Case Study: a top U.S. financial services company achieves best-in-class compliance and customer experience with Mattersight Voice and Desktop Analytics

Top Retail Bank Achieves Best-In-Class Compliance and Customer Experience

a top U.S. financial services company was struggling with the high-cost and error-prone manual process of ensuring compliance in its debt collection calls. The challenge was to immediately halt calls to customers who reported financial hardship to avoid violating regulations from bodies like the CFPB and OCC, a failure which had previously led to costly legal settlements. The company turned to its existing partner, Mattersight, for a solution using its Voice and Desktop Analytics.

Mattersight implemented an automated system that uses voice analytics to identify keywords indicating financial hardship and desktop analytics to monitor agent responses. This solution audits 100% of calls and flags potential compliance issues for auditors within 45 minutes. The results for the client included an 80% reduction in non-compliance, achieving a 96% compliance rate, an 11% lift in dollars collected per hour, and significant savings on legal expenditures by providing a defense against false claims.