E-LOAN, the Internet lending division of Banco Popular North America, is a nationwide online financial services company offering home mortgage, home equity, and auto loans along with high yield savings and certificates of deposit (CDs). E-LOAN employed speech analytics with the clear objective to reexamine its sales process and employee performance in order to increase its revenues.
Before implementing speech analytics technology, E-LOAN had no cost-effective, systematic means of monitoring or assessing its sales performance. It was difficult to measure all the agents and their skills across the board, and there was no clear-cut method to determine the effectiveness of its sales process. Although E-LOAN wanted to improve its performance to increase its revenues, it had insufficient data with which to determine the actions they needed to accomplish these goals.
E-LOAN then turned to speech analytics technology and through the data gathered by speech analytics, E-LOAN was able to identify the skills that best differentiated the top performers from the bottom performers. These were the skills that E-LOAN needed to focus on when coaching its bottom performers and training new agents to ensure high sales conversion.
Read on to learn what benefits E-LOAN experienced from turning to speech analytics and how your company can experience these benefits too.