TD Bank Delivers Speed to Growth Through Service Excellence

In 2014 there is a renewed emphasis on customer at the speed of business. TD bank has successfully combined both to deliver some impressive results. Leveraging better work management and smart dispute processes, TD Bank has hit a rich vein of gold.

Delight Customers http://jimsinur.blogspot.com/2014/03/the-digital-organization-is-obsessed.html
At Warp Speed http://jimsinur.blogspot.com/2014/01/time-to-market-pressure-is-putting-on.html

The Challenge: Grow the Card Business 50%

TD Financial Group’s Visa card business has grown its portfolio of accounts by 50% over the past two years and plans to continue aggressive growth in both domes­tic and international markets.

Management was convinced that service excellence was the key to success in this highly commoditized business, but TD Visa’s service operation was not positioned to grow with the business. Day to day service fulfillment activities were inefficient and complicated by the underlying system infrastructure. Legacy systems were expensive to maintain and functionality needed to sup­port new card products could not be developed on these inflexible solution. 

TD Visa’s client service operation was organized into many specialized support and fulfillment teams, struc­tured around cumbersome systems and manual pro­cesses required to fulfill customer requests. Delivering excellent service at the point-of-interaction via ‘one-call’ resolution was rare as existing processes did not let agents resolve most customer issues at first contact. In the back-office, mundane administrative tasks (such as the re-keying of data into various systems, organ­izing and shuffling paper documents, etc.) delayed reso­lution. The time spent on value-added activities such as case review and selling was limited as skilled analysts were consumed by administrative tasks. 

The Solution: Reuse and Reinvent

TD Visa decided to address their legacy infrastructure issues with a complete system overhaul. BPM was selected as the technology to provide a full servicing solution, “wrapping” around a new core processing plat­form and automating processing activity from the call center through to the back office.

BPM provides a 1080, high definition solution to opti­mize the customer experience and automate operations for call center staff in Toronto, London, Montreal and India. Full account and transaction information is pro­vided on the CSR desktop. Intent-led service processes enables higher levels of customer service and ‘one-touch’ issue resolution. Process automation capabili­ties are able to straight-through-process basic requests.

Issues that cannot be resolved directly at the call center are automatically routed to central workbaskets used by all back-office dispute and fraud staff. Smart routing capabilities assign cases to staff from the centralized workbaskets. Paper-based processing and manual re-keying of data is eliminated as electronic case data is routed to the appropriate personnel automatically

The Results: Continued 50% Rate of Growth

Key benefits of the new system include a 30% increase in one-touch customer service resolution and a 70% reduction in average resolution times for requests requiring back-office intervention. The deploy­ment would deliver both an improvement in service excellence as well as cost savings through streamlined operations. In addition, 50% of the back office dispute staff was redeployed, and a 95% reduction in IT compliance cost was realized.

Net; Net: 

In a age of revenue emphasis, process management (BPM) can speed results to the bank while saving money.


This is a highly summarized case study provided by Pegasystems