INDUSTRY: Financial Services

THE COMPANY: One of the world’s full service universal banks, which provides and offers a wide range of corporate, commercial, consumer and international banking services

PRINCIPAL ACTIVITIES: Consumer Banking, Small Business Banking, Investment Banking, Capital Markets and Lending

BUSINESS CHALLENGE:

With the financial services and banking industry players aligning business strategies brought about by industry deregulation, the Client chose to put renewed and aggressive emphasis to its growing number of customers. The 26 year old bank, with assets currently over PHP 63 billion, aimed to efficiently manage customer interaction to gain more competitive advantage in the local banking industry. The bank aimed to achieve above-industry growth rates through its superior execution abilities, innovative products, and expansion into new markets, while maintaining a focused approach to its various businesses.

SOLUTION:

The bank was focused. It thought ahead of solutions that fit its requirements and thus, entered into a strategic partnership with ePLDT Ventus. The bank chose Ventus as its trusted partner to execute its strategy by outsourcing its mass credit card customer service, while their in-house contact center focused on their high net-worth clients. Over the years, the bank has partnered with Ventus across multiple programs to better manage the overall customer experience. ePLDT Ventus’ customer life cycle management solutions have helped the bank achieve its goals in the following areas:

    Alignment of Key Metrics to Business Goals

Metric: Quality Score

The bank considered service quality for customer calls as being critical to growing and retaining its customer base.

Striving to maximize each customer relationship, the company mandated a quality rating goal of 80%.

ePLDT Ventus developed and implemented strategies to significantly increase and sustain quality scores. The plan included the participation from the quality and process improvement team.

Coaching and Training

• Extensive training on customer service and error prevention strategies
• Implemented a new coaching process
• Introduced “Teach rather than Preach” method
• Consistent coaching by highly trained management team
• Targeted scenario based training in controlled setting to improve performance in key areas

Foundation of Best Practices

• Best practice repository was created (Feed Your Mind) and made available across all programs and teams
• Team meeting monitoring was implemented to make sure communication of key metrics are properly disseminated

      Human Capital Strategies

Agent Empowerment

Continuous up training was provided to specialists as part of ePLDT Ventus’ Agent Empowerment Program. The objective was to consistently assess, design and implement programs and systematic processes to set metrics, communicate essential skills, knowledge, and provide feedback and coaching, specific to every individual’s unique skill sets.

ePLDT Ventus Rewards Program

By aligning the Client’s strategic goals to agents’ scorecards and ultimately tying this to ePLDT Ventus’ Rewards Program, the specialists understood how and why their contribution matters. Rewards inspired them to track their own performance, improve and enhance the customer experience and thereby encourage customer loyalty and retention.

RESULT

The quality of support ePLDT Ventus extended to customers would in turn measure the overall relationship of the bank with its own customers. Throughout its partnership with the Client, ePLDT Ventus consistently exceeded the bank’s quality metrics thereby helping the Client achieve a balance between its retention goals and process improvement.

Ventus surpassed the Client’s call quality score requirements by 13%, scoring an average of 93% versus the Client goal of 80%.In 2006, Ventus successfully ended the year averaging 98.3% versus the 80% Client goal.