Premier America Elevates Customer Service By 24% With Kure
Will Robinson
Sr. Process Improvement Analyst, Premier America Credit Union
PROJECT SUMMARY
Business Case
Optimize our member service experience and increase our NPS score
Root Cause Analysis
TMs being expected to call to meet the 24hr SLA for hard-declined applications
The contact center’s belief that 14 days of follow-ups would be the most effective
Deficiency in the tools we have (can’t properly evaluate the legitimacy of IDs, address verification, phone number verification (area code doesn’t match where the applicant applied via IP address)
Tools lacking features (require the capability to confirm if an individual lives at the claimed address)
Solutions Implemented
Send adverse action emails for hard declined applications
Decrease the number of follow-up days from 14 to 10
Require applicants to come into the branch when their submitted documentation is questionable
Decrease the 14-day application follow-up rule to 10 days
Automate emails to the applicant if a response to a follow-up attempt is not received after 10 days
Create a detailed script for callback attempts
Collaborate with Gro to escalate the limitations being experienced when it comes to fraudulent applications
Ask FIU which tools they would recommend that we incorporate into our budget for next year
Project Results
SLA % Completion Rate increased 75%to 99.12%—a 24% improvement!
The Challenge
In the ever-evolving realm of banking, where delivering exceptional customer service is essential, Credit Unions such as Premier America differentiate themselves by acknowledging their customers not merely as consumers, but as valued members and active partners in their financial success. The heartbeat of Premier America's commitment is clear in its purpose statement: "Making it easier to meet today's needs and reach tomorrow's dream."
A pivotal process fueling member satisfaction and the revered Net Promoter Score (NPS) is Premier America's member support for online account openings. However, a significant challenge loomed: their 24-hour call-back Service Level Agreement (SLA) was met only 75% of the time, falling short of their ambitious 100% target.
The Approach
Will Robinson and the improvement team embarked on a mission to boost effectiveness and member satisfaction. Armed with the power of Kure, which infuses knowledge, guidance, and insights into process improvement projects. Kure facilitates the infusion of wisdom into every facet of an improvement project, enhancing effectiveness, efficiency, and overall outcomes.
Back Row: Will Robinson, Gabriel Garcia. Front Row: Gerardo Palos, Alba Martinez, Shelia Jones.
Define
Like a wise mentor, Kure helped the team meticulously define the project, setting a measurable goal and organizing the effort using Kure’s best practice methods. The improvement journey began by crafting a Charter, defining the Scope, and establishing a Timeline. The goal was to improve the Callback Completion Rate from 75% to 100%.
Measure
Process Mapping and Data Collection are essential to understanding the existing situation. With the precision of an architect, the team utilized Kure’s As-Is Process Map, gaining a deep understanding of the current process and insights into opportunities for improvement. To better understand these opportunities, Kure facilitates data collection tied to project goals and key factors in the current process and then conducts its patent pending AI Clue Detection analysis. Some of the crucial insights revealed that numerous processing bottlenecks prompted multiple follow-up calls for additional information. It became evident that inconsistencies within the process resulted in call completion rates languishing below 75%. These early insights paved the way for potential improvements.
Analyze
Many improvement projects fall into a pitfall when attempting to uncover root causes, often wasting precious time and resources in the pursuit. Guided by Kure, Will led the Contact Center team in unraveling the complexities of the process. Kure seamlessly injects information and guidance, making it a breeze to delve deeper into the true causes of a problem. Utilizing Kure’s Fishbone and 5 Whys tools, the team pinpointed these root causes:
Countless follow-up calls to fund accounts
Team Members compelled to call for 24-hour SLA on hard declined applications
Call Center advocating a 14-day follow-up for optimal effectiveness
Tools lacking the capability to evaluate ID information and verify claimed addresses
Improve
Effective improvements need to be linked to the root causes; Kure’s intelligent pathway ensures the root causes discovered are tied to the solutions developed. With Kure’s Solution Selection Matrix, the team collaboratively developed solutions that would provide the most impact for the least effort. The team chose to:
Implement adverse action emails for hard declined applications
Trim follow-up days from 14 to 10
Mandate branch visits for questionable applications
Automate emails to applicants for non-responsive follow-ups
Develop a detailed script for callback attempts
Collaborate with software providers to enhance fraud detection
Seek recommendations from the Financial Intelligence Unit (FIU) for future budgetary inclusions
Kure led the team along a path plan and implement their solutions, then guided them through demonstrating results with a Verification of Improvement.
The callback completion rate soared to an impressive 99.12%. The team achieved near-perfection swiftly and efficiently, without the need for costly software purchases and automation.
Control
The challenge lies not just in improving the process but in sustaining it. Kure, like a coach on the sidelines, provides strategic insights and guidance to navigate the strategic issues of closing a project by facilitating the Project Handoff, effectively passing the baton to daily operations. To ensure the results are sustained, Kure’s Monitoring and Response Plan identifies how day-to-day operations can carry the improved process forward, and continue pursuit of a 100% completion rate. Kure’s best practice approach to project closure frees up the leader and team to focus on other improvement opportunities.
Conclusion
Premier America's journey exemplifies the tangible benefits of applying Kure’s Lean Six Sigma methods to intricate financial operations. Kure’s user-friendly approach fostered quick problem-solving, culminating in a remarkable enhancement of Member Service. Kure eliminates the uncertainty and complexity of the traditional approach to process improvement, catalyzing improvement, innovation, and decision-making.
