MAM
Fibe reduces customer service turnaround time by 99 per cent
Mumbai: Fibe (formerly EarlySalary) Fintech, has significantly enhanced customer experience and has reduced the response time by 99 per cent. Through its association with Locobuzz, a CX management platform, Fibe has improved the efficiency and effectiveness of its customer interactions, thereby boosting brand loyalty.
With over 5 lakh active customers, Fibe handles over 10,000 monthly conversations. With an aim to efficiently manage the influx of customer interactions, Fibe sought the services of Locobuzz’ unified CX platform. The primary objective of the association was to proactively engage with inquiries, requests, and feedback across various digital channels, while effectively tracking untagged mentions, managing multi-channel conversations, and gaining competitive insights.
The platform empowered Fibe with a comprehensive suite of tools including:
● Social listening: Enabled tracking of 100 per cent mentions, including untagged and viral content, ensuring no query went unnoticed.
● Sentiment analysis: Enhanced understanding of customer emotions, allowing for prompt and effective response.
● Competitor tracking: Provided valuable insights into competitor strategies and campaign effectiveness, allowing Fibe to refine its own approach and stay ahead of the curve.
● SSRE (social service response engine): Automated social media response management, ensuring swift and consistent customer service.
● DIY dashboards: Empowered data-driven decisions with customised reports and key metric monitoring.
Fibe leveraged Locobuzz’s solutions to significantly improve its response time across various digital touchpoints. The robust tools contributed to Fibe successfully reducing its customer service turnaround time from 96 hours to an impressive 45 minutes. The SSRE further heightened the efficiency, ensuring SLA (service level agreement) closure within just 1 hour and 9 minutes. These improvements, coupled with effective social media engagement, significantly elevated Fibe’s Social Reputation Score, thereby strengthening the brand advocacy.
Fibe founding member and head of marketing Sudesh Shetty, said, “Fibe has always remained committed to provide a superior and seamless experience to its customers. The Locobuzz platform has further propelled our customer-first approach and enabled us to authentically engage with our audience, gain a competitive edge, and make data-driven decisions. We will continue to enhance our monitoring tools and response time to take our brand to newer heights.”
Locobuzz co-founder & COO Shubhi Agarwal, explained, “Fintech service providers are at a pivotal juncture, where the surge in internet services aligns seamlessly with the escalating need for digital customer support.” “It’s a privilege for us to partner with Fibe in crafting unparalleled customer experiences across digital channels. By leveraging the power of automation and AI within the Locobuzz unified platform, Fibe can adeptly handle extensive customer inquiries and reviews, paving the way for long-term service enhancements based on deep insights.”
Fibe’s partnership with Locobuzz has been instrumental in their success on social media. Locobuzz has provided them with the tools and insights to engage with their audience effectively, analyse competitor activity, and make data-driven decisions for their social media strategy and marketing campaigns. Fibe is solidifying its position as a leader in the FinTech space by forging lasting connections with its young, tech-savvy customer base.
Through its association with Locobuzz, a CX management platform, Fibe has improved the efficiency and effectiveness of its customer interactions, thereby boosting brand loyalty.
Brands
Kotak Mahindra Bank appoints Ramesh Iyer to board
Veteran financier replaces Ashok Gulati, who retires in March
MUMBAI: Kotak Mahindra Bank has announced a change to its board of directors, with independent director Ashok Gulati set to retire at the end of his term on 5 March.
The company said it has appointed Ramesh Ganesh Iyer as an additional and independent director for a four-year term, effective 17 February, subject to shareholder approval.
Iyer brings more than four decades of experience in financial services. He spent much of his career at Mahindra & Mahindra Financial Services, where he served as vice chairman and managing director before taking on the role of president for the financial services sector and member of the group executive board at Mahindra & Mahindra. He retired from the group in April 2024.
During his tenure, Iyer was instrumental in expanding rural and inclusive finance initiatives, scaling the company’s assets and customer base. He also led the creation of subsidiaries in rural housing finance, insurance broking and asset management, and oversaw international joint ventures.
Iyer holds a commerce degree and a doctorate of letters, and currently serves on the boards of several listed and unlisted companies.
The board meeting approving the changes was held in Mumbai on February 17 between 6.30 pm and 6.50 pm.
