Riverside Bank

Published on 26-Nov-2007

Validated on 01 Mar 2013

Customer:
Riverside Bank

Industry:
Banking

Deployment country:
United States

IBM Business Partner:
Genesys

Overview

Riverside National Bank, with 72 branches and $5 billion in assets, the bank is large enough to provide personal and corporate customers with all of the important investing, loan and account services customers need, but it’s also small enough to offer the kind of personal service larger banks find hard to match.

Business need:
The bank’s Website stresses that service advantage, promising that “At Riverside, we can provide you with all of the big bank products that other banks offer, but it’s our commitment to superior customer service that truly makes us unique!” But this advantage was in danger of evaporating as the bank experienced explosive growth.

Solution:
Riverside worked with IBM Global Business Services and Genesys to implement a comprehensive solution for its contact center needs.

Benefits:
“Now we have many fewer abandoned calls and shorter hold times,” said Baker. “Also, Genesys reporting supplies management with a wide variety of reports that are helping us fine-tune our operations.”

Case Study

As a regional bank in Florida competing against national and international financial powerhouses for customers, Riverside National Bank (Riverside) must leverage its advantages. With 72 branches and $5 billion in assets, the bank is large enough to provide personal and corporate customers with all of the important investing, loan and account services customers need, but it’s also small enough to offer the kind of personal service larger banks find hard to match. The bank’s Website stresses that service advantage, promising that “At Riverside, we can provide you with all of the big bank products that other banks offer, but it’s our commitment to superior customer service that truly makes us unique!”

But this advantage was in danger of evaporating as the bank experienced explosive growth. Since 2005, Riverside has grown its branch network by 50% and its assets have doubled, said Rick Baker, IT Project Manager. An increased demand for customer service went hand-in-hand with this growth, and the bank soon found that its legacy contact center could not support its key competitive advantage of excellent customer service.

Challenge
Riverside depended upon an elementary and outdated contact center infrastructure that included a dated, proprietary Integrated Voice Response (IVR) System that was operating at its limits. As the bank’s business grew and customer service calls increased, the contact center was overwhelmed.

Customers were sometimes greeted with busy signals when they called for support, while others waited for long periods on hold before being helped by an agent. These long hold periods frustrated many customers, who abandoned their calls rather than continuing to wait.
Customers who abandoned their calls would often try to reach customer service at another time, and such repeated attempts further burdened the company’s contact center.

“We needed a better way to service customers,” said Baker. “Service is our key differentiator and because of that our contact center plays a key role in the success of our business.”

The contact center problems did not end when customers finally did reach agents. Because of a lack of integration between the IVR and the agent desktop, customers were forced to repeat account information that they had already entered. This frustrated customers and unnecessarily lengthened call durations. In addition, because of limited customer segmentation, many customers had to be transferred from one agent to another for help with specific tasks. This contributed to long caller hold times by reducing the number of available agents. It also raised labor costs by increasing the amount of agent time devoted to individual calls.

Riverside needed to enhance customer service by decreasing call transfers and improving customer segmentation. The bank also needed to reduce costs by leveraging self-service channels and reducing call durations. Also crucial was a reporting mechanism that would let the bank audit call processes to improve operations.

Solution
Riverside worked with IBM Global Business Services and Genesys to implement a comprehensive solution for its contact center needs.
The bank built its new contact center on the Genesys Customer Interaction Management (CIM) Platform, which captures, processes, routes and reports on all customer interactions. The Genesys system is designed in a modular way so that companies can add functionality that can seamlessly integrate with the underlying CIM platform. Riverside added the Genesys Voice Platform (GVP) to answer calls, prompt customers to enter account information, and select appropriate services. GVP software incorporates IBM’s WebSphere Voice Server to deliver speech recognition technology for conversational exchange and to provide self-service functions like reviewing account balances and resetting account passwords.

The Genesys platform offers real-time and historical reporting tools, which seamlessly integrate with another product Riverside adopted – Genesys Info Mart. The Info Mart collects relevant data so that it can be “mined” for strategic insights that can improve contact center and general business operations.

With its new Genesys contact center, Riverside customer calls are answered by the GVP 24 hours a day, seven days a week. GVP prompts customers to provide relevant information with voice commands and the Genesys CIM platform uses the data that GVP collects to properly route callers to appropriate agents or self-service applications. Calls that are routed to agents are accompanied by a screen pop on agent desktops that inform agents about the caller and his or her needs. Calls routed to self-service provide customers with a convenient option to conduct simple transactions when agent assistance is not needed. Genesys reporting tools track caller information, agent performance metrics and other data, and Info Mart analyzes it so Riverside can gain a greater insight into its business.

With the IBM System xTM servers, Riverside has a platform for growth. The IBM System xTM servers provide a stable, robust operating environment that, along with the scalable WebSphere software, can easily expand to accommodate new banking services and increasing call volumes.

Results
Genesys has delivered clear benefits to Riverside and its customers. “Now we have many fewer abandoned calls and shorter hold times,” said Baker. “Also, Genesys reporting supplies management with a wide variety of reports that are helping us fine-tune our operations.”

Today, the Genesys CIM Platform applies Riverside business rules to segment customers by a variety of criteria, including account type, loan amount and credit history. Genesys CIM analyzes data collected by GVP, applies logic to the data, and intelligently routes callers to the proper agents. In addition, with GVP, many callers can now interact with bank applications through self-service, without the need for an agent. Over 71% of incoming calls are now resolved directly through self-service via the IVR. This has significantly reduced labor costs for Riverside and delivered more convenience to customers. “We’ve had a sharp increase in the amount of customers who fully use the self-service features,” said Baker. Simple transactions such as retrieving account balances or transaction histories can be done easily and quickly through voice commands or with the telephone keypad. As a result of offering these convenient self-service options, Riverside has reported an increase in customer satisfaction.

Riverside also has the capability to add special features such as password reset for employees. The Genesys GVP Voice XML integrates directly with IBM’s WebSphere Voice Server for Speech Recognition and Text-to-Speech, which allows customers to easily reset passwords and have them e-mailed to their account.

As a result of these new Genesys applications, calls requiring agent assistance have been reduced by 20%, resulting in additional cost savings for Riverside. Furthermore, because callers are now segmented by type and routed to the best agent – and because agents benefit from screen pops containing caller information – average call durations have been cut by 30 seconds. According to Baker, “There has been a drastic decrease in customer hold time!”

Genesys routing has improved first call resolutions, so fewer calls need to be transferred from one agent to another for a customer to receive service. “Our costs have been reduced even as our customer service levels have been improved,” said Baker. “That is the best of both worlds.”

Products and services used

IBM products and services that were used in this case study.

Software:
WebSphere Voice Server

Service:
IBM Global Business Services