That situation is further complicated by the requirement to ensure parity of outcomes across all channels. All communications should be “equally effective, regardless of the channel used”.
Whilst the FCA says it does not expect firms to capture every communication –calls, digital and face-to-face – it’s Consumer Policy Manager, Richard Wilson notes that this will be the best way to confirm they are understandable.
Principal Insurance is just one regulated firm to turn to Xdroid, a powerful omni-channel interaction analytics solution, to support implementation of Consumer Duty and the company’s wider business needs.
“Xdroid slots into Consumer Duty in so many ways,” says Sharron. “It can capture, transcribe, analyse and score every communication. It’s highly accurate, self-learning and our staff are very engaged with it.”
Her comments are echoed by Avoira CX Consultant Sam Goundry, who says:
“Xdroid’s technology allows for quick identification of potential vulnerability and a variety of high-risk call types, such as the provision of incorrect information or advice, and customer dissatisfaction.
“Using real time prompting, the technology can empower agents to influence conversations live in the moment, whilst notifying a manager when appropriate. This ensures customers receive the best possible experience and outcome.
“The detailed post call reporting also highlights any trends and allow the senior leadership team to make informed decisions on opportunities for further improvement.”