vCard Portfolio |
Vicorp have designed the vCard Portfolio specifically for card-issuing organisations. The modules within the portfolio range from card activation to fraud prevention, and they help the call centre by automating appropriate over-the-phone transactions and enquiries.
A modular solution, it offers customers the flexibility to select just one application module or a whole range. Each solution is tailored to the requirements of the individual card issuer and we work with you to make sure that it meets your callers’ and your business needs and at the same time reinforces your brand identity.
What are the benefits?
There are many benefits which apply to self-service in general, as well as specific benefits to collaborating with Vicorp for your ultimate plastic card solution.
1. Offers cost savings and fast return on investment
Time and time again self-service applications prove their worth with their cost-saving benefit. According to The ContactBabel ‘ UK Contact Centre Operational Review 2008’ self-service saves UK contact centres £1.6 billion per year. Additionally, depending on the type of application, return on investment can be counted in weeks and months rather than in years.
2. Frees up agents’ time for more complex calls
Many calls received by and made by agents are repetitive and mundane and where parameters and processes are constrained, speech self-service will deal with the call efficiently and without the caller having to wait. This improves agent motivation as they no longer need to deal with the mundane and their time is freed up for complex and challenging enquiries.
3. Provides a natural interface for cardholders
Although it was expected that consumers would turn more and more to the Web, the telephone remains the most popular and intuitive vehicle for communication. Every household has at least one phone and the number of UK mobile phone subscriptions has increased more than 500% over the last 10 years. A well-designed self-service solution can increase customer satisfaction by cutting waiting time and offering what the caller wants from a simple, intuitive system.
4. Portable solutions with no technology lock-in
Vicorp’s solutions are based on open industry standards and are totally portable, so there is no technology lock-in, leaving you free to upgrade or change providers without losing your self-service applications. Additionally, Vicorp’s flexible solutions are easy to modify to fit changing circumstances.
5. Enhances customer service
Automated self-service allows organisations to run 24x7 with little or no additional cost. This enhances the customer service and enables callers to call in when it suits them and not necessarily during core hours. With increasingly hectic lives, callers need more flexibility from customer service.
6. Enables multi-branding cost-effectively
A unique feature of Vicorp’s solution modules are that they can be easily and dynamically ‘re-skinned’ to accommodate multiple brands, ensuring that the card issuers do not have re-development costs when looking to extend the solution across their own portfolio.
7. On-demand options
Flexibility in delivery methods enables the card issuer to select the appropriate model for their business. Vicorp’s vCard Portfolio can be delivered as a hosted or customer premise solution or a mixture of the two and will take into consideration the card issuer’s current technology set-up and their future plans. Vicorp’s on-demand solutions also allow for pay-as-you-go options at the application level ensuring that expenditure is not unnecessarily wasted.
What are the modules?
The vCard Portfolio offers a range of modules that tackle different business issues.
- Identify & Verify (with or without Voice Passport)
This module is the basis of the plastic card application portfolio. It allows the cardholder to be identified by an automated system over the telephone. For extra security, you can choose Voice Passport, which uses voice biometrics, where the cardholder’s voiceprint is used to identify the caller. Since voiceprints are as unique to an individual as fingerprints, this added security helps to reduce fraud even more.
- Intend to Travel
This module allows cardholders to give advance notice to the card issuer of their intent to use their card abroad. The card issuer may then use this information to manage fraudulent purchases by monitoring activity in the destination country during and after the cardholder’s stay.
- Confirm to Pay
Designed mainly for cardholder-not-present transactions, this is an automated business process that enables the card issuer to make an outbound telephone call to a cardholder to confirm their identity when the cardholder is performing a purchase that is out of character or above a specific threshold set for the cardholder.
- Commit to Pay
Extremely powerful and intuitive, this not only enables the caller to retrieve their outstanding balance, it can also automatically ask the caller if they want to pay more of their outstanding balance. It is designed to close the cardholder’s arrears gap and does so without having to involve an agent, which can be a very difficult call for the agent to make. Anecdotal evidence suggests that callers are more responsive to automated calls on this topic.
- Prompt to Pay
This module allows the card issuer to send outbound reminders to customers according to the business rules set. Accounts can be settled over the phone, or the customer can simply take the call, or SMS, at its face value – a reminder.
- Activate Card
Following the issue of a new card, this module allows the cardholder to activate the card over the telephone.
- Call Routing
The Call Routing module is a set of dynamic (and potentially personalized) menu options enabling the cardholder to select self-service options, as well as requesting a transfer to an agent.
- Transactional Journal
Designed to keep the cardholder up to date with card transactions, this module helps to prevent fraud and keeps the cardholder informed of their card activities.
Although common modules are listed here, the flexibility of Vicorp’s solutions enables our customers to work with us to produce their ultimate plastic card solution suite. The portfolio is not restricted to these listed modules and our award-winning professional services team is ready to address any specific requirements.