The Provident Bank Touts First-Call Problem Resolution Rate of 95 ...

Tag : Computer Phone Call
Echopass Corporation, the number one provider of hosted contactcenter services to the enterprise market, today announced that TheProvident Bank is continuing to see sustained, dramatic customerservice improvements since they began using Echopass hosted ContactCenter On-Demand solutions three years ago. With Echopass, the bankcut the average duration of inbound customer service phone calls by40 percent and reached a first-call problem resolution rate of 95percent. Successfully implemented in 2005, the Echopass solution continuesto help The Provident Bank answer customer calls more quickly whilereducing its number of abandoned calls and decreasing customer waittimes. Driving the improvements have been Echopass' sophisticatedagent routing and a unique computer "screen pop" that displays keycustomer data to contact center agents instantly as they answer thecall; and the companies jointly working together to identify,create and quickly implement incremental solutions and servicesthat continue to help increase Provident's agent effectiveness andcustomer service. "Since we've deployed the Echopass Call Center Service, my agentsare happier with the information and efficiency of the system,"said Marcia Blunt, vice president of Remote Banking for TheProvident Bank. "We have improved sales results and satisfiedcustomers with the added attention they receive -- and in thebanking industry, those are improvements that translate directly tothe bottom line." Vincent Deschamps, chief executive officer of Echopass Corporation,said, "Even in a challenging business environment three years afterinitially implementing Echopass, The Provident Bank continues toenjoy dramatic improvements. The bank's previous on-premise,hardware-based contact center was inflexible and couldn't supportimprovements. Our on-demand hosted services continue to make sensefor Provident year after year because we help customers maximizeflexibility and eliminate risk. The bank pays monthly only for theEchopass services and number of agents using our technology, whichwe can easily increase or decrease to fit their changing businessneeds. Customers appreciate that we also integrate with a widerange of applications and technology partners, and manage theentire service end to end. Our essence is about providingoutstanding customer service to enable our own customers to providea great customer experience." Banking on Echopass When Echopass was initially deployed at Provident, one of thepriorities on their wish list for call center agents was a "screenpop" function that would eliminate the need to ask customerstedious, time-consuming questions. Echopass and The Provident Bankworked together to analyze the bank's call center data, looking forthe most common information requests to develop a working solution. Based on the requirements, Echopass developed a unique systemsinterface to the bank's Fidelity applications and a customized homescreen for The Provident Bank agents to instantly provide agentswith the customer data and account information needed to answer themost frequently asked questions. "Since we got started with Echopass, as soon as a call comes in,our agents have 95 percent of the customer's data at theirfingertips," said Jack Novielli, senior vice president for TheProvident Bank and founder and chairman of the Fidelity CharterUsers Group. "The screen pop vastly improved the overall callhandling and customer experience, and we've been able to maintain ahigh level of customer satisfaction ever since." Another key Echopass provided benefit was a sophisticated,skills-based routing protocol that ensures customers are connectedto an agent with the precise expertise necessary to resolve thecustomer's concern. At the core level, Provident's callers areprovided with language options for agents with specific languageskills. At the next level, calls are routed to the agent with thelevel of expertise appropriate for the request -- personal vs.business accounts, for example, or sales vs. service. Meeting the Highest Standards and Further Improving With the hosted contact center from Echopass, ninety percent of TheProvident Bank's inbound customer call volume is answered withinthe first 20 seconds -- high by any industry measure. Call durationhas been reduced by 40 percent, down to 2.5 minutes. The averagecustomer wait time has been cut in half, down to 12 seconds.Abandoned calls have been minimized, down to 2.84 percent. Best ofall, first-call problem resolution peaked and remains a healthy 95percent. Equipped with the Echopass services, The Provident Bankimproved its customer service without hiring any additionalpersonnel. All of these metrics have held steady over the course ofthe Echopass/Provident three-year relationship. "Agents are able to greet callers by name," Novielli said. "Also,because data is right in front of the agent as opposed to togglingthrough multiple screens and cutting-and-pasting informationbetween systems, service personnel are able to address customerissues almost immediately." In search of further improvements, The Provident Bank isinvestigating web chat, email, and automated customer surveyservices from Echopass. Tighter integration with the bank's coreapplications from Fidelity National Information Services is also inthe works. The enhanced Fidelity integration will give call centeragents direct access to the Fidelity systems, eliminating time andkeystrokes to expedite and further improve customer service. Thebank is also looking to integrate the Echopass service with anupcoming Customer Relationship Management (CRM) softwareimplementation. For more information on The Provident Bank, please visithttp://www.providentbanknj.com/. For more information on Echopass,please visit www.echopass.com. Recent Echopass News and Resources News release and video: AccountNow Raises the Bar on CustomerService with Echopass On-Demand Services;http://echopass.com/about_press/2008/7-29-2008.php;http://www.echopass.com/finservices/accountnow.wmv News release: Financial Services Companies Optimize CustomerService and Lower Costs by Implementing Echopass Hosted ContactCenter Services;http://www.echopass.com/about_press/2008/4-30-2008.php Commentary: From Meltdown to Breakout: Financial Services Preparesfor Customer Service Overhaul; by Echopass CEO Vincent Deschamps;http://www.echopass.com/finservices/customeroverhaul.html About The Provident Bank The Provident Bank is a community- and customer-oriented bankingcompany originally established in 1839. With over $6 billion inassets, The Provident Bank emphasizes personal service and customerconvenience in attending to the financial needs of individuals,families and businesses in northern and central New Jersey. Thebank offers a broad array of deposit, loan, trust and investmentproducts. In keeping with its Customer-Centric Strategy, TheProvident Bank builds and retains customer relationships throughits network of 84 full service branches, 81 ATM locations and itstelephone and web-based banking services by delivering on its brandpromise -- "Hassle-Free Banking for Busy People."http://www.providentbanknj.com/. About Echopass Corporation Echopass Corporation is the #1 provider of hosted contact centerservices to the enterprise market, delivered through its uniqueEchoSystem(TM) Service Integration Platform. Only Echopass deliversthe promise of On-Demand, Always On, Guaranteed, and End-to-Endsolutions that are both affordable and fully integrated withclients' existing customer contact applications and voice or datatechnologies. Echopass managed solutions are quick to deploy, easyto use, flexible, and require no capital investment or ongoingmaintenance. Privately-held Echopass, backed by venture capitalfirms Canaan Partners and New Enterprise Associates, is a recipientof numerous industry awards for innovation and customer service,including the Frost & Sullivan 2008 Customer Service Leadershipand Red Herring Top 100 Companies awards. The company isheadquartered in Pleasanton, CA. For additional information, pleasevisit www.echopass.com or call 1-888-622-5345. Echopass and Echopass products are registered trademarks ofEchopass Corporation. All other trademarks and service marks arethe property of their respective owners.