Industry
Banking
Banking Services Transformation: Unlocking Exponential Value
Solution
Consulting
TCS Consulting Services to Achieve Success in the Digital Era
Highlights
- BFSI firms that aim to bolster growth by targeting a larger customer base, should elevate their customer experience across multiple channels as more and more self-service options emerge.
- TCS offers an automation-led approach to integrate a variety of service channels.
- Access real-time data, maintain quality and compliance, and deliver unified CX across the value chain with TCS’ suite of services.
Overview
As customers demand more self-service options, customer experience has become a top priority for businesses today.
It is, therefore, imperative for companies, including banks, financial services, and insurance (BFSI) firms, to invest in customer experience for a competitive edge. As more and more self-service options become available, the need for uniformity in customer experience across these channels also becomes crucial. BFSI enterprises are looking to transform their legacy contact centers that primarily rely on voice.
Growing customer base with more nuanced needs adds to the cost pressures, requiring organizations to explore alternative channels of communication. Additionally, with the advent of digital technologies and the proliferation of smart devices, today's customers demand easier access to information through many channels with similar CX. There is, however, a disconnect between the high-performance, fully digitalized service ecosystem that customers expect, and the legacy 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 enjoys 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 for BFSI caters to the entire value chain – from originations to sales, services, and collections.
It leverages analytics and multichannel interaction to streamline customer communication and has powerful self-service modules to boost throughput and contain costs.
TCS offers:
- Digital-led self-service options: Leverage web-based interfaces, social media, bots, and mobile apps, in conjunction with the traditional voice-based contact center to enable omni-channel contact center routing and avail of self-service options with effective call elimination and/or deflection
- 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.
- Quality monitoring as a service: Ensure quality and drive performance with customer satisfaction score (CSAT), net promoter score (NPS), and compliance monitoring framework.
- Workforce management: Enable real-time resource management and accurate staffing to handle intraday variations with workload projection based on historical trends.
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:
- IT-BPS synergy and reduced cost: TCS seamlessly combines IT capabilities and business operations support to deliver unmatched levels of customer service, predict delinquency instances, build new channels for service and collection, and enhance customer service quality and NPS or CSAT.
- Strengthening brand experience: By replacing the traditional contact channels with a holistic, multichannel approach across web, social media, and bots, financial services firms can create a unified brand and service experience for customers.
- Workforce optimization: Our range of automation and analytics offerings improve contact center workforce management to enhance output and efficiency.
The TCS advantage
TCS is uniquely positioned to deliver next-gen solutions for the modern financial services sector.
Domain expertise: With 25 years of exceptional delivery in the customer experience management space and 20,000 skilled associates in the domain, TCS develops customized solutions to meet the diverse requirements of our customers.
Delivery excellence: TCS serves around 50 clients across the globe, processing more than 70 million BFSI transactions annually. Our flexible, scalable, and convenient engagement models allow us to blend a location agnostic, cross-geography footprint and regularize performance standards with geo-specific languages and regulatory compliances.
Business consulting: Our team of certified contact center professionals with domain expertise in banking and insurance help connect the business, experience, domain, and technology levers of TCS solutions. We enable our clients to rapidly identify improvement areas, positively impacting the top and bottom lines.
Regulatory knowledge: Given frequent changes in the contact center as well as the credit operations space, TCS consistently ensures adherence to local policies and regulations.
