Maximizing Efficiency While Ensuring Compliance in Contact Centers

By Michael Wilson, Cue
July 25, 2023

In the fast-paced world of contact center sales and service, every second counts. To optimize operations and ensure seamless member experiences, new hires, particularly in regulated industries, must adhere to scripts and maintain compliance throughout their interactions. I’ve always enjoyed the challenge of helping MSRs ramp as fast as possible for not only the good of the credit union but also for the MSR. What better way to gain confidence and momentum than to serve a member as quickly as possible? 

I’ve always believed that while getting your “sea legs,” that sticking to a script is crucial for a few reasons. It’s a guideline to quick service, member satisfaction, and helps maintain compliance. 

In a regulated industry, banking for example, adherence to regulations is paramount. No one wants the NCUA knocking on their door. Scripts provide a standardized framework for MSRs, ensuring that all necessary information is conveyed to members accurately and consistently. By following a script, new MSRs can avoid potential pitfalls, such as inaccurate information or violating privacy regulations. Compliance not only protects the reputation and credibility of the contact center but also safeguards members from receiving incorrect or misleading information.

Regulatory bodies actively monitor financial institutions to prevent deceptive practices and protect consumer rights. Fines resulting from non-compliance can significantly impact a credit union's profitability, reputation and overall business operations.

At the same time, we can’t forget about wanting quick results. In any contact center environment, productivity is key. New hires must be able to ramp up quickly and contribute to the team's success. By adhering to scripts, MSRs can reduce training time and seamlessly integrate into the member service process. Scripts serve as a foundation, enabling MSRs to confidently engage with members, answer common queries and navigate through complex scenarios.

Fast production not only benefits the MSR but also improves overall call center efficiency. By reducing the time required to handle inquiries, call centers can handle higher call volumes, increase revenue and enhance member satisfaction. Speedy production allows call centers to serve more members effectively, leading to improved business outcomes.

Something that used to bother me in training was how long it took to train and feel comfortable navigating the systems that were required during the call process. CRMs, loan platforms, online banking, application forms, etc. An MSR can have all the right things handy to say but if they can’t navigate their systems efficiently, prospects and members can easily become restless and frustrated, resulting in a poor member experience. The ability to help the member during initial interactions not only saves time for both parties but also demonstrates a high level of professionalism, efficiency and member-centricity. An application that navigates all these systems the correct way can cut important seconds, even minutes, off of a call. 

Assisting members efficiently on the first call can strengthen member trust and loyalty. Members appreciate a streamlined and hassle-free experience, and achieving this on the first call can positively impact their perception of the call center and the credit union that it represents.

Another common frustration in contact centers that greatly impacts call efficiency is the need to repeatedly enter the same information in disparate systems. By utilizing software solutions that automate data entry, call centers can significantly enhance efficiency and MSR productivity. New hires can focus on building rapport with members and understanding their needs, rather than wasting time on repetitive administrative tasks.

Streamlining these processes not only accelerates response times but also minimizes the potential for errors caused by manual data entry. By leveraging technology to input member information automatically, call centers can provide faster, more accurate information, resulting in improved member service and higher satisfaction rates.

In the fast-paced world of contact center sales and service, sticking to scripts and ensuring compliance is crucial for new hires. Ultimately, by relying on software that can not only help with what to say but also with what to do, the MSR experience becomes less complex allowing contact centers to achieve maximum results while maintaining compliance and member satisfaction.