Financial Services Analytics
Multi Channel Customer Management
Generating Smart Financial Insight Impact
Genpact’s Multi-Channel Customer Management (MCCM) is a holistic framework that encompasses the various channels that customers deal with throughout their lifecycle. Currently, there is an increasing overlap between the channel assets of the Chief Operating Officer and the Chief Marketing Officer. In the acquisition, growth, and retention of customers, there are multiple methods of interacting with customers. From understanding the customer’s needs to providing the most appropriate products and services, and maintaining, growing, and retaining the relationship, the customer interacts with a bank through multiple channels, including the web, social media, mobiles, branches, ATMs, IVRs, chats, and agents.
The Genpact framework provides analytics and technology support for all channels, including mass media, direct mailing, telemarketing, digital, and social offerings, on an underlying foundation of technology - to embed analytics and enable technology in the enhanced process capabilities for enriched customer experience.
Partnering with clients in implementing the projects from simple text standardization to preparing businesses for Platform Migration differentiates our unique position for bringing solutions to life. Genpact’s strong process heritage further instills a measurement and reporting rigor to monitor performance on an ongoing basis for sustainable results. Our multi-channel customer management solutions can be summarized under:
- Marketing Analytics: Genpact offers end-to-end marketing solutions, such as lead optimization, campaign management, pricing analytics, customer lifecycle management, and customer service analytics, to enable our clients take smarter decisions and realize better outcomes. Our marketing analytics solutions drive profitability by improving customer acquisition, customer loyalty, customer insights, and performance management
- Contact Center Optimization: Leveraging its GE heritage, Lean and Six Sigma DNA, and its experience in implementing analytics solutions in multiple contact centers, Genpact has achieved significant expertise in optimizing contact center operations. Our contact center analytic solutions enable a 5% to 8% reduction in operations cost year-on-year incrementally while simultaneously improving customer satisfaction.
With more than 180 dedicated professionals supporting multi-channel customer management, Genpact has successfully impacted a host of global clients. Some of the key business impacts delivered to various clients are:
Banking and Financial Services
Genpact built a rule-based engine for contact optimization based on customer fatigue leading to a US$85 improvement in sales/solicitation, with an annual cost savings of US$500 thousand; Genpact built and implemented a propensity model, resulting in an annual net income increase of US$477 thousand; Genpact designed offers for customer segments identified based on an RFM technique, resulting in a 15% net increase in assets
Contact Center Optimization
Banking and Financial Services
A 2% reduction in calls through e-service breakage elimination; A 5% to 10% annual cost reduction; Improved IVR rate from 55% to the best-in-class of 68%; Improved FCR to best-in-class of 90%
A US$2.5 million cost savings per annum by reducing 8% of calls; IVR resolution up from 8% to 14%; Improved FCR from 55% to 65% in 3 months