TD Visa: Improving Customer Service and Increasing Operational Effectiveness In a Growth Business

Overview

TD Financial Group’s Visa card business had grown its portfolio of accounts by 50% in just two years and had planned to continue aggressive growth in both domestic and international markets. Management was convinced that service excellence was the key to continued success in this highly commoditized business.

However, TD Visa’s service operation was in no position to grow with the business. Day-to-day service fulfillment activities were inefficient and complicated by the underlying system infrastructure. This resulted in lengthy issue resolution times for customers as even the most basic customer request required three business days to process. Legacy systems were expensive to maintain, difficult to use and riddled with manual intervention steps. Perhaps most importantly, TD Visa’s growth would be impacted because the functionality needed to support new card products could not be developed on these inflexible solutions.

To address these issues, Pegasystems’ PegaRULES Process Commander was selected as the BPM technology to provide a full servicing backbone solution, “wrapping” around a new core processing platform and automating processing activity from the call center through to the back office. Key benefits of the new system would include a 30% increase in one-touch customer service resolution and a 70% reduction in average resolution times for requests requiring backoffice intervention. In addition, 50% of the back-office dispute staff was redeployed and training and ramp-up time was significantly reduced through intent-led processing. Finally, management and regulatory reporting was reduced from three to seven days (or more) to less than 10 minutes.