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reduction in non-compliance


lift in dollars collected per hour


of calls audited


fortune 50 bank




financial services


The Challenge

Collections represent an important part of a consumer bank’s business. Calling customers is a necessary standard procedure. However, regulatory bodies and government regulations require banks to maintain a strict level of compliance and immediately cease all collection efforts with customers that verbally notify banks of a financial hardship.

To comply, banks must manually review calls for financial hardship references and track these customers before they are called again. The process, in addition to attempting to refute any customer claims, takes significant resources and effort, and frequently results in error. The consequences can be severe, ranging from damaged reputations to legal action amounting to millions of dollars in non-compliance settlements.

This Fortune 50 bank needed a solution that would help achieve its goal of maintaining legal compliance, avoid legal action, and improve customer experience. It looked to its existing call recording and coaching service partner, Mattersight, for a way forward.

The Solution

Mattersight deployed its proprietary Conversation Data, Agent Desktop Capture, and Speech Analytics products to hundreds of collections agents across multiple sites. Fueled by state-of-the-art linguistic algorithms, Mattersight identified specific keywords captured during a call that could result in compliance violations. When one of these keywords was detected, Mattersight’s analytics tool monitored the agent’s response and captured when incorrect data was selected or entered. The system then notified the bank’s auditors of the incident within an average of 45 minutes. This turn-around time greatly reduced the risk of an agent calling a customer the following day and violating the regulations in place.

"Mattersight is our legal defense."

-Call Center Senior Vice President

The Results

Mattersight’s pioneering technology helped the bank to:

  • Achieve an astonishing 96% compliance
  • Flag, capture, and correct the remaining 4% of calls that contain troubling language, preventing violations from occurring
  • Improve its auditing expenses by 11% per hour, largely due to auditors no longer having to listen to a sample of phone calls and potentially missing violations
  • Reduce legal expenditures due to 100% of all collections calls being recorded and automatically audited, providing evidence to easily counter false, non-compliance lawsuits

Achieving Best-in-Class

The application of Mattersight Capture, Analytics and Productivity products have helped the bank achieve best-in-class compliance as well as recognition from regulatory agencies for its exceptional efforts. It has also distinguished them as a customer experience leader in the highly-competitive consumer banking landscape.

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