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Verint Impact 360 for Retail Financial Services
Workforce Management Analysis Solution
Verint Witness Actionable Solutions offers Impact 360 for Retail Financial Services Workforce Management solution, which includes forecasting and scheduling, strategic planning, and now, WFM Analysis, helping banks to better analyze work performed and identify areas for improvement. Impact 360 WFM helps banks determine the resources needed to meet customer service targets cost effectively. However, WFM does not provide insight into how the work was performed.
The Verint WFM Analysis solution helps you understand:
- Are people working when they are supposed to be?
- Are they doing what they should be doing?
- Are they performing tasks correctly?
Specific components of the Verint WFM Analysis solution include:
- Application Analysis, which tracks and monitors the desktop application usage
- Application Event Triggering, which captures screen-based triggers or events that the bank defines. The events can be translated into processes and time-stamped logs of activities, identifying how long transactions take, their frequency, etc., and can be used to track activity for productivity and utilization measurement
- Process Analysis, helps you track process time, match individuals to specific processes, track steps against standards or compliance for regulated processes, and identify training needs.
The solution enables banks to:
- Monitor and help ensure adherence to schedules and reduce idle time and time spent on non-value added activities.
- Identify processing best practices for improved efficiencies and service.
- Validate time standards for greater accuracy in forecasting transaction volumes.
- Minimize internal fraud risk with real-time activity reporting.
For example, one of the world’s largest retail banks wanted to improve teller capacity and productivity. As such, it implemented Verint’s Impact 360 for RFS WFM Analysis solution in over 5,000 branches to capture and analyze the top 50 teller transactions, and monitor and measure performance against standards. As a result, the bank was able to:
- View process duration and variability, identifying common mistakes and measuring the impact of technology and process improvement.
- Measure the impact of additional business optimization initiatives.
- Streamline transactions, saving time and creating additional teller capacity.
Bank executives project $25 million in savings over three years due to increased teller productivity.
Verint Witness Actionable Solutions
www.verint.com