Debt collectors are challenged to maximize revenue collection while remaining compliant, and treating consumers fairly and with respect. Speech Analytics can help ensure agents are effective and compliant and that consumer data is protected.
Speech Analytics: Increase collections while reducing compliance risk
1. Presente
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Presente
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Speech Analytics
Increase collections while reducing
compliance risk through automated
call monitoring
Scott Kendrick
VP, Marketing
2. Founded in Fort Myers, FL – 2002
Speech/interaction analytics specialists
Headquartered in Waltham, MA
Offices in Nottingham & Sydney
40% of clients in accounts receivables
Automated agent monitoring
& performance feedback
Customer engagement analytics
& intelligence platform
A Bit About CallMiner
4. Debt Collection Regulation
Written notice
Follow up after 6 days
Contact within certain times
Restricted use of language
‒ Intimidation
‒ Threats
‒ Profanity
‒ Coercive language
‒ Unreasonable pressure
Consumer Debt/Risk
167.6%
consumer debt
to income ratio
+7.8%
consumer
insolvency vs.
‘Q215
credit market
debt to GDP
100.5%
7. An Illustration of the Issues with Manual Monitoring
R² = 0.10410
20
40
60
80
100
120
0 20 40 60 80 100 120
FEBY2
DEC Y1
Dec Vs. Feb Manual Scores
8. Proprietary & Confidential, CallMiner Inc.
8
What if you could…
(automatically)
Tag calls that are out of compliance
Identify high risk teams or collectors
Identify behaviours that lead to collection
Alert managers, guide agents in real-time
Identify consumers likely to pay
Redact sensitive data
…for all calls?
10. Proprietary & Confidential, CallMiner Inc.
10
Transcription &
acoustic measurements
(redacted)
Automated categorization
and tagging
(language patterning)
Compliance, behavior &
targeted coaching insight
Configurable automated
scoring & tracking
100%
Interactions
Audio
Values
Metadata
Values
Agitation
Chats
Surveys
Text Messages
Emails
Twitter
Word Tempo
Silence
Agent Info
IVR Details
Caller Info
CRM Data
WFO Data
Calls
With metadata
How Speech Analytics Works
11. Proprietary & Confidential, CallMiner Inc.
11
Automated categorization
and tagging
(language patterning)
Compliance, behavior &
targeted coaching insight
Configurable automated
scoring & tracking
100%
Interactions
With metadata Transcription &
acoustic measurements
(redacted)
Good morning. Is this Gabriel Nelson of 1255 Elm Street?
Yes. If you don’t stop calling me I’m going to contact my attorney.
I must inform you this call is on a recorded line and this is an attempt to collect a debt.
I’ve already paid my bill in full. I do not understand why you people keep harassing me!
How Speech Analytics Works
12. Proprietary & Confidential, CallMiner Inc.
12
Compliance, behavior &
targeted coaching insight
Configurable automated
scoring & tracking
100%
Interactions
With metadata Transcription &
acoustic measurements
(redacted)
Automated categorization
and tagging
(language patterning)
Proper
Greeting
Right Party
Contact
EmpathyPayment
Language
Dissatisfaction Recording
Disclosure
PolitenessLegal
Threat
Close
Language
How Speech Analytics Works
Good morning. Is this Gabriel Nelson of 1255 Elm Street?
Yes. If you don’t stop calling me I’m going to contact my attorney.
I must inform you this call is on a recorded line and this is an attempt to collect a debt.
I’ve already paid my bill in full. I do not understand why you people keep harassing me!
13. Proprietary & Confidential, CallMiner Inc.
13
Transcription &
acoustic measurements
(redacted)
Automated categorization
and tagging
(language patterning)
Compliance, behavior &
targeted coaching insight
100%
Interactions
With metadata
AGENT
QUALITY
82
CHURN
RISK
HIGH
CUSTOMER
SATISFACTION
36
EFFICIENCY
RATING
Optimal
COMPLIANCE
RISK
Low
SALES
EFFECTIVENESS
Low
Configurable automated
scoring & tracking
How Speech Analytics Works
14. Proprietary & Confidential, CallMiner Inc.
14
Transcription &
acoustic measurements
(redacted)
Automated categorization
and tagging
(language patterning)
100%
Interactions
With metadata
Configurable automated
scoring & tracking
Compliance, behavior &
targeted coaching insight
Real-time
Monitoring
Search, Trend, Discover
Compare, Report
ALERT ANALYZE
Automated Quality or
Performance Management
FEEDBACK
How Speech Analytics Works
Exporting Data to 3rd
Party Applications
API
15. Proprietary & Confidential, CallMiner Inc.
Post Contact Analytics
Agent performance evaluation
Trend tracking/analysis
Ad hoc search, investigation
Root cause analysis
Omni-channel, journey analytics
Predictive modeling
Monitoring, alerting
Next-best-action guidance
Supervisor shadowing
Escalation, call intervention
Real-time Analytics
16. We're monitoring calls in a way that we just
weren't able to before for things like
compliance, professionalism, and courtesy.
Tracy Dudek
Vice President, Operations
“
Hours/Yr Saved
4000
Improvement in FCR
23%
Revenue/Agent/Month
$2,278
Average Silence
12%
17. More than 70 fields [of metadata] are utilized
within CallMiner to generate predictive
guidance for account management prioritizing,
along with words to use to make conversations
with debtors more productive.
Richard Britt
Director of Consumer Data
Management & Strategy
“
Unproductive Hours
72%
Revenue Increase
$5.9m
Conversion Rates
7.8%
Hang-ups
18%
19. Proprietary & Confidential, CallMiner Inc.
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customers. Improve your business.", "Feedback Is A Gift", "Listen", "Engagement Optimization", the "Engagement Optimization" logo, and "EO" are trademarks or registered
trademarks of CallMiner, Inc. in the United States and foreign jurisdictions. Other product names mentioned herein may be the trademarks of their respective owners.
www.EngagementOptimization.com
Community for Customer Engagement Professionals
Scott.Kendrick@callminer.com
www.callminer.com
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781-547-5666
