USAN and Global Banking Leader achieve containment rates of 45-89%

In a longstanding partnership spanning multiple decades, a top 10 global bank collaborated with USAN to develop over 40 self-serve applications, achieving containment rates of 45-89% through voice self-service best practices. Seeking continuous improvement, the bank aimed to further enhance self-service metrics while simultaneously boosting excellent customer experience.

The Challenge

Despite impressive containment rates, the bank faced hurdles in completing self-service transactions due to a significant opt-out rate during IVR interactions. Customers found it challenging, tedious, and time-consuming to provide complex information through touch-tone or speech recognition IVR, resulting in transfers to customer service representatives.

The Solution

Recognizing the need for innovation, the bank embraced digital channels, leveraging USAN Visual IVR as a strategic alternative to traditional touch-tone and voice recognition IVR systems. Visual IVR, a mobile engagement solution, transformed IVR menus, prompts, flows, and rules into a user-friendly graphical format. This approach detected cell phone callers, offering them the ability to perform self-service tasks through SMS (text) and mobile web applications. Personalized URLs sent via text allowed customers to enter required information without additional ID or authentication steps.

Being a true multi-modal omnichannel platform, Visual IVR enabled callers to interact with the traditional IVR during a mobile session. USAN collaborated with the bank to create personalized customer journeys, tracking history, and identifying behavioral patterns. Predictive capabilities allowed proactive outreach to customers on their preferred channels with information before they even requested it, contributing to higher containment rates and a smoother customer experience.

The Outcomes

Over the last three years, the bank successfully implemented personalized and proactive omnichannel experiences, resolving complex self-service inquiries via mobile web applications. This strategic shift resulted in a remarkable increase of 5-12% in IVR containment rates across different business units. The cost savings generated by these efforts amounted to millions of dollars, showcasing the tangible benefits of leveraging Visual IVR to enhance the customer experience and drive operational efficiency.

The collaborative success between the global bank and USAN illustrates how Visual IVR can revolutionize self-service challenges, providing a seamless, user-friendly experience while significantly improving containment rates. The bank’s commitment to innovation and personalized customer journeys not only boosted efficiency, but also resulted in substantial cost savings, emphasizing the transformative impact of Visual IVR in the ever-evolving landscape of global banking.

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