SBI Cards and Payment Services Limited - Innovation in Customer Service

Company: SBI Cards and Payment Services Limited , Gurgaon , Haryana
Company Description: SBI Card was launched in October 1998 by the State Bank of India and GE Capital. Today SBI Card , is the 2nd largest Credit card issuer in India with over 10 million customers across diverse geographies and social strata . The company offers Indian consumers access to a wide range of world-class, value-added payment products and services.
Nomination Category: Customer Service & Call Center Awards Achievement Categories
Nomination Sub Category: Award for Innovation in Customer Service - Financial Services Industries

Nomination Title: Award for Innovation in Customer Service

“SBI Card Customer experience team is committed to establish new standards of service excellence by continually innovating superior, reliable and responsive services to our customers”

SBI cards , The 2ndlargest Credit card issuer in India with over 10 million customers across diverse geographies and social stratahas successfully implemented a Digital CustomerEngagement strategy aimed at transforming the customer experience across service life cycle.

Key Highlights:

Focusing on Customer Experience by driving digital transformation – providing customer an opportunity engages in multiple channels while keeping it a part of unified customer journey

Ease of Use, Availability of service options and effective promotion lead to
-Digital penetration @86.62%(% of digital contacts to total contacts)
-92.75% Digital effectiveness (Customers using Digital Channel only)
-91.02%of Total service requests are raised on digital channels

AI powered Chatbot “ILA” with 28 self-service options has a 98% success rate handling5.7 million queriesfrom8.6 Lakhs customersp.m., generating Rs. 231 million of Upsell.
-IVR in 9 languages offering 20+ self-service options with 65% containment rate handling 4.5 million calls p.m.
-4.6/4.7 rated (android/IOS) app with 40+service option (29 million customer

Outline the nominated achievement since July 1 2019 that you wish to bring to the judges' attention (up to 250 words):

At SBI Card , Innovation is triggered by our drive to be in sync with customers’ changing preferences and outlook along with the increased spending power and exposure . Indian consumers are seeking newer and better experiences

INITIATIVES TAKEN TO ENHANCE CUSTOMER EXPERIENCE -

Conversational Knowledge Bot “Drishti”
In growing realization about the importance of delivering precise information to customer, emphasis is on overall customer centric approach. This technology equips the agent to provide faster and Realtime information and resolution to customer queries, requests, Consistently across all touch points. Penetration increased to 92% across the centers.

Project Optimize: Work Force Optimization through central command center model for Performance, work force and quality management tools along with Centrally monitored state of art command center lead to benefits like increased forecasting accuracy of demand, effective scheduling of resources, increased utilization and increase in shift adherence by 16%, leading to 41% improvement in productivity and enhanced customer experience.

Online Dispute Management –
Customer Online Dispute Empowerment (CODE) is an industry first functionality launched to provide SBIC Cardholders the ease and capability to dispute transactions through Mobile App and Website. The change in process resulted in improved self-serve, proportion of first time right dispute capturing (with right documents, etc.),

ILA (AI Powered Chatbot)-Putting Artificial Intelligence (AI) at the heart ofcustomer service experience strategy : Launched on mobile app for conversational experience catering to approx. 1.24 lakhs customer queries per day

Digital Onboarding: enabling cutsomer to self onborad without plastic card for fasterusage.

Explain why the achievement you have highlighted is unique or significant. If possible compare the achievement to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):

SBI CARD has invested in enhancing the Customer Experience by rolling out multiple strategy on the front end :
-Go the Extra Mile for Servicing (GEMS)a real-time customer sentiment analysis mechanism, for negative VOC (Detractors). This led detractor -reduced to 2.25% in Oct’20 from 5%.
-During the ongoing pandemic (COVID) the Online Disputes Self Service feature helped customers to track the status of their ongoing disputes/past disputes online .This has led to 33% reduction in complaints post launch, resolution TAT improved for overall inventory @ 100% in 90 days.
-Introduced Digital Onboarding: Enabling the newly carded customer to register online without using plastic card and initiate self-onboarding for faster first time connect and usage of the product. Approx. 150K customer Digitally Onboarded since Nov’19 and 21K+ proactive registration on website.

In parallel, SBI Card has also invested heavily in digitizing internal processes which ultimately enhanced Customer Experience:
-Conversational Knowledge Bot: helping agent with faster access to knowledge and accurate execution. Penetration has touch 92% across centers. Thereby, delivering precise information to the customer.
-Workforce management and performance management tools deployed with centrally monitored by state of art command center lead to benefits through increased forecasting accuracy of demand, effective scheduling of resources and increased utilization and in shift adherence by 16%. Also, enabling Real time Monitoring and dynamic reporting of agents

-DIGITAL ROLLOUT– Embracing AI & ML through implementations of our Chatbot (ILA). RPA deployment yielded benefits in operational excellence by rightsizing the team by 63 FTE’s.