INDUSTRY
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Banking
Banking on purpose-led ecosystems
Highlights
- Deliver unified CX across the value chain with TCS’ CEM Suite
- Rethink customer interaction, optimize operations
- Provide a superlative customer experience
- Access real-time data, maintain quality and compliance
in this article
Abstract
As customers demand more self-service options, customer experience has become a top priority for businesses today.
Customer experience (CX), is a key competitive differentiator for companies across industries; it is, therefore, imperative for companies—including banks, financial services, and insurance (BFSI) firms—to invest in this space.
TCS' Customer Experience Management Suite for the BFSI industry caters to the entire value chain – from originations to sales, services, and collections. The suite leverages analytics and multichannel interaction to streamline customer communication and has powerful self-service modules to boost throughput and contain costs.
Overview
BFSI enterprises are looking to transform their legacy contact centers that rely primarily on voice.
This leads to high cost of operations as call volumes increase and customer needs become more nuanced. It is, therefore, crucial to explore alternate channels of communication. Additionally, with the advent of new-age technologies and the proliferation of smart devices, today's customers demand easier access to information through many channels for better CX. There is, however, a disconnect between the high-performance, fully digitalized service ecosystem, as expected by customers, and the systems currently in place.
BFSI enterprises should explore multi-channel customer experience management powered by data analytics to meet customers' expectations. This will enable them to achieve the required quality standards while eliminating internal inefficiencies.
TCS has over two decades of experience in managing contact centers for global enterprises across industries. We offer a data-driven, automation-led approach that integrates a variety of service channels into a single pipeline – from inbound and outbound calls to email, web, and chat managed manually or through bots. TCS’ suite spans key service areas, including originations, customer service, collections, maturity and surrender and sales, and so on.
Our solution
TCS’ Customer Experience Management Suite helps you rethink customer interactions across key service areas.
It incorporates self-service modules and data analytics to drive predictive decision-making.
TCS offers:
- Self-service options: Leverage web-based interfaces, social media, bots, and mobile apps to avail of self-service options, in conjunction with the traditional voice-based contact center.
- Collections services: Deploy analytics-driven credit operations to deliver an exceptional experience at all touchpoints, setting customized business rules such as ‘skip trace’ for non-contactable customers and payment plans based on customer needs.
- Analytics-based operations optimization: Resolve issues and conduct root cause analysis through speech and text analytics. Use predictive analytics to identify upselling and cross-selling opportunities and leverage tailored campaigns for anticipated delinquencies.
- Digital quality check: Maintain quality and compliance through a checklist-driven platform fueled by real-time data, drive predictive decision-making, enhance the operational experience, and ensure compliance.
Benefits
With TCS' suite, BFSI enterprises can implement customer-centric operating models through lean, efficient, and scalable contact centers.
Our offerings help reduce the cycle time for various processes, boost customer experience and employee productivity, and minimize operating costs. Key benefits include:
- Cost reduction: TCS’ suite seamlessly combines IT capabilities and business operations support to deliver unmatched levels of customer service, predict delinquency instances, build new channels for collection, and enhance customer service quality and net promoter scores (NPS).
- Strengthening brand image: By replacing the traditional contact channels with a holistic, multichannel approach across web, social, and bots, financial services firms can create a unified brand and service experience for customers.
- Workforce optimization: Our range of automation and analytics solutions improve contact center workforce management to enhance output and efficiency.
The TCS advantage
TCS is uniquely positioned to deliver new-age solutions for the modern financial services sector.
TCS brings the following differentiators to an engagement:
- Domain expertise: TCS has over three decades of experience in the customer experience management space. This, along with our deep domain knowledge, helps us develop custom solutions to meet the diverse requirements of our customers.
- Business consulting: Our team of certified finance professionals helps connect the business, finance, and technology levers of TCS solutions. We enable our clients to rapidly identify improvement areas, positively impacting the top and bottom lines.
- Industry knowledge: Given frequent changes in the contact center as well as the credit operations space, TCS consistently ensures adherence to local policies and regulations.
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