OPPORTUNITY
Lloyds TSB Asset Finance Division is part of the Wholesale and International Banking division
of Lloyds TSB Bank plc and specialises in the provision of point-of-sale finance, consumer
lending, commercial lending and asset management services. Its operations include motor
and leisure finance, point-of-sale retail finance, personal loans and contract hiring with LTSB
Autolease, as well as car sales through LSTB CarSelect and the Dutton Forshaw Group.
The division runs major consumer contact centres in Cardiff, Cockfosters and Edinburgh,
supporting sales, service and collections operations for some 3,000,000 customers. Telephony
is the main contact channel with customers, and some 1,500 contact centre agents typically
handle 4.5 million calls a year.
According to Mark Crocker, Head of CRM Operations at Lloyds TSB Asset Finance Division,
“Our core objectives are to constantly enhance customer satisfaction by providing excellent
service quality and first-time call resolution. From a CRM and contact centre perspective, this
means constantly evolving our customer service and sales experience by delivering quality
products and care through customer interactions, and optimising our entire IT and telephony
infrastructure in parallel with the cultural requirements of the team managers, team leaders
and agents.
“We run a customer satisfaction programme
as part of Lloyds TSB’s overall group
customer satisfaction feedback process,
and it is essential that our call centres
balance call quality alongside all the other
metrics required,” he explains. “This is a
high priority fo Lloyds TSB Group as well
as the Asset Finance Division, whose aim it is
to supply quality, excellent customer service
and facilitate customer queries right the
first time. The customer satisfaction scores
that ensue are a proven indicator of how
the customer rates the ser
vice r
eceived and
in particular, the last contact made with a
group employee or service.”
Crocker adds, “We handle some 4.5 million calls a year through our major contact centres in
Cardiff, Cockfosters and Edinburgh — that’s a significant volume of calls. As excellent customer
service and first time call resolution are our key objectives, we knew we needed a tool that
could objectively measure what our agents say and how our customers respond to our service.
At that time, we didn’t really have an objective means of understanding what our call drivers
wer
e, wher
e our processes were failing to meet our customer requirements, and what problems
our systems and processes were causing for our front-line service staff.”
Lloyds TSB Asset Finance Division
I
mpact 360 Success Story:
* At the time of implementation, the solutions were called Impact 360 Compliance Recording and
Performance Optimisation Workshop and were offered by Witness
®
Systems. Since then, the solutions
have been renamed Impact 360 Recording and Quality Evaluation Optimisation, and Witness Systems
has become part of Verint
®
and renamed Verint Witness Actionable Solutions
™
.
CUSTOMER:
LLOYDS TSB ASSET FINANCE DIVISION
INDUSTRY:
Financial Services
SOLUTIONS AND SERVICES:
• Impact 360
™
Quality Monitoring*
• Impact 360 Full-time Recording
• Quality Evaluation Optimisation
REGION:
EMEA
LOCATION:
Cockfosters, Cardiff and Edinburgh,
United Kingdom
NUMBER OF AGENTS:
1,500
RESULTS:
• Gained greater understanding of customer
call types – and the ability to track trends
• Benefited from customer insight,
competitive information, feedback on
product positioning and pricing, and
thoughts on how regulation impacts
service levels
• Improved customer satisfaction scores –
highest in whole Lloyds TSB group
•
Incr
eased quality – 97 per
cent reduction
in error rates, 31 percent improvement in
exception queries
• Increased efficiency – 50 percent reduction
in back-office work, 60 percent decrease in
inter
nal email traffic
• Began tracking regulatory compliance
• Introduced sales through service – from
inbound service calls, for example
• Achieved higher and more consistent
call standar
ds – thr
ough calibration and
innovative developments such as Call
Handling NVQ for Lloyds TSB AFD agents
• Created an environment that motivated
agents, team leaders and management
At the start of the project, call
monitoring was handled manually,
with team leaders actually listening
i
n on calls. Not only did this prove
a
lengthy process for call analysis,
quality and scoring, it also was
completely obvious for agents,
with assessments seen as purely
s
ubjective views from their team
leaders. Crocker recalls that it
was an approach that was open
to uncertainty. “We didn’t have
objective agent management, we
w
eren’t able to gather valuable
customer information, and we weren’t
in a position to identify key tr
ends in our business and react to them.”
