Copy 1 BCU listens to member owners like never before
With millions of uncaptured data points coming into the call center, BCU needed to dive deeper into the everyday conversations occurring with their members.
14% increase in self-service education
80% reduction in QA staff time allocation
3000% increase in number of insights captured
INTRODUCING THE NEW EXPERIENCE:
Since its humble beginnings in 1981, BCU (BCU.org) has grown into a powerhouse among the nation’s top 100 credit unions with $3B in assets and 250,000 members. BCU provides its member owners a vast set of product and service offerings, from banking and credit cards, to loans and personalized financial well-being programs.
Ensure a uniform customer experience throughout the contact center
To achieve these aggressive goals, BCU is committed to developing the highest standard of excellence and scaling it across its team of 65 call center agents. As an organization, BCU measures ROA, NPS and operating expenses as trackable metrics. As a department, Member Relations considers NPS its north star. Like most organizations, post-interaction surveys have historically not provided the level of insight needed to drive BCU enterprise-wide goals.
A major pain point for all credit unions is the fact that members prefer to call for help vs. using self-service solutions to solve a problem. BCU is no exception and has stated organizational goals to increase self-service transactions. With millions of uncaptured data points coming into the call center, BCU needed to dive deeper into the everyday conversations occurring with their members. BCU understood that their members were providing valuable feedback on both their strengths and opportunities with every single customer call. However, BCU was not able to capture and convert that feedback into structured, unbiased data using its current tools. The BCU team felt a deeper dataset could be uncovered through the use of Tethr’s AI-powered communications intelligence platform. If BCU could understand why member owners felt and acted a certain way, they could build strategies to drive toward BCU’s 2020 goals and beyond. As a fellow member of CEB’s customer contact leadership group, BCU was introduced to Tethr and recognized the opportunity to transform its unstructured data into actionable insights.
Within a matter of months, Tethr helped BCU develop a new lens into member service they couldn’t even fathom before.
“Hands-down the biggest gain to-date is the ability to unlock the unstructured data in customer calls; meaning the Member Relations team can say they’ve hit their objective by bringing Tethr on as a business partner.”
Cut call monitoring time of QA staff by 80%, giving the team more time to understand, analyze and surface insights with the data generated. Boosted both member-specific and agent-specific insights by 3,000%. In doing so, BCU now can show measurable improvements in service quality through an automated quality review process. This is already helping cross-functional departments answer the questions of “what” and “how much”, which are key priorities for the business. Built a foundation for the BCU steering committee to identify the top 10 opportunities for making critical business decisions. Some include areas of risk / compliance, fee policies, new member experience and developing lines of products in the pipeline.
Tethr has proven its value to BCU through its efforts in the call center. In 2018, BCU will be expanding its use of Tethr to six additional function areas. They now want to apply Tethr to areas in non-phone call channels, such as chat, video chat and/or secure email channel. Tethr will also help BCU drive cost mitigation efforts through an increase in self-service, decreased handle times, repeat callers and member pain points. Finally, Tethr will help BCU drive a deeper relationship with member owners in the form of proper membership experiences, financial wellness education and retention.