A Fortune 500 financial institution wanted to conduct a root cause analysis on their customer complaint program, seeking to enhance the categorization and insights process. The Northridge Group listened to a statistically valid sample of calls categorized as complaints across multiple business units, and determined the opportunities for improved categorization, process, and compliance risks associated with the customer interactions.
Through the deep analysis of the calls categorized as a complaint, The Northridge Group found that only 40-50% of these categorized calls are truly complaints. This high volume masks the visibility to trends in customer complaints that require immediate attention. In addition, the current process is highly manual, which is costly and limits the effectiveness of issue resolution.
The Northridge Group provided action-oriented recommendations to achieve the improvement opportunities highlighted through the analysis.
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