Fiserv (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that First Financial Bank of Arkansas, headquartered in El Dorado, Ark., implemented ConvergeIT: IVR (Interactive Voice Response) from Fiserv.
ConvergeIT: IVR offers a flexible, interactive voice response system with choice and control for messaging, call flow and functionality. The underlying architecture of the ConvergeIT: IVR solution interfaces directly with Signature(R) from Fiserv, the bank's current platform for account processing, as well as other account processing platforms from Fiserv.
First Financial Bank selected the solution from Fiserv to help meet its long-term technology strategy, for which all requirements were aimed at improving the overall customer experience. The bank sought a system that could scale to handle thousands of calls per day, optimize current business processes and provide the ability to fully leverage its investments in existing and future telephony solutions. Another top priority for First Financial was to reduce risk with a resilient and fully redundant architecture. The Fiserv system can be proactively monitored to ensure maximum uptime and little or no disruption to customer service.
"Maintaining excellence in customer service is the cornerstone of First Financial Bank's success. When we hear about a problem with the IVR system from a frustrated customer, it is already too late," said Stewart Wilson, senior vice president of operations, First Financial Bank. "A negative customer experience can be shared with others in person or via social media, to extend the impact. With ConvergeIT: IVR from Fiserv, we are more confident in our ability to fully meet our customers' service expectations to deliver the best experience possible. In fact, the implementation itself was completed without downtime or interruption of service."
First Financial Bank was able to automate a substantial percentage of its communications following its implementation of ConvergeIT: IVR. For example, First Financial Bank identified that a significant segment of call inquiries are asking about EFT (Electronic Funds Transfers) transactions. These inquiries can now be addressed in real-time, and customers can quickly and easily retrieve their information without needing to ask to be transferred to a specialist at the bank.
Additionally, the ConvergeIT: IVR dashboard and ad hoc reporting functionality provide the necessary tools for First Financial Bank to properly track: daily call volume, inactive and dropped calls, how effectively the customers are using the IVR system and other real-time information. These reports have assisted First Financial Bank with driving improvements in customer service and maximizing its IVR investment.
"With their expected growth, First Financial Bank can now move forward with a solution that will scale to its specifications," said Dave Santi, division president, Bank Solutions, Fiserv. "At Fiserv, we realize that delivering an integrated IP telephony solution can help deliver sustainable productivity and growth for our clients. This is an example of Fiserv providing comprehensive financial service solutions that integrate with our account processing platforms to provide a total banking solution."