Tech Mahindra Uses Verint Quality Bots and Verint Speech Analytics to Elevate Customer Perception and Experience for Bank of Baroda
Leading provider of innovative and customer-centric digital experiences helps India’s largest public sector bank transform from a traditional institution to a customer-centric organization powered by automation and data-driven decision making.
The results
- 92%
Achieved an ambitious quality score of 92%.
- 50+
Improved NPS scores to 50+, driving increased customer endorsement and enhanced brand reputation.
- 5%
Boosted sales conversion rate by 5%.
About Tech Mahindra and Bank of Baroda
Opportunity
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Solution
Benefits
“The combined efforts of Tech Mahindra and Verint helped revolutionize the customer experience at Bank of Baroda,” says Jitendra Agnihotri, Head of Delivery at Tech Mahindra. “The bank wanted to achieve a leadership position as an organization who actively listens to and values its customers. Embracing and harnessing automation and data-driven decision-making, with Verint Quality Bots and Verint Speech Analytics at the core, we were empowered to enhance the bank’s efficiency and the customer experience it delivers.”
One efficiency and customer experience objective was to improve Bank of Baroda’s overall quality score. Using Verint Quality Bots to enable the automatic and meticulous assessment of all Bank of Baroda agent-customer interactions, Tech Mahindra was able to meet this key performance metric required by the bank. Moreover, achieving the bank’s ambitious quality score target of 92 percent had the added benefit of significantly boosting customer satisfaction.
Verint Speech Analytics played a crucial role in enabling Tech Mahindra to identify root causes of customer dissatisfaction with the bank. Acting on the customer dissatisfaction insights gained from Verint Speech Analytics findings, Tech Mahindra and Bank of Baroda were able to improve customer sentiment. Overall, the bank’s NPS scores rose to more than 50, driving increased customer endorsement and enhanced brand reputation.
With the use of Verint Speech Analytics to monitor and assess agents’ sales pitches and upsell calls with customers, sales conversions also increased significantly. This data-driven approach highlighted best practices and areas for improvement, resulting in a five percent boost in sales conversion rates.
In addition, compliance parameters were notably enhanced using Verint Speech Analytics. Overall, compliance tracking increased from 90 to 97 percent, helping mitigate potential complaints and escalations.
Apart from the many tangible results, Tech Mahindra is delivering numerous soft benefits to Bank of Baroda thanks to Verint’s engagement solutions. For example, Verint Quality Bots is helping to identify soft-skill gaps among agents, with targeted coaching and training, tailored based on specific agent needs and best practices, enabling more swift remedial measures to enhance customer service efficiency and customer experience.
Verint’s best-of-breed CX automation, combined with its AI and analytics leadership and expertise, helped Tech Mahindra establish a robust analytics framework. Subsequently, Tech Mahindra was able to seamlessly apply this framework to accommodate Bank of Baroda’s customer base. The result was affirmation of the bank’s commitment to customer satisfaction and operational excellence. The transformation from a casual public sector bank to a customer-centric institution powered by automation and data-driven decision making was complete.
*Note: Verint Quality Bots were formerly known as Verint Automated Quality Management.