Why the Contact Center Still Matters in Retail Banking

Why the Contact Center Still Matters in Retail Banking

Published By: TowerGroup
June 2009
R301-1655
Online Download $1,750.00

Description

TowerGroup believes that retail banking contact centers must manage to four key performance indicators, regardless of location: cost per contact, customer satisfaction, first-contact resolution rate, and agent utilization.

Worldwide spending on contact center technology will increase at a compound annual growth rate of 3.36% until 2012, driven by high growth in the Asia-Pacific and Latin American regions.

Offshoring retail banking contact centers will remain an option for only large international banks, but if US and Western European governments offer incentives to keep and return jobs onshore, investments even in current offshore operations will decline.

Major banks' contact centers face overstaffing due to reduced voluntary turnover in the current economic climate, but TowerGroup believes that this is a short-term problem and banks should try to manage without cutting staff.

Although information security is perhaps more lax in contact centers than in any other delivery channel, banks can reduce exposure to fraud through stronger upfront authentication and agents' vigilance.

Table of Contents

Report Coverage
Background
Current Business Trends
Contact Center Metrics
Summary

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MindBranch, Inc., 131 Ashland St., Suite 200 North Adams, MA 01247 tel: 800-774-4410 fax: +1-413-664-9791 www.mindbranch.com