U.S. Bancorp Digital Transformation Initiatives

About the Customer

US Bancorp is a bank holding company based in Minneapolis, Minnesota. It is the parent company of US Bank National Association, known as US Bank, which is ranked 7th on the list of largest banks in the United States. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. It has 3,106 branches and 4,842 ATMs, primarily in the Midwestern United States. The company also owns Elavon, a processor of credit card transactions.

Scope and Challenges

U.S. Bancorp Fund Services has been repeatedly rated by National Quality Review (NQR), a business analysis and consulting leader, as Best in Class and a Five Star Performer for its contact center services. Yet, when it came to individual agents, there was no effective way to accurately measure their performance (which directly impacts the ability to meet service levels) or to share efficiency information with managers and staff, nor was there any reporting that identified performance outliers – for good or for bad.

In part, that capability gap was due to the siloed nature of the available performance data. One system provided, for example, average handle time (AHT) data, while another tracked logon information, a third provided a spreadsheet for determining processing accuracy, and a fourth laid out data on time spent in non-productive activities, and so on.

The scattered and isolated information made it almost impossible to identify trends or to see the complete performance picture. For agents, the resulting lack of visibility meant they did not have a clear or complete picture of how they were doing, and how they compared against their peers. The challenge was to balance efficiency and quality with awareness of true agent performance

Outcome and Implications

U.S. Bancorp Fund Services focused on finding a solution that would centralize and analyze information necessary for improving agent performance, process efficiency, and managerial coaching.

Together, NICE and U.S. Bancorp Fund Services configured Performance Management to identify critical information, communicate it more effectively, and ensure it got to the specific end user who could use it best to affect change. This included, for example, figuring out how to create more than 20 custom data slots, based on different end-user permissions, and ensuring that all coaching could be effectively tracked.

In a uniquely creative application of Performance Management, U.S. Bancorp Fund Services used the system to separate agent data by a client as well and to identify client-specific trends.

As of December 2017, the results of the Performance Management-driven improvements are:

• - Over 450% increase in positive customer experience indicators (from 8% to 47%)
• - An average gain of 67 hours productive time per month • Approximately $20,000 annual savings for AHT • 30% less after call work time
• - 92.9% SLA adherence (compared to 85.9% in 2016)
• - 7.6 seconds average speed of answer (compared to 28.3 seconds in 2016)
• - 651 annual hours of agent-directed development • 1,498 hours of coaching (nearly 1,700 sessions)

Quotes

“Our partnership with NICE has been instrumental in our ability to tailor the solution to meet our needs, and tailoring the solution to meet our needs has driven success in too many areas to name,” said Christopher Surges, Senior Vice President, U.S. Bancorp Fund Services.