Critical to winning is ‘how’ the experience is delivered as much as ‘what’ gets delivered. However, the continued explosion in customer touchpoints as well as the chronic inability of firms to manage and orchestrate the customer experience deepens the challenge of delivering a crisp, clean experience through the customer’s channel of choice. A clear example of this challenge is for banks and lenders attempting to deliver a positive and effective customer experience when servicing past due debts. “Financial institutions will implement technologies and processes specific to certain channels, but often fail to integrate the entirety of customer touchpoints,” explains Ray Peloso, CEO, CMC. An inability to coordinate across disparate systems and communication channels undermines the strategy. “ Often, customers are not contacted on their preferred channel, or worse, they are sent messages that are conflicting from one channel to the next,” Peloso says.
CMC has spent the better part of the past 10 years developing a powerful solution to address the complexity of omnichannel communications for global banks and lenders. The goal is to provide a “360-degree view” of a customer relationship. The company’s customer experience management platform, CredAgility, provides clients with an integrated solution for all customer activities, regardless of the channel. “CredAgility enables clients to leverage all customer data while building targeted treatment and communication strategies to ensure customers only receive messages relevant to their unique circumstances and needs,” adds Peloso.
CredAgility gives financial institutions unprecedented flexibility and control over customer activities, including marketing, customer service, collections and recovery, and agency management. The SaaS solution allows CMC clients to design and deliver a consistent dialogue with each consumer, improving customer response and, ultimately, the curing of past due accounts.
CredAgility enables clients to leverage all customer data to ensure that customers only receive messages relevant to their unique circumstances and needs
Clients can configure specific workflows around unique processes like credit line increases or income and expenditure assessments. Importantly, CMC achieves these results while maintaining provable compliance with applicable regulatory guidelines.
Communicating with customers today requires a robust digital platform. CMC’s FlexSite is a sophisticated website that adjusts and renders to customers in the device of their choice—PC, phone, tablet or phablet. “With our responsive web capability, clients can be confident that the ‘look-and-feel’ of their customer experience will be cutting edge and relevant,” states Peloso.
A recent case study of success involves FlexiGroup, an Australian specialty lender with finance solutions for consumers and businesses of all sizes through a trusted network of over 16,000 partners. Flexi chose CredAgility to implement a cradle-to-grave customer experience management platform. CredAgility enabled FlexiGroup to manage new account activation, re-engagement and win-back programs to increase customer satisfaction, customer servicing, collections, and post-charge off recovery. FlexiGroup has achieved a considerable increase in contact rates and customer self-service success while ensuring compliance in its operational environment. Additionally, the client benefited from a boost in sales growth and portfolio acquisitions.
CMC will continue to invest in its core customer experience platforms to ensure the relevance and power of its offerings in our increasingly complicated digital world. With a base of omnichannel technology CMC will also invest into logical product and solution extensions such as Marketing Campaign Management, oriented around the need for clients to integrate strategies and channels and deliver via the channel of choice for the customer.