First founded in 1903 as a community bank, this retail banking institution has a long history of supporting small businesses and local residents through personal and business banking solutions. Offering everything from checking, savings, loans, mortgages, and trust/wealth management services, this bank prides itself on delivering truly exceptional service to its customers. Over the years, this institution has been consistently recognized as the top performing bank in the United States by asset size.

Fast Facts:

  • 2,800+ Employees
  • 240 Branches Nationwide
  • $26B in Total Assets
  • HQ: Little Rock, Arkansas

Needing to Replace Manual Collections Processes with Automation

Manual outbound dialing for credit card collections is a laborious process. The agent workload for outbound calls includes multiple steps: looking up phone numbers, dialing, waiting for a connection, and even waiting for non-connect calls.

This institution has been using the same manual outbound calling process for years, and while this process has worked in the past, it was inefficient. As technology progressed, it became evident that it was time for the company to improve agent efficiency and increase productivity by adding automation and a campaign management solution to its existing tech stack.

It was also time for the business to move some of its premise-based technology (Cisco UCCX was the preferred contact center platform) into the cloud. This transformation was a critical step for the company to continue its growth trajectory as one of the largest and most highly rated and regarded banks in the country.

Improving the Credit Card Collections Process with Acqueon Engagement Cloud

Being a proud Cisco partner with an integrated solution, Acqueon was the top choice for this retail bank. Acqueon is broadly regarded as the most advanced and capable outbound dialer among enterprise contact center and CX leaders. However, its capabilities extend far beyond its proven preview, predictive, and progressive dialing strengths. The Conversational Engagement Platform, Acqueon Engagement Cloud, features a built-in Compliance Suite, an advanced Campaign Manager, and more.

Acqueon’s strong integration with Cisco and the platform’s Compliance features and advanced campaign management functionality made an impact on the team. This banking customer was looking forward to freeing its teams of the burden of compliance management – because the built-in Compliance Suite meant Acqueon would handle it on the team’s behalf. This would free staff members up and ensure they had more time to focus on generating and implementing new ideas and cultivating relationships that encouraged the local communities to grow and thrive.

Advanced campaign planning, orchestration, and management functionality meant that the company would also be able to provide more self-service options and better customer service to its members – no matter which channel they preferred. Acqueon Engagement, our Campaign Manager (built on top of the intelligent Customer Engagement Data Platform & built-in Compliance Suite​) would give this customer the ability to launch large-scale, omnichannel banking campaigns with ease.

Preparing for the Future of Retail Banking

Acqueon helped this retail bank launch its new credit card collections process along with a new outbound campaign revitalization strategy – thanks to the solution’s integration with the company’s current contact center, Cisco UCCX.

With its comprehensive, feature-rich Conversational Engagement Platform up and running in a matter of months, this retail bank achieved outstanding benefits, including:

  • Advanced campaign functionality and increased flexibility for planning & orchestration
  • Complete compliance with DNC and critical government regulations
  • Reduced dependency on third-party vendors & massive cost savings
  • Hugely improved IVR capabilities for customer self-service

To date, the company has increased its total revenue collected by 12%, in addition to decreasing the average time to receive payment by more than 30%.

Learn how you can improve experiences and retention with our Conversational Engagement Platform and Campaign Management solution, Acqueon Engagement.