A top-ten global bank sought a different approach to support struggling customers amidst the COVID-19 pandemic. Those in the gravest of financial situations needed support at the human level. Recognizing the unprecedented circumstances brought on by the pandemic, the bank needed a better way to manage difficult emotions during customer calls and provide appropriate solutions.
Bridgeforce made it possible for the client to meet an extremely aggressive deadline of six weeks to recruit, hire, train and deploy a new customer care team. Through our empathy-focused training of the team, the bank achieved a significant increase in customer satisfaction, reaching 88% (from 72%) and 80% of those customers who were placed on programs continue to make payments.
The bank partnered with Bridgeforce for a 6-week engagement to establish an empathetic collections team and implement new customer treatments with the following activities:
For many organizations, recruiting during a global pandemic has been an uphill battle. Because the client needed to hire an entire team, Bridgeforce provided careful consideration to the recruiting process. The client ultimately avoided high decline and attrition rates with three key elements:
The result? An attrition rate of less than 5%.
At the end of the engagement, the client had their new customer care team in place. Helping customers to this extent was something the client could be proud of and present to the industry as a refreshed standard in consumer collections. The team was highly engaged and well equipped to handle complex situations. In fact, the training suite we delivered had received a score of 9.8/10 — leaving the client’s team confident in their role.
While the initial training was complete and the team was primed to start taking phone calls, Bridgeforce ensured that the client could continue to deliver at superior levels for years to come. To do so, we provided the client with:
Most importantly, customers noticed the difference immediately. During listening sessions, multiple customers had “tears of delight” with how well they’ve been treated and the solutions put into place to help them.
Customer satisfaction improved from 72% to 88%. Amazing results continued when rolling out the training and program to the entire collections division, after taking 70k calls, and helping thousands of customers get on payment programs. Plus ~80% of customers continued to make payments who were placed on programs.
The client believes the program will pay for itself within a year.
Watch Lynne recount the project in the 10-minute video below.