Driving Fintech Contact Centre Efficiency With Cloud

Summary: After COVID-19 disrupted normal operations in March 2020, BFSI companies offering contact centre services have been rapidly adopting cloud telephony. Besides enabling employees to manage incoming and outgoing calls from any location, it comes with several advantages that allow enterprises to improve customer experience, save costs and leverage the latest developments in digital technology.

Over the past decade, the once homogeneous financial services industry has repackaged its products and solutions for differentiated customer experiences. The four key principles that help build these experiences are personalisation, instant response to queries, the relevance of a solution for a consumer and smooth delivery of the solution.

Digitalisation plays a key role in the fulfilment of such processes, which is why Fintech, with its strong digital abilities, has established a significant footprint in the market.

With user-friendly mobile applications and web interfaces to apply for loans, make investments, enroll for insurance, use digital wallets and avail other financial services, Fintech has passed on the control to customers to manage their finances more efficiently.

Although most of the solutions offered by Fintech companies are available on self-service platforms, they must also have a round-the-clock contact centre to maintain the human touch in their business model. By offering a direct voice communication service, a company helps its prospective and existing customers to understand products better, use online solutions without any glitches and get more reassuring updates on their accounts.

Cloud-based contact centres, also called Contact Centre as a Service (CCaS), match the digital capabilities of Fintech companies to deliver personalised customer experiences and support lean business growth. The coronavirus pandemic also prompted many businesses to adopt this cloud-based solution as running an on-premises contact centre was no longer a practical option in most cases.

Tata Tele Business Services (TTBS) has designed its cloud telephony suite ‘Smartflo’ to help your Fintech company take its telephonic customer services to the next level while also allowing your employees to work from anywhere. It does not involve bulky hardware setup and brings together all the features of a contact centre in quick-to-access and easy-to-use cloud-based software.

Here are the key benefits of Smartflo for streamlined contact centre operations in your organisation:

IVR flexibility Callers dial your customer service phone number for various reasons, and to give them a first-time-right solution, you must ensure they are directed to the right source. By giving keypad based options to customers, Smartflo’s IVR helps you address queries on new instant loans and other financial products, explain ongoing transactions to customers and enable quick complaint redressal.

You may also add self-service options on this customisable IVR for automated responses on objective queries such as account balance inquiry, mini account statements and EMI/premium due dates.

CRM integration – Smartflo also helps you track your daily interactions with customers and understand buyer journeys. With CRM integration ability, it offers actionable insights to improve your operations and grow your business. There is no need for another interface because the agents can review a caller’s account details and previous communication in a unified, familiar system. They can use the available information to maintain a relevant context throughout the entire conversation, leading to a better customer experience.

Call routing and distribution – For optimal distribution of incoming calls to agents based on predetermined conditions, Smartflo features a flexible routing logic. The routing can be tailored as per parameters defined by your Fintech business.

It may be sequential considering factors such as agents’ experience, skillsets and language proficiency. Alternatively, it could be a round-robin style for equitable distribution of calls between agents to ensure no one gets overburdened. Additionally, Smartflo also has ‘sticky agent’ routing for quicker resolutions and higher CSAT levels.

Live call monitoring – No matter where your agents work from, quality analysts can ensure compliance in communication and overview their performance with live call monitoring on Smartflo. The dashboards for incoming and outgoing calls get updated after every few seconds and help check the call answer rate, average call handling time and other details in real-time. Supervisors and seniors can also barge into calls to support new agents for faster resolutions.

Call recordings – For use in training, call quality management processes, maintain compliance and improve overall call resolution, Smartflo comes with call recording ability. You can play recorded calls for concerned agents to give them constructive feedback for performance enhancement.

Analytical reports – When you deploy TTBS Smartflo as your contact centre software, you get more than 70 dashboard reports with actionable data to introduce consistent improvements in your calling operations. It ultimately helps you increase your sales and revenue flow because more customers are likely to choose your products and services when they have a great experience with your brand.

Scalable, secure architecture – Basic cloud solutions often force you to make trade-offs around functionality, flexibility and reliability. That is not the case with Smartflo – it is underpinned by a multitenant microservices architecture that Fintech companies can trust.

The platform is also easy to scale as per your changing call volume and team size. Moreover, you can choose who gets exclusive access to the customisable admin portal. IP restrictions, OTP verification and multifactor authentication are some of the special enterprise-grade security elements with Smartflo to protect the integrity of your contact centre processes.

Seamless innovation and timely upgrades

Hardware-based and on-premises contact centres typically need expensive upgrades and are prone to sudden interruptions. Smartflo makes it easier for your Fintech company to keep up with evolving digital technologies. The TTBS team ensures that new, improved features are always available to your agents with the mere refreshing of the browser. We make your software updates effortless and low-risk events while bypassing forced downtime.

The decision to choose a cloud-based contact centre

As a BFSI player leveraging digitalisation to offer innovative products and services in the market, your Fintech company already understands and fills the gap between what customers today prefer and what traditional institutions deliver. With COVID-19 accelerating the movement towards digital transformation, there’s no going back to the old normal. And therefore, there is also the greater need to have cloudpowered, data-fuelled, agile contact centres that drive hyper-personalised experiences in real-time.

Smartflo makes communicating with customers more engaging while trimming down OpEx, increasing transparency, boosting employee efficiency and reducing stress. Contact TTBS to know more about product features and available plans.