Skip to content
Customer story

Growing Neobank Observes a 75% Lower Turnaround Time After Digitizing Its Call Center Operations

The neobank made a strategic shift towards digitizing and automating its operational systems to improve the overall customer experience

Related services
Digital Strategy, Software Development

Industry
Finance

Team
Xebia

The client is a US-headquartered leading neobank that offers sustainable and green investing to its customers.

Understanding the Challenge

Owing to the nature of its business model, the neobank as an entity in the entire banking value chain interacts with a lot of third-party applications. With its growing operations, their Call Center Team was servicing large number of customer requests each day. The team’s operating model was manual, involving multiple toggles between different applications consuming substantial time to complete transactions, while leaving room for error to creep in the said manual process. In such a scenario, for the neobank to exceed in its business operations there was a need for a system that could digitally accelerate the overall operational cycle, while quickly rendering information from disparate systems.

Why
Improve the overall customer satisfaction by offering consistent and seamless banking experiences
What
Digitally accelerate the overall operational cycle to reduce turnaround time and manual errors
How
Building a central platform by integrating all information sources and automating the information validation process

Xebia’s Strategy and Solution

A due-diligence workshop was conducted by Xebia to review the client’s call center processes. Xebia’s multidisciplinary teams of experts worked with the neobank’s leaders to conduct a time and motion study of all the critical processes and analyzed the existing business challenges in light of their envisioned business goals. It was concluded that the new digital strategy for the bank must resolve the following business challenges, in order to realize their business vision and objectives:

  • Disparate system touchpoints, which resulted in agents switching to other systems to gather information. Beyond causing delays, toggling between systems also increased the probability of errors.
  • Manual decision checks translated into human touchpoints, which in turn resulted in longer processing times and higher error rates.
  • Auditability: As there were human touchpoints, disparate systems, the actions performed by agents when toggling between one and the other were not necessarily streamlined and predictable. Reduced predictability, in turn, created immense effort to ensure compliance with regulatory and statutory requirements.
  • Working with the neobank’s team, Xebia designed a three-pronged solution that addressed each challenge.
  • Consolidating System Touchpoints: A central platform, integrating all the information sources that agents would toggle between, allowing for querying the core system, as well as the automatic population of the required data. Additionally, this platform’s features could be integrated with the bank’s app, enabling self-service to customers. The central platform also offered a multitude of transformative changes to the infrastructure utilized by the end-users and agents. These included multi-factor authentication (MFA) link-generation vs. the earlier process of the customer calling out the one-time password, which was both error-prone and not secure.
  • Automating Decision Checks: The central platform also allowed agents to automatically validate the information they were processing, resulting in faster, accurate, and consistent results. In addition, automation in decision checks also allowed the self-serve interface to prevent errors.
  • Improved Auditability: With all the back-end systems integrated into a single-pane-of-glass view, all the actions of the agents were now auditable as there was a digital record of each action performed. Additionally, this auditability was extended to the other interfaces the central platform enabled, including self-serve.

“As soon as the foundation of the new e-commerce platform was laid out, a data team of internal specialists and data scientists began developing personalized algorithms to help us analyze our customers’ behavior. We gained a better understanding and insight into individual customer needs right away, including ideas for products our customer had not thought of before.”
Marketing Technology Manager

Impact

The Xebia team measured a significant change in the operational efficiency of the neobank, beginning with a 75% drop in Turn Around Time (TAT), and including:

  • Tangible improvements in customer satisfaction
  • Improved and consistent customer experiences
  • Reduced contacts to the support center
  • Significantly reduce error rate during transaction processing
  • MFA links generated were more robust, secure, and a faster means of authenticating customers

Explore related customer stories