The pace of change occurring in the financial services sector is phenomenal, with a noticeable shift towards becoming digital-first in the quest for delivering simply brilliant customer experiences.
Financial service institutions are in constant competition for customers. With increasingly standardised product sets they are forced to differentiate their offerings through customer experience, putting enormous pressure on customer facing operations such as contact centres and branch networks.
Financial services have a powerful motivator to optimise digital omni-channel performance. They must deal with evolving service expectations of today’s online, mobile and social network enabled customers. Those which have already invested and simplified the experience offered to customers are finding efforts rewarded by increased loyalty, market leading Net Promotor and Customer Effort Scores.
Yorkshire Building Society Group (YBSG) are the UK’s second largest building society, with over 3 million members and assets of £43 billion, who through a customer driven culture have developed a market leading brand for customer excellence and quality.
YBSG are passionate about delivering simply brilliant customer experiences to members, using technology to enhance market differentiation and to underpin their continued leadership. YBSG have made a significant investment in a modern, digital cloud contact centre platform and unified communication service to support their customer facing, back office and branch environments.
Following a detailed market assessment, which saw YBSG evaluate 15 potential providers, Olive were invited to spend time with YBSG, carrying out operational and technical assessments over a 6-week period. This collaborative approach provided Olive with a deep understanding of YBSG’s existing technical environment, their current operational model and requirements for the new service. This insight enabled Olive to design a service that is closely aligned to YBSG’s digital and customer first strategy.
At the heart of the service being delivered to YBSG is Olive’s Cloud Managed Service Platform (CMSP). The platform is a customer engagement ecosystem, providing secure and simple access to best of breed contact centre tools that are delivered as a single cloud service, aligned to tailored YBSG user personas. Olive’s CMSP inter-connects into Mitel’s market leading Cloud platform, integrating leading services from Redbox, Teleopti and Eckoh. All customer applications will be deployed in a separate “private” cloud environment, providing the most secure and resilient cloud service available in the market whilst meeting the YBSGs compressive security requirements.
The service supports YBSG’s digital ambitions and will enable them to deliver consistent customer satisfaction across all customer touch points including; voice, e-mail, chat, on-line and social media.
Designed to improve the customer experience is a speech enabled front door, allowing customers to seamlessly navigate through to the right contact centre colleague first time, avoiding the frustration of redirection and repeated conversation. The service also includes innovative automation capabilities, delivering modern self-service opportunities using innovative speech and AI capabilities.
Once implemented, YBSG will benefit from a cost effective, highly resilient, agile contact centre and telephony service that meets the demands of the business today but can evolve as the needs of their members change. Through Olive’s CMSP, YBSG will consume the customer interaction tools they need to deliver simply brilliant customer experiences, removing duplication, complexity and cost whilst ensuring that they have the agility to scale and flex in-line with operational requirements.
In a time of widespread digital innovation, Olive understand that regulated businesses such as yours are under increasing pressure to improve operational efficiencies, optimise costs and deliver a simply brilliant customer experience. Olive offer 'Art of the Possible' sessions to get an understanding of how your business currently operates, your objectives and where technology can make measurable improvements.
Olive, an award-winning Cloud Managed Service Provider and Mitel Platinum Solutions Provider, has a track record of success in delivering modern digital solutions for financial services – supporting all aspects of the modern digital customer journey. Working with leading organisations such as YBSG, Reassure, 1st Central Group and One Family; Olive has deep industry experience of the key drivers impacting customer experience delivery in the financial services sector.