Sumitomo Mitsui Trust TA Solution Co., Ltd
As the industry leader, Sumitomo Mitsui Trust TA drives Contact Center Digital Transformation (DX). transcosmos helped Sumitomo Mitsui Trust TA increase the quality of customer service, thereby boosting shareholder customer satisfaction.
Sumitomo Mitsui Trust Group covers an extensive range of businesses, operating call centers for the group’s 12 business units. Yet, the group has been faced the challenge of coming up with measures to assist call center agents who work at its stock transfer agency business in terms of their knowledge and the level of customer services. The two AI services Sumitomo Mitsui Trust TA has deployed were exactly the solution for the company to overcome this challenge.
Assist Sumitomo Mitsui Trust TA in achieving digital transformation of its contact centers.
- transcosmos helped the company implement and operate two AI services (speech recognition AI and text summarization AI)
- Key services
1) Registered industry & call center terminology to enable the AI to convert call center conversations into text.
2) Organized documents to make the AI search related materials based on keywords, and present relevant materials and answers to agents in a popup window.
3) Developed templates and rules for the AI to summarize conversation records.
4) Repeated POC testing and evaluation process, and tuned AI models to put them into practical use.
- Reduced contact center agents’ annual total working hours by around 9,200 (about 10%), achieving an ROI for the two AI services only after two years.
- Enabled supervisors to support multiple agents simultaneously regardless of their locations, thereby increasing agents’ productivity.
Leveraging strategic, highly advanced technologies at our contact centers has been our critical mission in order to both enhance shareholder services and increase customer satisfaction. It has been nearly two years since we implemented the two AI services with the support of transcosmos. We are grateful for transcosmos for enabling us to achieve significant results with the combined services. Yet, creating a new business with the accumulated data remains a challenge. We will discuss the way forward including the possibility to use new system vendors for this. We have high expectations for transcosmos in continuously evolving our contact centers together with us.
Mr. Noriyoshi Suzuki
* The comment, position and other information above are at the time of interview conducted in January 2021
Bring Digital Transformation in voice-centric contact centers
Stock transfer agencies handle all administrative tasks associated with stock on behalf of a company. As a member of the Sumitomo Mitsui Trust Group, Sumitomo Mitsui Trust TA Solution Co., Ltd. (SuMi Trust TA) performs comprehensive operations related to the stock transfer agency business including “administrative tasks, system design, development and operations, and contact center operations and management.”
Given that individual stockholders include many senior customers who primarily use phones for making enquiries, agents’ service quality has a direct impact on the level of stockholder customer satisfaction.
In addition, as an increasing number of public companies take individual stockholder-centric policy in recent years, their customer satisfaction has become more important than ever before. As the industry leader, SuMi Trust TA has been driving initiatives to enhance the level of customer services for stockholders, and to deliver contact center digital transformation (DX).
Speech recognition and Text summarization.
With the combination of the two AI services, SuMi Trust TA successfully achieved contact center digital transformation
transcosmos helped SuMi Trust TA deploy two AI services, namely speech recognition (AmiVoice) and text summarization (TRAINA), thereby helping SuMi Trust TA achieve its digital transformation.
The speech recognition AI automatically converts call conversations held between stockholders and agents into text, and presents adequate keywords picked up from the conversation in a popup window. Once an agent clicks the popup window, suggested answers and relevant customer service scripts automatically appear on the agent’s screen.
This eliminates many of the call agents’ tasks such as taking notes and searching for relevant manuals. As a result, the speech recognition AI not only reduced call center agents’ workload but also enabled even the junior agents to provide appropriate answers quickly, decreased on-hold frequency, and reduced response times. What’s more, its alert feature enabled agents to contact their supervisors immediately when they face customer complains, thereby relieving their psychological stress. At the same time, supervisors can grasp the situation by reading the conversations that have been converted into texts, and give appropriate advice to the agents. As a result, agents can support the stockholders without making them wait for a long time.
Besides, with the text summarization AI that automatically summarizes text converted from a conversation record, SuMi Trust TA successfully reduced post-call processing time, evened out the quality of call recordings, as well as simplified and shortened the time required for new agent training.
In addition to assisting agents, the combination of two AI services - speech-to-text and text summarization – also enabled supervisors to always monitor their agents, give guidance for better service swiftly, and grasp what is happening in all centers including remote centers. Ultimately, the combination of two AI services has dramatically increased productivity of both agents and supervisors alike including job allocation and co-working.
Achieved an ROI for the two AI services within two years after deployment
Only two years after the implementation of the two AI services, SuMi Trust TA saw an increase in the level of its call center customer services, which then contributed to boosting customer satisfaction. Besides, the two AI services not only made SuMi Trust TA reduce contact center team’s total working hours by around 9,200 (about 10%), but also cut new agent training hours by three working days/agent (about 10%) through the use of accumulated customer service data. Moreover, by further automating contact center operations, SuMi Trust TA enabled contact center supervisors to support their agents simultaneously regardless of their physical location, thereby achieving higher productivity. Based on such an outcome, SuMi Trust TA gauges that they have fully generated returns on investments made into its digital transformation initiative.
As a next step, SuMi Trust TA plans to analyze the data (voice of stockholders) accumulated over the past two years, and leverage the results for making its customer service even better as well as to offer its own, highly advanced services. Accordingly, transcosmos will continue to offer services that assist contact center agents. At the same time, with the power of diverse cutting-edge technologies, transcosmos will also provide SuMi Trust TA with a variety of self-service solutions such as FAQ features and bot services that will supplement agent services, as well as templates for customer service flows. Ultimately, transcosmos will always offer the right services tailored for SuMi Trust TA.