Scenario - bxp for the Financial Sector

1 Introduction

bxp provides an enormous tool kit to be able to address the operational challenges of the financial sector. Where contact and customer service are second only to compliance having a tool kit like bxp enables a financial business innovate and continuously improve whilst also complying with the highest and most difficult of rules and regulations.

2 Examples of clients using / have used this solution

Bank of Ireland

RSA

Ladbrokes

PaddyPower

FEXCO

3 Areas

bxp is a flexible toolkit which can and has been applied in many different ways by various different departments within financial services companies.

Most of our projects have begun as tactical programs / issues for teams circa 10 to 20 staff which have grown to be strategic business wide solutions.

3.1 Compliance

3.1.1 Role: Security adherence

Being able to meet all the security regulations of a financial institution requires a huge attention to detail, an extensive knowledge of security and a capability to adapt to various requirements. All n One as a team and bxp as a platform excel in these abilities.

As a supplier we are ready, willing and able to open the sock drawer to allow any security audit or compliance mechanism review and make themselves comfortable that our security procedures and mechanisms are second to none and will meet their requirements. Before any engagement we provide an extensive amount of security documentation to allow our clients review exactly what levels of security we provide. Security_-_Start_Here

At the start of any engagement a Non-Disclosure Agreement is put in place then any amount of further "nervousness" can be completely removed. Prototypes and sandbox solutions are quickly and easily developed and made available to allow any client see exactly what they get when they enter contract.

Contract terms and conditions can be expanded as required to facilitate n'th level support for every contingency.

3.1.2 Role: Person-centric design

When running multiple marketing campaigns to contact customers it can be laborious to ensure complaince is met. For example. Two insurance offerings are being sold, home and motor. Contact is made with the customer on Monday for home insurance. On Tuesday how does motor know that it cannot contact the customer without annoying the customer and potentially killing two sales opportunities. Person-centric design within bxp allows exactly this scenario to be manage across every campaign and activity, inbound or outbound, through any combination of media. Scenario_-_bxp_and_Person-centric_design

3.1.3 Role: Compliant delivery

bxp scripts have the ability to dynamically change. Logic_Management. Ensuring that an agent has delivered the compliance statement fully and correctly can now be easily managed.

• Question 1. The statement to be read
• Question 2. Have you delivered this statement to the customer? Yes | No

The script does not continue till the agent selects "Yes". In this way you can ensure that agents follow process, take personal responsibility for delivery and you can operationally report on where a process stops (which can lead to process improvement).

Scripts are managed by team leads / super users / compliance staff, removing the wait times for IT professionals to change operational scripting. One famous quote we received was "What I waiting for two weeks for IT not to do, I accomplished in 11 seconds on your system!"

3.1.4 Role: CTI integration

For PCI compliance and a host of other secure solutions, bxp can facilitate data not leaving phone system or secured environment solutions. With complete paperless solutions, bxp allows the technology wherever possible to deliver compliance. We have integrated with a number of phone and communications platforms that can deliver out of the box PCI compliance. Scenario_-_bxp_Integration_with_a_Phone_System#Client_Software

CTI integration also allows for massive process improvement, improved customer experience and a host of other operational enhancements. Scenario_-_bxp_Integration_with_a_Phone_System#Why_integrate_with_bxp_.3F

3.2 Sales

3.2.1 Role: SalesForce.com replacement

bxp can do everything SalesForce can do at approximately 20% of the cost yet comply fully with European Legislation. Enough said.

3.2.2 Role: BPO management solution

bxp is used to allow a "data owner" aka "data controller", provide limited / operational access to data for 3rd party outsources access data in a structured and auditable way. Delivery of campaigns by multiple 3rd parties allows the owner to ensure compliance and also perform "beauty pageants". There is an extensive amount of good reasons to use bxp as a BPO management tool Scenario_-_bxp_for_Process_Owners_and_BPO_management

3.2.3 Role: Best Next Action (BNA) Support

Best Next Action improves sales delivery, enhances customer care and provides the customer with a tailored experience. More and more this area is used to increase productivity and give effective metrics back to marketing on their programs and offers in real time. Find out more here Scenario_-_bxp_and_best_next_action

3.2.4 Role: Sales operation analysis

bxp allows operations to review their data in real time. Often the collaberation between marketing, operations in the call centre and the branches can be at odds. One central data source can provide insight to all as to exactly where processes need refinement. We provide a worked case study that was generated from in the field experience to see what you might wish to achieve. Whitepaper_-_Analysing_Sales_Data_v2-1.pdf

3.3 Customer Care

3.3.1 Role: Customer retention program management (Outbound)

Often branches / outlets / stores would love to remain in contact with regular / semi regular customers but capacity prohibits much pro active behaviour. bxp's centralised data approach gives a central contact centre or even a bpo the ability to appear as if closely connected to the branch.

The centre begins outbound calling. The system presents to the agent the following information:

• Customer to be called
• All notes / history on the customer
• Best Next Action
• Names of the staff at the branch the customer is with, including managers details and specialists
• Offers in the branch
• System facilitates notification / contact updates directly to the branch

The agent has the ability to seamlessly wrap around branch operations and with the tool provided to the branch a complete picture of pro-activity and reaction from the customer can be recorded in a single place.

3.3.2 Role: Customer education programs (Outbound)

Services and operations for finance change all the time.

For B2C channels

• Change from signature for credit cards to chip and pin.
• Move from cashier based transactions to technology / ATM based solutions
• Removal of cheques as a payment method
• Re-education of spam and phishing techniques employed by malicious 3rd parties
• Support for non-technical customers

For B2B channels

• Change from signature for credit cards to chip and pin.
• Anti-Money Laundering (AML) compliance
• Service capability and upgrades
• Security measure reminder campaigns

A constant program of education is part of the service delivery of any financial based business. bxp not only provides a campaign management tool but also the follow up management, sms and / or email management and compliance checking tools to ensure proper and complete delivery of any program.

