How ING Bank Increased
Speech Analytics Case Study
“ING Bank observed a 15% increase in sales quality score
and 3% decrease in overall silence rates”
All Thanks to Sestek Speech Analytics
“As ING Bank, we are committed to providing practical products and services that meet our customers' needs. This requires understanding their needs accurately. To better understand our customers' needs, we are constantly improving our analytical skills. Call center interactions contain critical data about customer satisfaction and agent performance. Sestek Speech Analytics provides us with the data mining methods to reveal these data. By using this software, we get crucial insights about agent performance, customer satisfaction and so on. This helps us to increase customer satisfaction.”Murat TacerHead of Contact Center Complaint Management and Branch Operations Management
ING Bank sought to gain insights into customer experience, agent performance, sales potential and service quality. Each of these factors would then be used to increase call center efficiency, translating to a better experience for both customers and agents. Because of the high volume of calls, ING required an automatized means of evaluating the calls across several metrics. Because Sestek Speech Analytics automatically tracks several metrics of all call data, ING selected the software to aid in their evaluation process.
ING Bank implemented Sestek Speech Analytics in its call center. After implementation, Sestek Speech Analytics automatically translated all recorded calls into text for simple analysis. The software enabled automatized reports on call center evaluations by tracking a variety of metrics. From there, problematic calls were automatically identified and received further analysis. ING used Sestek Speech Analytics to analyze its calls in three big ways: to shorten call length, to increase sales potential per call and to improve agent performance. Once Sestek Speech Analytics provided actionable insights, ING could then design action plans to achieve its goals through call evaluation.
Objective Performance Evaluation
By taking a holistic approach to measuring all calls with Sestek Speech Analytics, ING Bank was able to measure the impact that employee seniority and working time had on productivity. Sestek Speech Analytics didn’t just use call data to measure agent performance; ING integrated data from survey results and sales figures, as well as customer and organization data. ING also integrated CRM data, including education status, initial training class and instructor data.
Throughout this process, ING discovered that agents with seniority over 24-36 months exhibited higher anger ratios, longer talk times and lower wait times. These results showed an aggressive and dominant tone of speech, indicating a poorer customer experience. ING used these insights from Sestek Speech Analytics to make several changes in management to increase net promoter score by 10%.
How it worked:
- ING analyzed employee performance monthly, using metrics that included: seniority, sales efficiency, net promoter score, shift order, and silence ratio.
- Different inquiries were generated on the basis of team leader, call center location and hourly shifts (between 09:00 and 24:00) and these inquiries were analyzed together with the sales and net promoter score data.
- After getting the results, ING formulated a plan of action to increase agent performance and morale. The insights from Sestek Speech Analytics prompted ING to implement a rotation program, resulting in 65 employees transferred out of the call center and to other departments of the bank.
Boosting Efficiency with Lower Silence Ratios
With Sestek Speech Analytics, ING Bank analyzed several specific agent performance metrics including silence ratios, speaking speed and interruption rate. By augmenting quarterly performance objectives with daily data, team leaders were able to identify agents for performance feedback. This resulted in a 3% drop to overall silence rates, which also provided a cost advantage by reducing call durations.
How it worked:
- Silence ratio was evaluated by using agents’ seniority and call center location as a base.
- From there, reports showed an improvement in silence ratios and incorrect operation rates.
- When a call’s silence ratio went above a defined threshold, it was reported with seniority and location matches.
- Team leaders received these reports daily via email, then provided feedback to the identified agents.
An Increase in Customer Satisfaction and Sales
Before implementing Sestek Speech Analytics, ING calls were manually evaluated by two employees. This limited evaluations to only five calls per agent, limiting the data ING could use to increase sales potential per call. With automatic evaluation reports of sales calls, ING could analyze every call with better accuracy. By identifying opportunities for improvement and acting on them with ease, ING found a 15% increase in sales quality scores.
How it worked:
- ING began by analyzing all sales data and sales scenarios with Sestek Speech Analytics.
- The full contents of the text were then integrated into automatic evaluation forms, allowing for simple evaluation reports on the performance and sales quality scores of agents.
- The regularly scheduled analyses resulted in key actions ING could take to improve overall call quality and sales potential.
- The sales evaluation process was automatized, allowing for measurement of all sales calls’ quality.
Sestek Speech Analytics
- Transcribes all recorded calls to text, then applies statistical and emotional analyses.
- Provides actionable insights through data mining.
- Empowers businesses to leverage customer call data to better meet customer needs and optimize call center performance with key information.
- Enables organizations to improve average handle times and first-call resolution rates, all while cutting operational costs.
- ING Bank offers services to 37.4 million retail and wholesale banking customers in over 40 countries.
- As of 7th of July 2008 ING Bank Turkey started to offer financial services to its retail and corporate customers.