SOLUTION
After looking at a br
oad range of offerings, Lloyds TSB Asset Finance
Division selected Verint Witness Actionable Solutions’ workforce
optimisation software — and specifically its Impact 360 Recording
solution — for call recording across its entire customer service
and sales operations. The solution captures all of customer and
agent conversations in traditional TDM, IP and mixed telephony
environments. It features high-volume storage and quick and easy
access to recorded customer contacts. The division was particularly
impressed by Impact 360’s ability to evaluate and manage a broad
range of factors — including quality of calls, agent mannerisms,
call content, average handling times, tagged calls to meet CRM
objectives, complaint resolutions, ongoing training and customer
satisfaction, as well as increased business through sales.
According to Crocker, his organisation identified key benefits,
specifically, Impact 360's ability to “give us detailed call driver and
root cause analysis, str
eamlined call r
outing through more skills
assessment and raised customer satisfaction scor
es. We also felt
that the solution would help us better understand our breakdown
of call types — both in terms of call content and mannerisms —
and play a key role in helping improve our recruitment and training,
as well as support staff development.”
These criteria were all important to the Lloyds TSB Asset Finance
Division business, and key to meeting the division’
s service quality
per
for
mance objective. It implemented the solution acr
oss four of
its UK contact centres.
It quickly became clear that a call recording system could give
Lloyds TSB Asset Finance Division some of the help it r
equired.
States Cr
ocker
, “W
e took time at the beginning of the pr
oject to
establish just why we wanted to capture customer interactions —
and how we could put this captured business intelligence to work
for us. We also made sure to involve employees from a range of
levels within our organisation in the pr
ocess, including team
managers, team leaders and agents.”
During the initial planning and implementation process, Verint
Witness Actionable Solutions’ customer experience team managed
a number of Quality Evaluation Optimisation engagements to help the
Lloyds TSB Asset Finance Division understand the overall objectives
of their contact centre infrastructure — as well as their expectations
for the call recording project.
O
ne of the key drivers for the Quality Evaluation Optimisation sessions
w
as to help the team close the gap between perception and reality.
“The workshops identified numerous elements of functionality that
helped evolve our contact centre operations,” he says. “Not just by
tracking agent performance in a tangible way, but also by offering
e
ssential customer insights — such as competitor information,
feedback on product positioning and pricing, and thoughts on how
regulation is impacting the company’s ability to provide the right
level of service. It sounds obvious that 4.5 million calls a year will
yield a wealth of valuable customer and market data,” Crocker says,
b
ut until they installed the call recording solution, “It was a resource
that we simply weren’t using.”
By involving a wide range of contact centre staff, Lloyds TSB Asset
Finance Division gained valuable insight into the detailed operation of
its customer service business. The focus was on moving to objective
per
formance management, which involved important discussions on
trend analysis, determining appropriate average handling times for
different tasks, implied customer feedback and agent empowerment.
According to Crocker, the outputs from the consulting engagements
were too numerous to list. “They gave us an essential head start in
using the solution, and making the most of what it had to offer. It’s a
process that I would fully recommend to any organisation.”
Since the implementation, both the system and the outputs from the
workshops have helped Lloyds TSB Asset Finance Division gain some
key benefits — from objective performance management, support for
agent incentives and improving the quality of customer contacts; to
the efficient recall of appropriate calls for review and the ability for
agents to manually tag types of calls; right through to understanding
how the division’s business model, agent competence, systems and
processes impact the customer experience.
