APAC CIO Outlook
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Agile

    AI Healthcare

    Artificial Intelligence

    Aviation

    Bi and Analytics

    Big Data

    Cloud

    Cyber Security

    Digital Infrastructure

    Digital Marketing

    Digital Transformation

    Digital Twin

    Drone

    Internet of Things

    Low Code No Code

    Networking

    Remote Work

    Startup

    Unified Communication

    Wireless

  • E-Commerce

    Education

    FinTech

    Healthcare

    Manufacturing

    Pharma and Life Science

    Retail

    Travel and Hospitality

  • Dell

    IBM

    Microsoft

    Salesforce

    SAP

  • Cognitive

    Compliance

    Contact Center

    Corporate Finance

    Data Center

    Data Integration

    Digital Asset Management

    Full Stack Development

    HR Technology

    IT Service Management

    Managed Services

    Procurement

    Proptech

    RegTech

Menu
    • Compliance
    • IBM
    • Big Data
    • Unified Communication
    • Digital Infrastructure
    • Data Center
    • Salesforce
    • MORE
    #

    Apac CIO Outlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIO Outlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • News
    • Contact Center
    Editor's Pick (1 - 4 of 8)
    left
    Culture Eats Strategy For Breakfast, Lunch, And Dinner

    Julie Valencia, Head of Customer Care, Paymark

    Technology- The Third Facet of Guest Experience

    John De Angelis, CIO, The Star Entertainment Group

    Sales Automation in B2B: The Secret Sauce to Business Growth

    Julian Song, Digital & eCommerce Manager, Kerry Asia Pacific Middle East & Africa

    Internet of Things - A Missed Opportunity in the Fight Against COVID-19

    Sean Byrne, CEO and President, Cortex Technologies Corporation

    Self Service: An important slice of the digital transformation pie

    Christopher Douglas, Director Member Services Pacific, Accor Plus

    CX and Contact Centers 2021

    Jacque Lim, Regional Head of Service Delivery Asia Pacific, Aspire Lifestyles

    Winning the Customer Service Rush During the Holiday Returns Season

    Mark Abramowitz, SVP Marketing, Service Cloud at Salesforce

    Be Employee-Centric and the Customers Will Follow

    Babul Balakrishnan, AVP Customer Experience Operations, Starhub [Sgx: Cc3]

    right

    Contact Center Transformation in the New Normal

    Apac CIO Outlook | Monday, January 03, 2022
    Tweet

    Many financial institutions have shifted from on-premise solutions to cloud computing contact centres as a result of the shift in operations. Cloud-based systems enable banks to scale quickly in order to better manage increasing call volumes.

    Fremont, CA: As businesses closed their doors because of the pandemic's health concerns, brick-and-mortar bank branches also closed, and financial services providers across the country struggled to manage the surge in call-center volumes.

    This adversity has provided an opportunity for banks to transform their call centres and win the loyalty of their customers through quality service.

    Recognizing that COVID-19 has created a "new normal" is the first step toward capitalizing on this seismic shift. Financial service providers should recognize that their processes are still evolving and may need to be modified. It is critical to conduct regular reviews of the new processes and metrics to ensure that operations continue to evolve.

    Shifting to the Cloud

    Many financial institutions have shifted from on-premise solutions to cloud computing contact centres as a result of the shift in operations. Cloud-based systems enable banks to scale quickly in order to better manage increasing call volumes.

    Cloud-based systems also enable financial services firms to maintain fixed costs. Banks will be able to quickly adjust their resource requirements and prices in response to changes in demand. It is critical to consider expenses because most businesses are bracing for varying degrees of financial stress and unpredictability in the coming months.

    Another consideration is agent monitoring, coaching, and retraining. Many financial institutions have traditionally used Key Performance Indicators (KPI) to assess the overall performance of their contact centres. KPIs, on the other hand, are no longer providing a clear picture of the contact center's health, and new methods of measuring agent productivity are required. To assess agent performance, contact centres can use workforce optimization capabilities such as analytics and quality assurance. These tools enable supervisors to remotely monitor the agent's productivity and gain insight into how much time is spent managing the desktop agent.

    The abrupt change in business processes caused by the pandemic must be addressed meaningfully. Employees should be provided with virtual training and change management programs to educate them on how to use new technologies, processes, policies, and collaboration toolkits. Agents should be coached on a regular basis using collaboration tools to ensure that productivity levels remain consistent, as they were before the pandemic.

    AI to Improve Efficiencies

    Banks now spend up to $10 per contact on call centres. With increasing call volumes, the cost of handling these calls rises. Hiring, training, and retaining call centre staff has long been a source of frustration for banks, with attrition rates of up to 30%. Furthermore, in the current uncertain environment, many banks are hesitant to invest in additional staff, putting additional strain on their balance sheets.

    Instead, to improve operational efficiencies at the call centre and to handle the ever-increasing volume of customer calls, several banks have turned to artificial intelligence-based solutions. This strategy may include placing a "virtual assistant" in front of a bank's existing call centre to automate responses to a large number of incoming calls. Such automation can free up bank employees' time to answer more complex questions from customers, improving their overall experience.

    Banking technology that is advanced enough to understand questions with near-perfect accuracy enables banks to engage with their customers more effectively and provide personalized experiences 24 hours a day, seven days a week. It may also assist financial service providers in cross-selling products to customers in ways that promote financial wellness.

    Better preparations are being made to ensure business continuity as a result of the pandemic's experiences, challenges, and learnings. Banks are implementing technologies to transform call centre operations, allowing them to scale more efficiently, provide better customer experiences, and be future-ready.

    See Also: Top Contact Center Solution Companies

    tag

    Financial

    Cloud Computing

    Business Continuity

    Change Management

    virtual assistant

    Weekly Brief

    loading
    ON THE DECK

    Digital Twin 2022

    Top Vendors

    E-Commerce 2022

    Top Vendors

    Previous Next

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    Achieving Business Agility

    Key Challenges Facing Real-time Data Processing in Data Centers

    Digital Transformation Agility

    Angela Lam, CIO Shell Australia, COG & Integrated Gas, Shell (NYSE: SHEL)

    Technology Trends Impacting Digital Infrastructure in 2022

    The Benefits of Portable Solar Generators for Cities

    Agile Culture -The Path To Business Success

    Loading...

    Copyright © 2022 APAC CIOoutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    |  Sitemap |  Subscribe |   About us

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://www.apacciooutlook.com/news/contact-center-transformation-in-the-new-normal-nwid-8729.html