Westlake Financial: increased efficiency through behavior-based coaching

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With the transition to remote working in many offices, auto lenders need to ensure that customer service standards are met and loan servicing is quick and accurate – tasks that become more difficult as consumers continue to work. seek prompt assistance during the pandemic.

Westlake Financial Services, for its part, turned to behavior-based coaching to identify quickly and on a large scale how agents should be coached. This reduces the time needed to advise employees and manage call volume, Brian Renfro, vice president of maintenance, said Excellence in automotive financing.

“You want to maximize your time on these calls, you want to maximize an agent’s effort, you want to maximize the borrower’s time,” Renfro said. “There are so many pieces of the puzzle that make up an appeal.

While Westlake already has a system in place for listening to calls and identifying skills for improvement, the process of listening to calls and coaching employees one-on-one is tedious, Renfro noted. With the coaching software, Westlake is able to focus on specific behaviors by reviewing call transcripts and analyzing weekly coaching trends.

“We’re not reinventing how to make a phone call; we are not reinventing behavior; it’s just an opportunity for us to improve in our job as far as coaches are concerned, ”said Renfro.

Using a coaching platform also improves a call center’s ability to spot errors, Westlake Service Manager Jennifer horton mentionned. “You can spend all of your time listening to every call,” she said. With behavior-based coaching, lenders can read call transcripts and identify where something was missed, she explained.

Coaching becomes especially important when it comes to dealing with delinquencies and consumer loan payments, Renfro added. He noted that when a customer says they can’t pay, it’s easy for agents to skip additional questions about why the customer is having trouble making their payments and how the lender can fix the issue.

Since adopting behavior-based coaching, Westlake has seen a 34% increase in employee adherence to the lender’s best practices of speaking with clients to understand why they are struggling to pay, Renfro said. . Westlake Financial partners with Voice operations, an AI-based coaching software for its call centers.

Additionally, behavior-based coaching helps eliminate redundancies, Renfro said. “It covers a lot of the appeal that we need to know about, to save us time and extra supervisory work – all the things that end up costing a lot of money,” he said. “We can hopefully establish what we need to establish within this calling and not repeated conversation.”

Auto Finance Innovation Summit, the first technological event in the field of automotive financing, returns from March 16 to 17, 2021 in the form of a virtual experience. The virtual experience will provide quality networking and education from past events, all through an online platform. To learn more about the 2021 event and to register, visit www.AutoFinanceInnovation.com.

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