The Science of call Success

©2014 Fair Isaac Corporation. All rights reserved. 1

The Science of Call SuccessSpeech analytics for collection performance and compliance


People are your strength... You depend on your agents to talk with delinquent consumers and convince them to pay their bills.

...and your weaknessVariation in agent skill and experience levels affect your ability to ensure regulatory compliance and deliver consistently high performance. Some agents are better at handling certain types of situations than others; how do you match them up to increase likelihood of call success?

Analytics can help you raise compliance and performance of all your agents. It can help you deploy your resources where they will be most effective. Here’s how…

In Collections:


Speech analytics gives you automated, data-driven tools for improving agent performance and manageability

With speech analyticsBusiness as usualPercentage of shift manager spends monitoring

Number of calls covered


Revealing the phonetic characteristics of:Monitored and analyzed100% of calls

It shows you the difference between conversational patterns that achieve your call objectives and those that don’t

Successful conversations

What words and phrases—and in what sequence—do the best agents use in specific situations? When talking with different types of customers?

Problematic conversations

Are agents saying the right things at the right times, including required disclaimers? Are threats or inappropriate language being used?


Use these insights to create rules that automatically evaluate and guide agents

By emulating your best people, all agents can raise their performance.


Dynamic displays track team and individual performance

Alerts focus attention on urgent needs

Gain immediate visibility through dynamic dashboards

Intervene, when necessary, while a call is still underway. Focus coaching on precisely those areas where each agent needs to improve.


Accurate, verifiable statistics on key performance indicators and trends are always up to date. Complete audit data is available to show regulators.

See clearly how well you’re doing


A leading collection agency needed to solve compliance and payment request challenges...

This agency applied speech analytics to a sample of calls, it found over $200,000 in potential violations of Fair Debt Collection Practices Act (FDCPA) regulations.

Not only that, but in the majority of calls, agents were failing to ask for payment, resulting in high volumes of callbacks and other operational inefficiencies. When they did ask, they frequently failed to aim initially for full payment.

See their solution and results on the next page.

In 40% of calls, agents asked for less than full payment

In 60% of calls agents failed to ask for payment =

Cumulative result:estimated at $800,000 left uncollected


Within six months of implementing, the collection agency had substantially reduced its compliance risk while achieving:

15% increase in RPC (right-party contact) promise-to-pays

30% increase in cash collected per agent hour

50% supervisor time freed up for other activities

Their solution: Speech Analytics


speech analytics + additional analytics

more word power


Predictive analytics mine phonetic data for complex and subtle conversational characteristics, which can be used to predict the probability of specific outcomes.

Predictive models score agent conversations on the prevalence or absence of these characteristics, enabling agents to adjust their behavior to the conversational patterns that have been empirically proven to work in certain situations.

Uncover more precise clues to success

60 Days Overdue

For example: What are the conversational characteristics that predict success obtaining a payment from customers whose accounts are 60 days overdue but have no other delinquency over the past 12 months? speech analytics

+ additional analytics

more word power


Analytic techniques identify similarities between customers, directing calls to the agents most likely to succeed with specific customer archetypes, such as “Recent job loss but committed to repaying debt” or “Originally intended to pay but considering a strategic default.”

Match up agents with the situations they’re best at handling

Learn about each agent’s strengths with every call

Archetype A Archetype EArchetype DArchetype CArchetype B


more word power


Sometimes, following every step of the prescribed process results in excessive negotiation, long handling times and less than optimal recovery amounts.

Analytics-driven decision strategies can pick up conversational characteristics that trigger rules guiding agents to skip over rungs of the settlement ladder when a truncated course of action will be more effective.

Sometimes it makes sense to skip irrelevant steps to reach call success faster.

Empower agents to make efficient choices


more word power


Learn more:Download the white paper on this topic:

Insights #76: Harnessing the Speech Analytics Advantage

Find out about the FICO® Analytic Cloud: www.ficoanalyticcloud.com

Check out our blogs: FICO Blog

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The Science of call Success

Technology

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