Oriental Bank reduces wait times 50% and increases service with BookingBug
June 19, 2018
2 minute read
BOSTON, MA-- OFG Bancorp’s (NYSE:OFG) 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, the world’s leading Time-as-a-Service™ (TaaS) platform with appointment scheduling, queuing and event capabilities.
As a result of employing BookingBug, Oriental customers can use the bank’s online site or mobile app to make appointments at the time and branch of their choice to meet with product and service specialists. The tool sends reminders and allows for cancelation 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, SVP Retail Strategy of 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.”
Oriental develops technology in-house or turns to best of breed providers such as BookingBug, an enterprise Time-as-a-Service platform used by some of the world’s largest banks, retailers and government agencies.
“Effective use of data is transforming banking,” said Glenn Shoosmith, CEO, BookingBug. “Our platform creates a comprehensive understanding of workflow across all of Oriental’s key channels, providing quantitative insight into customer behavior. 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.
About OFG Bancorp
Now in its 54th year in business, OFG Bancorp is a diversified financial holding company that operates under U.S. and Puerto Rico banking laws and regulations. Its three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance, provide a wide range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico. Investor information can be found at www.ofgbancorp.com.