Case Studies / Quality Monitoring
Root Cause Analysis for Customer Complaint Program Identified Areas to Proactively Manage and Mitigate Risk
Financial Services
Scope
- A Fortune 500 financial institution wanted to conduct an assessment of their customer complaint program, seeking to enhance the categorization and insights process.
- The Northridge Group listened to a statistically valid sample of calls categorized as complaints across multiple business units and determined the opportunities for improved categorization, complaint handling and compliance risks associated with the customer interactions.
Results
- Through a deep analysis of the calls labeled as complaints, The Northridge Group found that only 40-50% of these calls could truly be categorized as such.
- Areas of improvement highlighted:
- Potential to streamline sub-categories based on analysis to make the complaint process easier for agents
- Leverage more experienced agents to handle high-risk complaints and provide deeper root cause analysis
- Identify root causes and target specific action plans to drive an improved customer experience, reduce non-value costs and proactively mitigate risks
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