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Speech Application Case Study - ABN AMRO
Business Challenge
ABN AMRO, a major mortgage lending and servicing company, faces the challenges of sharp price competition along with high volatile interest rates. As long term interest rates fell to record lows in late 2001, refinancing existing mortgages became a priority with many customers. ABN AMRO recognized that it needed to improve service and cost-effectiveness in order to retain customers and generate new loans.
TuVox Solution
ABN AMRO recognized that an advanced speech application available from TuVox could handle large call volumes without increasing staff, while offering fast and effective responses to customer inquiries. TuVox deployed a Loan Capture solution that provided voice self-service refinance qualification. Through the Loan Capture application, customers call a toll free number and are immediately recognized through their telephone number, loan number and/or Social Security number. Customers then receive an instant refinance savings calculation from the speech application in as little as 30 seconds.. TuVox's hosted and managed services model allowed ABN AMRO to use voice self-service on a pay-per-call basis.
Key Benefits For ABN AMRO
With TuVox Enterprise Software for Speech:
- Agent productivity more than doubled, enabling agents to convert twice as many calls as before
- Gained the ability to handle call volumes that in some weeks tripled or quadrupled
- Generated an additional $1 million in net revenue wthin the first three months of introducing the voice self-service system
- Increased customer satisfaction significantly, according to surveys before and after the speech solution deployment
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