Contact Center Solutions Featured Article

August 05, 2009

Financial Contact Centers of the Future

By Marc Wildner


Financial institutions have relied on communications recording and quality monitoring in their contact centers for decades for a variety of purposes including verification of transactions, compliance with government regulations, protection from liability and improvement of agent performance and customer service. But today’s solutions can integrated with other systems for an enterprise-wide impact on nearly every aspect of company operations.
 
The extensive integration of quality monitoring in financial contact centers also permits more effective e-learning scenarios with live recordings used for training purposes. Thanks to new capabilities, including real-time monitoring, supervisors can intervene in an agent’s ongoing conversation without the customer’s knowledge. Upon the agent’s request, assistance can be provided either through text messages on the agent’s screen or by using a silent conference call via a “whispering” line.
 
Large Financial Organizations
Large financial organizations receiving a high volume of calls in their contact centers may now employ several possible solutions for the automatic filtering and classification of customer interactions. Companies can also use speech analysis features, such as keyword spotting and emotion detection, in conjunction with customer survey tools, to gather information about the hard and soft skills of their employees. 
 
The integration of workforce management software can contribute to a measurable increase in the efficacy and efficiency of financial contact centers through strategic personnel deployment. This process can actually enhance the entire spectrum of a company’s operations. Targeted training methods may also be implemented based on evaluations from quality monitoring solutions, often with employees directly involved in the various optimization processes and achievement of shared goals.  
 
Risk Management and Quality Monitoring
Risk management has been cited by various business publications as one of the most critical issues of 2009, especially in the financial sector. The ability to document and record all interactions allows the use of recorded conversations as evidence, in training or as a means of protection in case of threat.  
 
Current cases of “Rouge Trading” are forcing investment banks to implement new processes as a safeguard against unauthorized stock trading. Depending on the area of application, businesses require varying types of access, ranging from quick-loading, browser-based programs to powerful and fully-functional players. Interfaces such as API, XML and other web services allow for deep integration into an organization’s existing  IT infrastructure.
 
The Role of Future Contact Centers
Contact centers of the future will serve as the most important human intermediary between financial organizations and their customers. As products and services in this sector are more and more similar, it will become imperative to differentiate from the competition through effective management of customer contact. The contact center will evolve into a type of Swiss Army Knife, equipped with varying tools and features, as well as the latest technological developments in the entire industry.
 
ASC (News - Alert) is a global provider of innovative solutions to record, analyze and evaluate multimedia-based communications. ASC’s solutions reveal vital information, enabling companies and organizations to considerably improve their value creation: contact centers enhance customer service, efficiently deploy staff and increase productivity. Financial institutions fulfill documentation requirements, achieve a higher level of legal security and reduce costs. First responders and public safety organizations enhance reactivity in emergency situations; therefore, ASC provides an important contribution to public safety.
 
For more information, visit www.asctelecom.com, call 201-252-3001, email info@asctelecom.com or write ASC, 1 International Boulevard, Suite #623, Mahwah, NJ 07495.
 

Follow ITEXPO (News - Alert) on Twitter: twitter.com/itexpo

Marc Wildner is Director Business Development of ASC telecom AG.

Edited by Erik Linask


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