| Overview
The client, one of the leading
consumer lending companies in the US , UK and Canada ,
wanted to outsource its Collections (Outbound, Inbound
and Back Office), Customer Care, Fraud Authorization and
Customer Dispute resolution processes. The basic criterion was for financially strong and reputed third party vendors with proven expertise and capabilities in the financial domain with the aim to minimize costs and improve operational efficiency.
Business Case
Intelenet used a phase-wise
transition approach and began the project with first party
outbound collections for the client's credit card services.
It then moved on to fraud authorization, credit dispute
verification, inbound customer service & sales, card
activation, internet and, back office voice (BOV) and
data (BOD).
With Intelenet consistently achieving the SLAs, other
services of the client were also outsourced to us.
Intelenet's Solution
Intelenet deployed a wing-to-wing
process plan to transition the processes. High-end technology
such as ICM & PG and systems such as resource management,
performance reporting, schedule adherence, and workflow
management tools were put in place to support and enable
the 800 plus FTEs
Intelenet built a team having extensive experience in
the credit cards domain with strong understanding of FDCPA
regulations and DNC laws.
A dedicated on-the-job training team, supported by additional
voice coaches, trained the FTEs. The entire operation
was digitized to increase efficiency and reduce error.
Quality was constantly monitored using multiple metrics.
For example; voice quality matching to resolution and
culture. A data analytics team and a business analytics
team provided feedback to both the team and the client
with information such as root cause analysis on all SLAs
fortnightly.
Multiple Six Sigma Process Improvement projects were initiated
and the FISH Methodology for Performance Management was
used to optimize operations.
Business Value
|
The Customer Management process, boasts of an abandonment
rate of less than 0.49%, and generates an annualized
revenue exceeding $27 million |
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|
The Back Office Voice Management process, currently
ranked the # 1 inbound process from a COPC perspective,
has met the Abandon rate SLA for the last 22 months,
along with quality scores of above 97% against the
SLA of 90% |
|
|
The Back Office Data Management process grew from
8 to 30 processes, including the sub-processes |
|
|
Consistently exceeding SLAs, the Fraud Authorization
team provides a composite inbound, outbound and back
end processing service, saving the client $72K every
month |
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|
Intelenet became the first offshore entity to get
collection licenses in 48 states |
|
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The backlog of 25,000 disputes during transition
were completed in a record time of 30 days |
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The project today is COPC Base 3.3 certified and
has 1000 FTEs handling end-to-end credit cards services
for the client |
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