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

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

SalesForce.com is unarguably the largest sales lead management solution in the world. However at < 20% of the cost for the same and more enhanced functionality bxp has been the reason for many businesses to change.

If you know SalesForce you know what you want, now get it cheaper. If you'd like to know more then have a read of Scenario_-_bxp_and_Lead_Generation_and_Pipeline_Management

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. File:Whitepaper - Analysing Sales Data v2-2.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 (Business Process Outsourcer) 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

With small teams / smaller branches the cost of training and compliance management is magnified. You can't have everyone disappear at the same time to go training. bxp was able to deliver that training in an ongoing and audit-able way with no need to transport staff or cause loss of working day through relocation. Remotely sending trainers stopped with massive savings and displacement costs.

For team and morale building exercises, videos and conferencing tools are facilitated all within the security of a single solution.

Centralised auditing capability means that one compliance team can drill down to even the most remote branch to ensure they are treated and respected as any staff member throughout the organisation.

The use of bxp alone can reduce insurance and professional indemnity costs. The cost saving in professional consistent delivery alone makes bxp the most effective distributed staff management tool available.

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

3.6 Marketing

3.6.1 Role: Digital marketing spend tracking

Media Manager is a tool that was expressly built into bxp to allow for far greater refinement and support of marketing based activity.

The standard tools for interacting with customers are forms in bxp. These allow for logic branching. As part of the script it is possible to add a field to allow the capture of a media code. At the very bottom of the script it is also possible to include the media schedule for previous 2 hours and the forth coming hour. This listing of media events allows agents to be made aware of what's coming up to ask more probing and meaningful questions as to "Where did you hear about us?".

Using this engine a number of advantages are facilitated:

• Agents can check against actual advertisements going out
• For TV and Radio ads, better staffing can be attained as people don't go on break when a big ad is going out
• Response to ads can now be properly allocated

The bxp engine allows for the marketing department to manage the Media Schedule without adding overhead to operations. Schedules can be loaded weeks in advance. Most importantly demographic tracking is available in real time to marketers and 3rd party marketing companies to leverage real time response figures in assisting spend decisions.

bxp has demonstrate-ably been used to :

• Reclaim money from Advertising companies who did not put an ad out at all
• Reclaim money from Advertising companies who deliver ads not to schedule
• Improve response rates by staffing appropriately to ad schedules
• Directly influence marketing spend to maximise Return On Investment based on response rates
• Allow for real time shuffling of schedules to maximise return (ad slots were move to drive time home slots as people didn't call whilst in work)

Find out more about our Media Manager: Module_-_Media_Manager

Where marketing and intelligent tracking solutions such as ResponseTap are used, these can also be integrated to provide end to end reporting ResponseTap

3.6.2 Role: Satmetrix NPS facilitating tool

Satmetrix are the providers of the Net Promoter Score model. NPS Info bxp provides operational integration tools that allows automation of interactions whilst not increasing AHT.

Where the internal IT team may state it will take a long time to adapt, bxp is frequently used as the tactical solution to immediately get the solution up and running.

The resulting feedback can be set to be an automatic campaign with queued records to be rung to immediately deal with detractors.

Find out more about NPS and bxp here Net_Promoter_Score

3.6.3 Role: Scheduled marketing tool

bxp has a scheduling heart beat which executes every 5 minutes. On these beats can be attached events, such as sending emails or SMS messages.

Schedule marketing facilitates programs such as

1. The potential customer (A), interacts with an employee in a branch / store (B)
2. If a customer's (A) need is identified for the future, the employee (B) logs the contact details of potential (A) in a bxp form
3. The information is stored in a secure campaign database.
4. At scheduled intervals approximately 20 days before the key renewal date an email is sent to the potential customer (A)
5. At scheduled intervals approximately 7 days before the key renewal date an SMS and / or Email is sent to the customer (A)
6. At scheduled intervals approximately 3 days before the key renewal date the contact centre based team (C) contact the potential customer (A)

3.6.4 Role: Mass Marketing tool

bxp has the ability to send group texts and emails. With "clickthru" technology integrated into the messages allows for instant campaigns to be self build to allow tactical responses to be compliacated but require no IT integration overhead.

All n One's vast experience in this area and ability to consult and support any solution allows us to give you the very solution.

• Email : Email_-_Start_Here
• Email : Communications_-_Email_Clickthru
• Email : Email_-_Improving_Delivery_Rates
• Social Media : Scenario_-_bxp_and_Social_Media
• SMS: Comms_SMS_Engine_Enhancements_2014_04
• Communications articles Category:Topic:Communications
• Marketing articles Category:Topic:Marketing

3.7 Field Work

3.7.1 Role: Fields Sales

As a winner of the best use of Technology for Sales in 2012 for our field sales work with CPM Ireland, bxp is an ideal solution for in the field data capture. Release_History#2012

No data is stored on the device and the solution will work on commodity hardware.

Proper Return on Investment can be demonstrated Scenario_-_bxp_for_Field_Sales

bxp even works in an offline mode where data coverage may not be great or available at all Using_Forms_Offline

A huge challenge of field teams is churn. A difficult job at the best of times. Churn is the leaving and hiring of staff. bxp allows automated training along with quality checking.

bxp working remotely on tablets can provide GPS data back to management to track operations.

Grouped targeting allows for focused sales campaigns and real time redistribution of labour.

bxp working on a tablet allows for actions to occur in real time. Account creation, sales, customer care requests, escalations are all instant with audit-able tracking. No custom builds with team leads / managers able to adapt business processes as required.

bxp can even be used in remote areas with no Internet coverage and we have won field sales awards to back this up. Release_History#Award History

To find out more about this technology you can read here Scenario_-_bxp_for_Field_Sales

3.7.2 Role: Web enabling legacy IT solutions

bxp can be used as a web enabling wrapper around legacy technology. Having successfully delivered solutions for a number of client, bxp represents a powerful alternate to blind expensive upgrades Scenario_-_bxp_as_a_System_Wrapper

3.7.3 Role: Customer retention management

As discussed earlier in this article #Role: Customer Retention program management retention programs have massive benefits. Using the web enabled capability of bxp #Role: Web enabling legacy IT solutions as well, bxp was able to bring the power of centralised solutions to a very distributed group.

Walking into a shop / branch is just as powerful as calling the centre. No need for staff to call the centre, they can perform exactly the same options from the store.

With the same learning and training support tools, staff in a location have all the same capability at their fingertips.

Security in bxp allows for specific users to be locked to specific IP addresses, so employees can only work from one store. Intelligent locking ensured that if an agent was to "walk away" from a terminal it would self lock within X seconds.

The very cost effective licensing meant that all the tools used were universal and single central budgeting and globally available functionality, coupled with speed of roll out meant bxp was the ideal solution to maximise employee capabilities.

3.8 Back Office

3.8.1 Role: Robotix solutions

bxp can be used in combination with a number of other tools such as Robotic Process Automation to facilitate seamless integration with existing work practices. 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 or send us an email to sales@bxpsoftware.com