Case Study

Quality workforce results in improved customer experience for leading loan broker.

A leading provider for short-term consumer loans.

Case study - A leading provider for short-term consumer loans
Industry
Banking and Financial Services
Services
Business Process Transformation

The Challenge

Our client was looking to enhance their talent to support loans verification, retention/marketing, collections, and documents processes. Inadequate training, inexperienced leadership, and workforce management (WFM) challenges with their previous provider led to high agent attrition, a poor customer service experience, and negative performance.

The Sutherland Transformation

While our client was confident that a vendor change was necessary, they were cautious in selecting their next partner as this would be their third vendor provider. The lender was selective in who they wanted to work with based on the new vendor’s ability to hire and train talented and highly skilled agents, train quality leaders, manage workforce effectively, and provide quality reporting, analytics, technology infrastructure, and innovation at a fair price. The client selected Sutherland to be their partner to improve workforce management by hiring quality staff and providing ample training. Our agents supporting this client participate in two weeks of formal training in which they are required to pass three assessments tied to call quality, adherence to policies and procedures, and use of systems. Following the initial training, new hires participate in two weeks of nesting that includes taking calls, additional classroom training, role-playing with other agents, and observation of existing staff.

The client selected Sutherland to be their partner to improve workforce management by hiring quality staff and providing ample training.

The Results

As a result of the implementation of Sutherland’s solution, we consistently met and often exceeded the performance targets assigned to us by the client. In serving the client we have increased billing efficiency, improved the speed of contact by reaching out to applicants quickly, adhere to service level requirements, and increased new and return customer loan conversion rates.

1.5%
Reduced agent attrition to 1.5% per month from 30% per month
98%
Improved agent attendance to 98% month over month
40%
Increase in loan application volumes processed annually
45 days
Performed above the incumbent vendor 45 days post launch
2 months
Accelerated vendor transition from six months to two months