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Fintech company redefines customer service efficiency

Customer
Financial Technology Company
Industry
Fintech
Company Size
400+
Location
Asia
Featured Product
274K+
cases resolved by chatbot in eight months
5.35
FTE-equivalent cost savings
4.51
CSAT score out of 5

The Challenge

When an Asia-based financial technology company began operations more than 25 years ago, it didn’t just enable quick transactions at highway tollbooths.

It sparked a technological revolution that changed the way the region operates. What began as commuter convenience quickly grew into a fintech solution that has become an indispensable part of life for millions of users. NFC-enabled contactless payment cards, a digital wallet and other premium service offerings showcase how the company keeps customers at the heart of its innovations. The fintech has not only remained at the forefront of advancements in financial technology but has also embraced AI-powered omnichannel contact centers, ensuring cutting-edge customer service. In 2021, the leadership team hired a new chief customer experience officer (CCO), whose goal is to transform the company’s CX landscape and increase customer satisfaction.  
 
“Our company is known for providing a seamless customer experience. It’s always been at the core of who we are,” says the CCO. “And that’s because we know that a business thrives when it places its customers at the core of its operations.”  
 
The CCO looked for a digital solution that would help with four main objectives:  

  • Deploy customer-centric omnichannel journeys leveraging an omnichannel customer support solution, including voice, email, social, live chat and chatbot 
  • Personalize the customer journey at all points in the funnel 
  • Improve agent productivity and drive self-service among customers, to ultimately increase revenue and cut costs 


The Solution

The fintech implemented Sprinklr’s unified customer experience management (Unified-CXM) platform to transform customer experience with a sharp focus on customer centricity.

The company replaced multiple point solutions, which not only helped to cut costs, but streamlined operations onto one platform to provide a single source of truth.  

Revamping internal infrastructure and operations

To enhance the customer experience, the company first implemented a few changes in the way it operates. The customer experience and operations teams merged to create one customer journey team that manages the experiences from end-to-end. Now, contact centers, office branches, and operations are housed under User Experience.  
 
“We made a big shift away from being policy- and process-driven and instead implemented a strategic approach to decision-making,” explains the CCO whose teams now view everything they do through a CX lens.   
 
Next, the fintech changed its customer service hours from the standard 9-to-5 to a 12-hour shift that starts at 8:00 a.m. and ends at 8:00 p.m. This extended duration enables customers to connect with customer service agents more easily and at times that are convenient for them. The company also added regularly moderated channels, like social media and chat services, for customers to connect easily with service agents. Finally, it gave customers access to information 24/7 through its online chat functions and help center resources.  
 
To complement these operational changes, the company also updated its fee structure. Previously, customers who required service offline were charged a fee. Today, the offline service fee has been abolished, and customer service is free regardless of the channel on which the customer has connected with an agent.   

Empowering agents with AI-powered Sprinklr Service

After implementing some internal changes, the company was ready to roll out Sprinklr Service — providing customer service by voice, email, social, live chat and chatbot. With live chat, agents now deliver prompt customer service and can resolve complaints in their first interactions with customers, both on the website and in mobile applications. With this enabled, the company can rely on Sprinklr’s governance, compliance, security and reporting all on one unified platform.    
 
Sprinklr’s workflow ticketing system and complete access to customer context has helped improve contact center operations as well, empowering the agents to better serve customers across all channels. AI Agent Assist features, like Smart Responses and knowledge article recommendations, appear automatically on agent screens for easy access. This enables agents to respond to customers more quickly without toggling between screens and apps. This reduces customer wait time and case resolution time – enabling agents to help more customers more quickly without increasing costs. 

The Outcome

Under the new CCO’s leadership, the company has executed a digital transformation across all customer touchpoints, creating a unified experience that prioritizes customers' needs while increasing operational efficiency.  

Empowering the fintech to better serve its customers across traditional and digital channels, has helped increase the company’s live chat customer satisfaction (CSAT) score to 4.51 out of 5.  In addition to the increase in its CSAT score, from January to August 2022, the company achieved the following with Sprinklr Service:   

  • 105K+ cases were handled by agents on live chat and social, showing that customers increasingly prefer reaching out via digital channels.  
  • 274K+ cases were resolved by chatbot and without human intervention, freeing up agents to focus on the more complex cases that require a human touch.  
  • An increase in customer query volume was ably handled without making additional hires, saving costs equivalent to 5.35 full time employees.