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Oriental Bank Reduces Wait Times by 50 Percent, Increases Service with BookingBug

June 19 — San Juan, Puerto Rico-based OFG Bancorp’s Oriental has significantly reduced wait times in its bank branches and increased the speed of customer service over the last year with the help of BookingBug, a time-as-a-service (TaaS) platform with appointment scheduling, queuing and event capabilities.

Oriental customers can now use the bank’s online site or mobile app to make appointments at the time and branch of their choice, scheduling meetings with product and service specialists. The tool sends reminders and allows for cancellation or rescheduling, enabling Oriental to anticipate service demands to better allocate resources. Through May 2018, Oriental customers have used the bank’s deployment of BookingBug to make more than 500 appointments on an average monthly basis, with initial studies showing wait times have dropped more than 50 percent.

Oriental’s BookingBug deployment is the latest in a series of digital channel solutions making access to the bank’s retail and commercial products and services quick and easy. The effort, which began in 2013, has resulted in more customers, new loans, growing deposits and has differentiated Oriental’s value proposition. In less than a decade, the bank has become the third largest in Puerto Rico, up from ninth.

“Converting manual and paper processing to digital is transforming the banking industry,” said Debbie Sabater, senior vice president of retail strategy for Oriental. “BookingBug has helped us handle high demand for our products and services while maintaining our classic, value-added personal touch with customers every step of the way.”

“Our platform creates a comprehensive understanding of workflow across all of Oriental’s key channels, providing quantitative insight into customer behavior,” said BookingBug CEO Glenn Shoosmith. “This facilitates highly effective planning and time management while ensuring Oriental is one step ahead of digital transformation that is happening at every level of the banking industry.”

Recent data shows that allowing customers to schedule in-branch appointments builds customer relationships within financial services; 59 percent of consumers in the U.S. and 61 percent of consumers in the U.K. are interested in setting up an appointment at a bank before they visit.

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