Self-service with benefits

4Finance case study

Aija Urbiņa: Group Head of Customer Care

February, 2018

2

4Finance Group• We are Europe’s largest online

and mobile consumer lending group

• 17 countries across the world

• Established in 2008

• Provided more than 15,000,000 Single Payment, Line of Credit and Instalment Loans totalling over EUR 5.0 billion.

• ..And we are growing fast

3

Customer service

• 17 countries = 17 call centres

• 450 agents

• 390K incoming contacts monthly

• More than 625 K active customers monthly

• NPS 60

• 17 countries = 17 call centres

• 550 agents

• 460 K incoming contacts monthly

• More than 610 K active customers monthly

• NPS 60

One year ago

Now

4

Key elements

Know your customer

Understand you customers behavior

List down actions in place

Create wish list

Root causes

Be creative in solutions

Have a dedicated team

Spread the message

Have tangible and intangible benefit estimations

Dedicated & open minded team

Embrace challenges

Learn from failures

Think long term but act now

Courage

5

Rout causes

Survey 5 why’s workshop Impact

• Ask customer

• Have enough sample

size

• Invite all parties (IT, agent,

manager, marketing,

communication, etc.)

• Dig to the rout cause

• How rout cause is solved now

• What activities creates/impacts rout

cause

• What solutions might solve rout cause

• What will be impact of solution

4Fin

ance

exam

ple Question from customer: How to

repay the loan?

Why repeated customer is calling to ask this question?

4Fin

ance

exam

ple 1. He don’t know amount and due

date

2. He haven’t paid attention

2.1. Message was understood as spam2.2. Email subject is general, sms don’t have company name2.3. Message is not focused

3. He can’t access WEB profile3.1. forgot the password3.2. forgot the email3.3. password recovery is through email

4Fin

ance

exam

ple Before:

- Sms & email- Info in WEB profile

After:- Dynamic email template- Personalized email subject- Focused sms message- Simplified log in in WEB (personal ID as user name; password recovery with phone number)- Dynamic profile based on customer lifecycle- Chatbot- Smart FAQ

6

Dedicated & open-minded team

Solutions Team & message Benefit

• IT & NON-IT / be

creative

• Proof of concept

• Divide in phases

• Give the “big picture”

• Have a dedicated team

• Have a single point of

contacts

• Embold the idea and opinion

sharing

• Tangible: saved contacts

saved labor costs

• Intangible: customer

satisfaction, usage, expectations

vs reality

4Fin

ance

exam

ple IVR (Interactive Voice Response)

POC: answering one question; results used for idea strengthening

1st phase: answering simple questions

2nd phase: learning from 1st phase (wording and sequence change), adding more complicated answers; adding sms & email sending option

3rd phase: Card payments and pay by link in IVR, interactive options based on customers previous choices, outgoing IVR, voice identification

4Fin

ance

exam

ple Q: “Will you fire agents?”

A: Vison is not to hire new agents & will develop existing agents into category experts.

Q: “Hey, I experienced chat bot talking to me, that was amazing, Will we have it?”

A: “Tell me more, which company you used? What was the best part in this experience?”

Q: “In our country people hate IVR. They love to get answer from live people”

A: “Thanks for sharing. Let’s check with customers what is acceptable for them, ok?”

4Fin

ance

exam

ple Tangible:

Within 3 years saved 70% of incoming contacts & estimated 2 MLN €

Intangible:

- customer satisfaction growth as strength of human communication value

- Estimated IVR savings 1st phase was 15% of calls. Reality: 32% of calls

- Follow the usage of IVR and repeated calls from IVR to agent

7

Courage

Challenges Failures Long term benefits

• “You are dreaming”

• “It will be too expensive”

• Be prepared to listen, discuss and

proof with numbers & examples

• Failures are most valuable lessons

• Don’t underestimate value of

proof of concept

• Have plan “B”. And plan “C”

• Devil is in the details

• People tend to loose focus if no

tangible benefit within 6 months

• New projects launch can impact

focus & resources of Self-service

project

4Fin

ance

exam

ple Q: “Chat bot & Smart FAQ is the same”

A: “It’s focused on different customer types and needs. Let me show you”

Q: “Customer anyhow will call”

A: “We thought so as well, at the beginning. But look what POC showed”

Q: “It’s risky and unsafe to give information to customer such way”

A: “You are correct. Here is how we agreed with legal department on customer identification”

4Fin

ance

exam

ple IVR report: misunderstood calculations,

not enough level of details, badly explained to users Repeated IVR calls; dropped customers; alternative reports with different calculations

Chat bot: not enough involved agent who answered to chats; language issues and specifics questions that chat bot misunderstand; inappropriate answers to rude messages; not predicted customers intentions, e.g., dating request to chat bot or customers willingness to test and play with chat bot

4Fin

ance

exam

ple Divide project parts in long term

and short term

Run IVR, Chat bot and Pay by link simultaneously

Involve all departments: explain, agree, let know the outcome

Celebrate small winnings

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4Finance Self-service solution puzzle

Smart FAQ

Pay-by-link

Real time customer profile

Chat Bot

Simplified log in

Interactive IVR + card payments

“Call to action” button

Email & sms

update

• 3 days workshops in

three key markets

• 200 root causes

9

Questions?