First Financial Bank of Arkansas Implements ConvergeIT: IVR from Fiserv
o New interactive voice response system helps to enhance the customer experience as well as staff productivity
o Implementation reduced risk with redundant architecture and provided a cost savings through a single server system
Brookfield, Wis. - Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that First Financial Bank of Arkansas, headquartered in El Dorado, Ark., implemented ConvergeIT®: IVR (Interactive Voice Response) from Fiserv. ConvergeIT: IVR offers a flexible, interactive voice response system with choice and control for messaging, call flow and functionality. The underlying architecture of the ConvergeIT: IVR solution interfaces directly with Signature® from Fiserv, the bank's current platform for account processing, as well as other account processing platforms from Fiserv.
First Financial Bank selected the solution from Fiserv to help meet its long-term technology strategy, for which all requirements were aimed at improving the overall customer experience. The bank sought a system that could scale to handle thousands of calls per day, optimize current business processes and provide the ability to fully leverage its investments in existing and future telephony solutions. Another top priority for First Financial was to reduce risk with a resilient and fully redundant architecture. The Fiserv system can be proactively monitored to ensure maximum uptime and little or no disruption to customer service.
"Maintaining excellence in customer service is the cornerstone of First Financial Bank's success. When we hear about a problem with the IVR system from a frustrated customer, it is already too late," said Stewart Wilson, senior vice president of operations, First Financial Bank. "A negative customer experience can be shared with others in person or via social media, to extend the impact. With ConvergeIT: IVR from Fiserv, we are more confident in our ability to fully meet our customers' service expectations to deliver the best experience possible. In fact, the implementation itself was completed without downtime or interruption of service."
First Financial Bank was able to automate a substantial percentage of its communications following its implementation of ConvergeIT: IVR. For example, First Financial Bank identified that a significant segment of call inquiries are asking about EFT (Electronic Funds Transfers) transactions. These inquiries can now be addressed in real-time, and customers can quickly and easily retrieve their information without needing to ask to be transferred to a specialist at the bank.
Additionally, the ConvergeIT: IVR dashboard and ad hoc reporting functionality provide the necessary tools for First Financial Bank to properly track: daily call volume, inactive and dropped calls, how effectively the customers are using the IVR system and other real-time information. These reports have assisted First Financial Bank with driving improvements in customer service and maximizing its IVR investment.
"With their expected growth, First Financial Bank can now move forward with a solution that will scale to its specifications," said Dave Santi, division president, Bank Solutions, Fiserv. "At Fiserv, we realize that delivering an integrated IP telephony solution can help deliver sustainable productivity and growth for our clients. This is an example of Fiserv providing comprehensive financial service solutions that integrate with our account processing platforms to provide a total banking solution."
ConvergeIT: IVR is a part of a larger suite of integrated telephony solutions from Fiserv, which includes applications for call centers and VoIP (Voice over Internet Protocol) systems, all running on a single cost-saving server. The suite provides financial institutions the convergence of voice, data and unified communications around a shared IP-based infrastructure, allowing them to make and receive calls, and handle SMS and email with comprehensive support for traditional voice communication.
o Case Study: First Financial Bank of Arkansas - http://bit.ly/z8u5DP
About First Financial of Arkansas
First Financial Bank has deep roots in the community of El Dorado, Arkansas. It first opened in 1934 and currently services its community with seven retail banking locations along with five ATM locations in the El Dorado community. In the Mississippi Region, the bank has two retail locations and two ATM locations. Additionally, it serves both Arkansas (El Dorado, Little Rock, North Little Rock, Fort Smith, and Jonesboro) and Mississippi (Carthage) with First Financial Mortgage locations. The agricultural lending division includes offices in Arkansas (El Dorado, Mena, Morrilton and Fayetteville); Alabama (Enterprise and Fort Payne); Kentucky (Elizabethtown); Mississippi (Carthage); Texas (Nacogdoches); Georgia (Gainesville); and North Carolina (Goldsboro and Monroe).
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry. Fiserv is driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For six of the past eight years, Fiserv ranked No. 1 on the FinTech 100, an annual international listing of the top technology providers to the financial services industry. For more information, visit www.fiserv.com.
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