COVID-19 impact. Information here

Omnichannel integration creates a premium customer experience

Following a merger, La Bolsa de Valores de Colombia (bvc) implemented a service model and transformed its contact center from an outdated on-premises Avaya solution to the Genesys Cloud™ platform — improving customer contact time and first-call resolution.

Record implementation time

50% reduction in IVR navigation time

80% increase in contact rates

Centralized database consolidation

100% of agents relocated during COVID-19 crisis

50% increase in first-contact resolution

We found out that we could not have chosen a better customer experience tool. It is totally aligned with what we were looking for.

Diego Galindo Hernández

Director of Customer Service

bvc

Two cultures unite

La Bolsa de Valores de Colombia (bvc) manages the trading and registration systems of the Colombian stock markets. It provides technological solutions to the financial sector and produces stock market information, participating in the entire value chain of the investment sector.

In 2017, bvc merged with the Depósito Centralizado de Valores de Colombia, marking one of the most important milestones in the history of the country’s capital market.

“We were two companies with very different cultures,” said Diego Galindo Hernández, Director of Customer Service at bvc. “But we took on the challenge of transforming and developing the Colombian market with a unified, strategic vision focused on the customer.”

The need for change

After the two companies merged, it was critical to portray the new entity as one focused on the customer. Consequently, a new service model and implementation plan were designed.

“When we started the process of placing the customer in the center, we noticed that we were not going to be able to do it with the Avaya solution we had,” said Galindo.

One of the main issues with its Avaya solution was that the management tools weren’t integrated, and it absolutely lacked any type of omnichannel capabilities.

Jumpstarting the transformation  

Clients for bvc include the country’s major banks, stockbrokers and share issuers. The mission of its contact center is to assist a market that might move more than 150 billion Colombian pesos a day. To facilitate the experience for these clients and support internal processes, bvc carried out an evaluation-and-selection process, based on recommendations from IZO Consultant. This included the implementation of the project in a phased controlled manner, the measurement of the impact and the preparation of the organization for the cultural transformation that the new model involved. Company managers chose Genesys and its partner Interaxa to deploy the Genesys Cloud platform.

“The implementation times were fantastic; we completed the deployment of such a large project in only six months,” said Galindo. “Our expectations were met 100%.”

Seeing immediate results

The transformation bvc experienced after implementing Genesys Cloud was radical. The first positive sign was the ease and speed of integration with Salesforce CRM systems and the financial institution’s PQRs and technology management systems.

The positive impact was immediate. Now, customer information in other systems is just a click away. Operators don’t have to go from screen to screen, which greatly improves efficiency.

The bvc telephone menu had 12 options and three levels. Under the new solution, it switched to a dynamic, segmented IVR to provide more value to the customer. This cut the time a customer spends browsing the IVR in half.

And identifying why a customer was calling used to take more than four minutes; now it only takes 30 seconds. Because of this, bvc increased the level of contact rate by 80% — in just four months.

At the same time, building a centralized database for the entire organization made it possible to segment and prioritize customers. “We became aware of a whole world that was lost,” said Galindo.

When we started the process of placing the customer in the center, we noticed that we were not going to be able to do it with the Avaya solution we had.

Diego Galindo Hernández

Director of Customer Service

bvc

Seeing optimal results in challenging times

On the first day of the COVID-19 lockdown in Colombia, 100% of the bvc contact center was relocated. The operators were connected from their homes through the internet via WebRTC connectivity, covering all computer security risks.

In the new scenario, customer preferences changed drastically. For example, the email channel tripled in contact volume. But because of the omnichannel capabilities of the Genesys Cloud platform, bvc developed a new service strategy for this channel in eight days. Doing so allowed agents to solve 50% of requirements in the first contact.

“We could not have done this without Genesys,” said Galindo. “After six months, we found out that we could not have chosen a better customer experience tool. It is totally aligned with what we were looking for.”

At a glance

Industry: Financial

Location: Colombia

Company size: 230 employees with 60 agents

Challenges

  • Eliminate outdated Avaya solution
  • Integrate with CRM and other proprietary systems
  • Accelerate all customer service processes
  • Adopt an omnichannel management model
  • Relocate operations in the face of the pandemic

Partner

Interaxa

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