEC’s performance during this period demonstrated its ability to “move the needle” on CSAT. For most of the year support is provided via an online ticketing system, but in late Q4 and through the tax season, a live chat channel is opened to customers. Successful operations during this stressful time of year gave the client the confidence to move more core customer service operations to TTEC. The team is now several hundred teammates-strong and rapidly closing the gap to achieving the best-in-class 95% CSAT target. A chat-only channel product is being launched to provide all support in the future, as well.

TTEC partnered with the client to collaborate on several customer initiatives. Analytics helped identify CSAT drivers and friction points in existing processes that could be improved. Proactive solutions were proposed and implemented, including changes to FAQs, knowledgebase updates, and even some product changes. Customers were also proactively contacted when tax filing services expanded to their state, for example.

To ensure rigorous data security and confidentiality, TTEC used a number of security tools and best practices, including two-factor authentication, YubiKey hardware security devices, and giving the client control access to all workstations at the TTEC location.

In addition, TTEC moved away from traditional individual performance rankings to a “team success” model. This shift incentivized collaboration between teammates to deliver the best possible experience for customers and create a culture of team success, mentorship, and collaboration. The performance model fostered team success, ensuring that all interactions provided the best possible customer experience. Every tenured teammate served as a mentor to ensure their individual team drove the best possible outcome. Team leaders were involved in individual cases and led by example. Daily stand-up sessions were held by each team to update all teammates on trends and issues, and daily recognition of excellent performance was reinforced with small rewards.

TTEC’s hiring process leveraged advanced AI profiling technologies to find high-quality staff to deliver great service, even during fast-paced seasonal ramp ups. In particular, specific skills in new hires included the ability to multi-task, query efficiently, and expertly solve problems.

TTEC also influenced the client’s training curriculum, providing a roadmap to focus training on areas that would increase customer satisfaction. Sharing insights and recommendations resulted in optimized content connected to core engagement drivers, and improved quality and efficiency. The client’s Learning Management Tool (LMS) is a sophisticated digital self-study program, with only 30-40% of training delivered in face-to-face sessions. Team performance was regularly reviewed and team leaders assigned training modules to individuals based on their performance and behaviors, and then could measure the individual impact on outcomes.

The Results

TTEC’s innovative approach to hiring, performance monitoring, and team-based success measurement has had a direct impact on outcomes. Within just four months of starting the relationship, the client saw a 13% improvement in CSAT. Scores steadily increased by 48% (from 54% to 80%) in one year, moving the client closer to its 95% CSAT target. Innovative hiring strategies and tactics delivered a highly skilled, motivated team aligned to the brand’s culture and vision, even during seasonal fluctuations. And the proactive, collaborative partnership has helped deliver real improvements to process and outcomes.

TTEC’s relationship with the client continues to grow as it expands into new products and markets.


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