Credit Union of Colorado Reduces Abandonment Rates with Fonolo Call-Backs

PRESS RELEASE: Fonolo, the company that improves the call center experience by replacing hold time with a call-back, announced that Credit Union of Colorado has implemented its innovative call-back solution which has resulted in a reduction in abandon rate, an improved calling experience, and increased agent morale.

With 15 branches, 250 employees and 35 call center agents, Credit Union of Colorado is focused on delivering superior member service. After adding Fonolo’s In-Call Rescue solution to its call center, members can now “press 1 to receive a call-back” rather than wait on hold, without losing their place in line. When their turn arrives, the member’s phone will ring and there will be a live agent on the line.

You just can’t plan for unforeseen events in the contact center. Sadly, when the events do take place the result is a frustrated member. The fact that we could add Fonolo without it being a major project made this a simple decision. Fonolo is our safety net, when unforeseen events take place we know it won’t be at the expense of the member experience,” said Laura Reinhold, MSCC Manager, Credit Union of Colorado. “The call center environment is completely improved and agent morale is up. We love the Fonolo portal as it allows us to share these stats with our agents. It completely alleviated stress because we know members are going to be happier, making it easier for agents to do their jobs.

After implementing Fonolo, Credit Union of Colorado decreased its abandonment rate by an average of 40%. One month in particular, the abandonment rate dropped by 49%. The contact center benefited in terms of cost savings and efficiencies and members are thrilled with the improved calling experience – truly a win-win situation.

We’re extremely happy to be a part of the customer experience strategy at Credit Union of Colorado,” said Shai Berger, CEO, Fonolo. “Our mission at Fonolo is to make it easy for call centers to add features like call-backs, virtual queuing and visual IVR with minimal effort. These extraordinary results illustrate that contact centers can immediately benefit from a cloud-based approach.

Credit Union of Colorado began offering Fonolo’s call-back solution to its members in July, 2015.