All programs come with integrated date and time auditing of every activity for security and compliance verification.

3.3.3 Role: Customer retention tool (Inbound)

A customer phones up and wants to cancel their account. What is done to retain the customer? A lot of solutions use the intelligence and experience of agents to make judgements. From time to time this can lead to mistakes and abuse of systems.

bxp is used to lookup the customer record. Where integration with the phone system is possible, the customer is looked up automatically based on IVR or CLID information. The customers primary details can be assessed.

• Length of service supply
• Current average spends / value
• Services used

From this matrices of appropriate offers can be applied automatically. Customers can be grouped easily into categories such as Bronze, Silver, Gold, Platinum etc. Retention packages are then appropriate to the grouping.

So Customer 1 phones in, with 6 months of history and a slight overdraft, bxp will allow the agent limited to no offers. Customer 2 phones in, 20 years of banking and two companies accounts, the system identifies this as a business account with many services and a strong history, so the offers are extensive which can be offer to the customer for their retention.

At the same time bxp is reminding the agent that:

• IF they lose the customer they get no bonus at all
• IF they save the customer but use the maximum offers available they get no bonus
• IF they save the customer but use a lower offer they will get a bonus

The amount of save bonus is translated into points. Those points can be used by agents for various internal rewards.

bxp is used to manage the matrix of offers, the points of the sales staff, tracks the offer successfully delivered and presents the interface which reinforces the retention message.

Live dashboard reporting gives managers instant visibility of staff performance and more importantly customer retention incentive performance (what offers work and what don't).

This solution has saved thousands of Euro in wasted / abused / misused offers.

3.3.4 Role: Case Management for Customer Care

Live Care Data

Customer Care represents the hub of responsive customer contact. Customers ring, email, social media or post in to name a few methods.

bxp provides an omni-channel contact management tool including managing the Post Room.

As a contact arrives at an agents desk, Computer Telephony Integration (CTI) allows screen pops and various configurable changes to be applied to the case management.

As this is case management and not just record logging, timing and tracking information is instantly started to be recorded.

As different forms / workflows can be created for other departments, bxp, like a central post office, can distribute cases to numerous other departments if required.

Using these tools a customer phones up with a complaint about their bill:

• The case is started in bxp
• Using an outcome that case is transferred to the billing department
• Seamlessly an email is generated and communicated to the customer to track their case and who they've interacted with
• The billing department in a couple of days begin to process the query which requires investigation
• The customer rings back in with an update to Customer Care. A copy of the posted bill is attached to the case
• bxp facilitates the update to billing via the Customer Care case
• Billing finish the enquire and automatically the case update is returned to Customer Care to follow up with the customer
• Customer care ring the customer and resolve the issue.

As result of these capabilities:

• Customer Care can without extra work transfer cases to departments who can deal with queries properly
• Billing have a processing queue which is audit-able with full case history.
• Service Level Agreement reporting is available to track the Customer Care case
• Service Level Agreement reporting is available to track the Billing case
• Response times for all internal activity is available
• All documentation and recordings are centrally allocated to an audit-able case

Where first call resolution is a primary goal instant tracking of cases is instantly available.

One version of the truth makes Care management instantly easier and more effective whilst reducing after call work to 0!

Find out more details on Case Management and its capabilities File:CC-4-4 - Case Management and Reporting v1-1.pdf

3.3.5 Role: Debt collection management

Whether done in house or outsourced, building and managing debt collection programs is a very quick setup process. Scenario_-_bxp_for_Outbound_Campaign_management

Combining debt collection with the afore mentioned Person-centric design allows the entire organisation manage a customer account properly and facilitate debt collection at every touch point with the customer.

3.4 Training / Quality

3.4.1 Role: Training and compliance management

Scheduled training with automatic staff reminders for annual compliance is as easy as getting someone to log in and perform their training. Using combinations of the eLearning suite, testing suite and process management an entire HR, training and compliance suite can be built for the standard training and for your own businesses compliance management.

Manage Continuing Professional Development (CPD) points along side all operationally certified work. One button, one profile, one instant report. Build entire automated career paths to reduce cost in training and development and improve quality and compliance Scenario_-_bxp_for_Career_Path_Development_and_Management

3.4.2 Role: Gamification and Staff development

Staff motivation programs can be difficult to manage alongside secured systems. bxp provides a complete toolset to facilitate gamification for all levels of the business. Scenario_-_bxp_for_Gamification

3.5 Data Warehousing / Business Intelligence

3.5.1 Role: Data Source management and analytics

As companies find themselves data rich but information poor bxp offers a complete data warehousing solution, along with associated support, expert knowledge in the area and a toolset knowledge to provide the intelligence needed at all levels of the information pyramid. Scenario_-_bxp_and_Data_Warehousing

3.5.2 Role: Inter-Supplier service delivery

Given the security of the mediums through which bxp works and the extensive audit trails bxp generates, bxp provides an accessible secure storage solution without compromising internal security standards. Scenario_-_bxp_as_a_secure_Website_Data_Store

3.8 Back Office

3.8.1 Role: Robotix solutions

http://www.irpanetwork.com/what-is-robotic-process-automation/

4 Conclusion

bxp is an awesome toolkit for any business, let alone Financial Services companies. All n One's experience puts it in a unique position of understanding the industry and operational requirements. See how we can make you money, save you money and set you apart from your competition. Let us help you make compliance and business management a single click of a button. Chat to us today on +353 1 429 4000, just ask for Nick.