Accor
ding to Crocker, “The ability to understand call drivers has led to
a number of changes in processes. At a senior level, we thought we
knew what our customers were calling about, but through deploying a
call recording solution, we’ve found that the reality is often different.
For example, we quickly discovered that a third of the calls we received
concerned refunds. It was something that we really weren’t aware of —
one that was a process-related issue that we could then work to fix.”
W
ith V
erint W
itness Actionable Solutions’ technology
, Crocker says,
"We've gained essential information that we can use to help formulate
business cases and even change some of the inter
nal pr
ocesses
that were impacting our customer satisfaction performance. By
constantly monitoring the r
easons for customer calls, we’ve been able
to dynamically influence how we actually interact with our customers,
and it’s helped us become more proactive in how we provide service.
Understanding the breakdown of call types also allows us to recruit,
resource and train appropriately so that we have the right skills in place
to handle our evolving customer r
equir
ements.”
He adds, “Per
haps one of the key benefits we’ve achieved is being
able to use the solution to help drive consistency of behaviour among
our agents. We’ve found that by delivering quality and objective
feedback on their call handling per
for
mance, we r
eally can impr
ove
the level of the service we provide to our customers.”
BENEFITS
S
ervice quality is a key measurement for Lloyds TSB Asset Finance
Division, and using Verint Witness Actionable Solutions’ software,
the division has succeeded in raising its customer satisfaction scores,
which are externally audited and are now the highest across the
w
hole Lloyds TSB Group.
Says Crocker, “In addition to
improving our customer satisfaction,
we’ve also been able to increase
quality — with a 97 percent
reduction in error rates and a
31 percent improvement in
exception queries. We’ve also
seen valuable increases in efficiency
with a 50 percent reduction in
back-office work and a 60 percent
decrease in internal email traffic.”
“
A more detailed understanding of customer call types means that
we’re now able to track trends rather than one-off issues, and
we’re able to ensure regulatory compliance with FSA, Sarbanes-Oxley
and Basel II,” he adds. “Thanks to more focused training, we’ve also
b
een able to evolve improving call quality into tangible bottom-line
b
enefits. For example, we’ve increased our sales through service,
turning inbound service calls into business opportunities.”
“In many ways, however, these are the easy things to measure,”
says Mark Crocker. “We’ve been able to evaluate how improved
call quality and agent performance have impacted team leader and
agent behaviour and motivation. We’ve seen how our business
model, agent competence, systems and processes all combine to
create an overall customer service experience. We’ve also carefully
identified just how dynamic our customer requirements are, and
that’s meant being able to provide the right skills and technology
to help us proactively enhance our offering.”
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© 2008 Verint Systems Inc. All Rights Reser
ved Worldwide.
About V
erint W
itness Actionable Solutions
V
erint
®
W
itness Actionable Solution
s
™
was for
med as a r
esult of V
erint’
s successful combination with
workforce optimisation provider Witness Systems. Our software and services enable organisations
to captur
e and analyse customer interactions, impr
ove workforce performance, and optimise service
pr
ocesses in contact centr
e, branch, and back-of
fice operations.
Verint. Powering Actionable Intelligence.
®
Verint Systems Inc. is a leading pr
ovider of actionable intelligenc
e
™
solutions for an optimised enterprise and
a safer world. More than 10,000 organisations in over 150 countries rely on Verint solutions to perform more
effectively, build competitive advantage, and enhance the security of people, facilities, and infrastructure.
1-800-4VERINT
www
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330 South Service Road
Melville, NY 11747 USA
January 2008
WAIM0807024B
“We’ve been able to move from an environment where our call monitoring was handled manually
to a situation where we’ve improved customer satisfaction and increased sales, and where we
have a more detailed understanding of why our customers are actually calling us. ”
– MARK CROCKER, HEAD OF CRM OPERATIONS, LLOYDS TSB ASSET FINANCE DIVISION
Lloyds TSB Asset Finance Division
Impact 360 Success Story:
