Transforming Customer Service Operations in Credit Repair 

Client

Our client is among the top players in the US consumer credit restoration services business. This technology-enabled client has several brands that help consumers access and understand their credit reports.

Services provided by our client’s brands:

• Help verify whether the information in the credit reports is fair, accurate, and substantiated
• Correct inaccuracies in the credit reports by working with individual creditors and the national credit bureaus

Challenge

The problem faced by the client:

Inefficient and outdated processes and technology

The challenges the client ran into:

• Customer service function being unable to support the company’s record growth and seasonal fluctuations. This was due to:
  • Inability to ramp up or decrease capacity to support business requirements
  • Lack of omnichannel capability resulting in a high cost to serve
  • Inefficient process impacting customer satisfaction
• Gaps in content and knowledge base that impacted agents’ training
• Inability to tap into new communication channels, such as chat and email
  • Outdated advanced search features affecting search times and a lack of real-time reporting
• Inability to attract and retain talent and meet the needs of modern-day employees and end customers

All this resulted in efficiency losses and sub-optimal performance for the client.

What the client needed:

• Transition from a voice-based to an omnichannel platform, multi-skilled workforce management, and real-time analytics on customer interactions with enhanced quality management
• Modernized service experience to meet customers’ evolving requirements
• A partner with expertise in transforming the customer experience (CX) by leveraging automation and providing omnichannel capabilities

Solution

Hexaware’s objective was to transform the client’s interactions with its customers by enabling an integrated omnichannel experience.

Our approach was to build on their contact center investment and transform it into a revenue-generating center by leveraging best practices gained from industry experience, introducing automation in the form of interactive voice response (IVR), chatbots, and voicebots, and deploying the latest omnichannel technology.

The strategy involved leveraging our Mexico site due to its proximity to the US and ability to provide native Spanish support, and a site in the Philippines to lower the client’s overall service cost.

We implemented a phased transition beginning with 10 paralegals from Mexico, providing voice support to customers and assisting them with their queries regarding credit repair, for one of the client’s brands. Satisfied with the completion of the PoC, the client entered into a five-year agreement for 300 paralegals and advisors spread across Mexico and the Philippines to support all of its bands. The excellent performance of the customer service team also prompted the client’s decision to add 150 agents to support sales and customer retention.

In the first six months, Hexaware completed a CX transformation assessment, which provided a detailed roadmap and accelerated its omnichannel capability by more than a year. We also improved training quality and updated the knowledge management system by transforming learning and development processes.

Hexaware executed three successful POCs over three years, leading the client to entrust us with four of its business lines.

What started with a three-month proof of concept (PoC) to demonstrate customer service in a highly compliant industry was expanded into a five-year agreement to scale operations at four leading centers in the US.

Benefits

• Ability to meet seasonal demand and cater to a 50% increase in call volume during peak months
• Reduction in customer service costs by 45% by leveraging a global workforce
• Reduction in call volumes by 30% through the enablement of digital services
• Consistent sales conversions of over 20%
• Remarkable omnichannel experience that delivered 50%+ retention performance, exceeding the target of 36%
• Greater customer satisfaction with CSAT scores consistently above 90%
• Improvement in search time by 20%
• Access to native Spanish language support

We systematically reviewed processes, technology, digital channels, and planned projects. Our review enabled significant scalability to support future business growth, improve efficiency, enhance CX, and comply with best practices.

What started as a three-month proof of concept exceeded the client’s expectations by achieving compliance targets of 98% in terms of legal verbatim adherence from day 1.

An industry first: Leveraging a partner to provide paralegal and advisory services for a firm in the highly-regulated credit repair industry

Summary

As a CX transformation partner, we helped accelerate the client’s transition to an integrated platform that provided an omnichannel experience and incorporated industry best practices.

Our success in delivering consumer services inspired the client to leverage our capabilities to optimize their sales and acquisition functions, too. To achieve this, two teams across Mexico and the Philippines will support the client by acquiring new customers and being their partner in revenue generation.

By enabling an integrated and omnichannel solution, Hexaware emerged as a trusted partner and won the client’s approval to provide more services.