DENVER, CO--(Marketwired - November 30, 2016) - According to a recent survey, only 50% of call center agents have access to a knowledgebase with free text search. When one of America's largest mortgage loan servicers set out to improve efficiency and regulatory compliance, they turned to the contact center consulting experts from Eventus Solutions Group to deploy Oracle Service Cloud Knowledge Management with integrated agent and borrower portals. Eventus also initiated the content migration process and helped this company establish a knowledge governance process.
Before the 2008 financial crisis, the bulk of the regulatory and compliance burden on the mortgage industry fell on the lenders that originated loans, not the administrators that serviced them. However, new regulatory and compliance requirements resulting from Dodd-Frank and the Consumer Financial Production Bureau have shifted the focus to the mortgage servicers that interact with consumers over the life of the mortgage. These regulatory changes have had significant cost impact throughout the mortgage servicing industry, forcing industry players to find ways to reduce costs in some areas so they could boost resources focused on compliance.
As one of the leading mortgage servicers in the US, this company realized they needed to update their technology to meet their corporate goals. Working with Eventus call center consulting experts, the company realized improving its knowledge management capabilities would both reduce costs through increased agent efficiency, as well as improve regulatory compliance by providing new mechanisms for standardizing the information the company and its agents communicated with its borrowers.
The company needed to increase internal agent efficiency and expand its external borrower information. Their call center agents were struggling to find the information they needed using a combination of PDF and linked Word documents through shared network drives. Also, important information was hidden in multi-page documents and difficult to access quickly. Finally, the company had no guiding entity or process for creating and maintaining relevant, accurate and compliant information.
An expert Eventus call center consulting team deployed the Oracle Service Cloud Knowledge solution with agent and borrower portals. It initiated a content transformation process to organize and standardize existing content. It also established a new Knowledge Management team and supporting governance process for creating, reviewing for compliance, publishing and maintaining relevant information.
During the project, the team transformed hundreds of internal articles, dozens of external FAQs, and successfully transitioned the transformation process to the new KM team. Also, the new Knowledge Management governance process increased agent participation in Voice of the Customer content recommendations. Finally, this company has seen decreased publishing time for new and updated content with greater regulatory compliance.
"Implementing a single, modern knowledgebase to support both contact center agents and customer-facing portals is a best practice with proven ability to reduce costs and increase customer satisfaction," said Milos Djokovic, Eventus Managing Director. "In this case, our client also achieved a third important benefit: increased regulatory compliance."
Eventus Solutions Group is a nationally recognized consulting and managed services firm that helps its clients optimize the way they engage with their customers in contact centers and digital channels. The company's unique business model has earned it recognition on the Inc. 500 list of fastest growing private companies and has helped Eventus build a client list that includes some of the most well-known brands in healthcare, insurance, retail, communications, government and other industries. For more information, visit http://www.eventusg.com, or follow us on LinkedIn or Twitter @eventusg.
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