The Challenge

A leading Fortune 1000 financial services institution relied on a basic IVR (Interactive Voice Response) system to handle customer inquiries. However, as customer expectations evolved, the company faced increasing challenges in providing efficient and seamless service.

Customers needed quick access to essential account information such as balance inquiries, transaction history, and payment processing, but the outdated IVR system lacked the capabilities to support a modern, self-service experience. As a result, customers over-relied on live agents, leading to:

• Increased call volumes, overwhelming call center staff.
• Longer wait times, reducing overall customer satisfaction (CSAT).
• Higher operational costs, limiting investment in other CX initiatives.

To address these issues, the company sought a comprehensive, customer-focused self-service strategy that would not only improve efficiency but also enhance customer engagement and satisfaction.

The Solution

By implementing Aumtech’s Rich Communications and Collaboration platform, the financial institution transformed its customer service operations from a basic IVR system to an advanced, automated self-service solution.

A suite of self-service tools was introduced, allowing customers to:

✔ Check account status in real time.

✔ Retrieve account balances instantly.

✔ Access transaction history without agent assistance.

✔ Make automated payments by phone, ensuring secure and efficient processing.

✔ Receive payment reminders, reducing the risk of missed or late payments.

The platform enabled customers to manage their banking needs independently, significantly reducing their reliance on live agents while ensuring fast and accurate responses to common inquiries.

The Customer Experience

With Aumtech’s self-service capabilities in place, customers experienced a seamless, 24/7 service model that offered convenience, speed, and reliability. The transformation led to:

• Faster resolution times, eliminating the frustration of long call center wait times.
• Improved accessibility, allowing customers to handle financial tasks anytime, anywhere.
• Greater control over their accounts, enabling efficient self-management of payments and account information.

Meanwhile, call center agents shifted focus to more complex, high-value interactions, improving service quality for customers who truly needed human assistance. And when it did come time to escalate to a live agent, Aumtech’s communications platform provided the path to get the customer connected quickly and efficiently with added capabilities of screen share, file share and video.

The Win

By leveraging Aumtech’s advanced automation and self-service tools, the financial institution achieved:

• More than 75% of callers successfully contained within self-service, reducing live agent dependency.
• Over $1 million in annual call center operations cost savings, allowing the company to reinvest in service improvements.
• Enhanced call center infrastructure, leading to greater efficiency and effectiveness.
• Improved customer experience assessments, enabling continuous CX enhancements.
• Stronger customer retention, as clients benefitted from a more seamless and responsive banking experience.

Results and Value

The financial institution saw immediate and long-term value from its investment in Aumtech’s solution:

• 75% of customer inquiries handled via self-service
• $1M+ in annual operational cost savings
• Significant improvements in customer satisfaction and retention

By modernizing its customer engagement strategy, the company successfully reduced operational costs, enhanced customer experiences, and positioned itself as a leader in innovative financial services.