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Caja Madrid Speech Analytics Wins The Banker Technology Award 2008

SAN FRANCISCO-(Business Wire)-September 4, 2008 - UTOPY, Inc., the leading provider of Customer Intelligence and Performance Optimization solutions powered by Speech Analytics, today congratulates Caja Madrid, the leading retail bank in Spain, for being awarded the Banker magazine’s Technology Award 2008 for Customer Service and Marketing. This latest industry endorsement confirms the intrinsic value and competitive advantage UTOPY SpeechMiner delivers to contact centers and enterprises alike.

Caja Madrid Recognized for its Innovative Deployment of Speech Analytics

Each year, The Banker magazine, published by the Financial Times, bestows honors on the most innovative projects of the world’s top financial institutions. The Technology 2008 awards are given to leaders in the global financial sector for excellence and innovation in banking technology that delivers sustainable value to the ever-changing needs of the business.

Caja Madrid, the first Spanish financial institution to deploy speech analytics, has been awarded the 2008 Customer Service & Marketing category award, for its innovative and effective use of existing assets from its contact centers.

All customer calls received by its contact centers are automatically analyzed for insight on customer expectations, intentions, complaints and satisfaction levels, as well as agent performance and adherence to policies. This information is then used to improve its customer service, measure contact center efficiency and detect up-sell opportunities.

The winning Speech Analytics project, using UTOPY SpeechMiner, is implemented by FONETIC, a Spanish system integrator specializing in contact center operations and optimization. This project falls under Caja Madrid’s Technology Plan 2007-2010 and demonstrates Caja Madrid’s strong commitment to utilize technology to improve the customer experience.

Tapping the Voice of the Customer to Drive the Customer Experience

Indalecio Gil, Channels Director for Caja Madrid, outlines the project, “Every call that comes into the contact center is automatically analyzed to identify the reason the customer called and determine whether his issue was resolved using the appropriate response in a courteous manner. In addition, the software can identify situations where the customer is dissatisfied, which are often opportunities to design new services or to modify processes that are not working from a customer perspective.”

Combining the root cause analysis performed by speech analytics with other customer information, one out of every four customers is automatically selected to receive a survey call after the interaction ended, to assess their level of satisfaction with the service received. Each survey response is then linked with the original call, closing Caja Madrid’s “quality of service - customer satisfaction and feedback” loop. Further analysis of this feedback enables Caja Madrid to uncover experiences that are valued by customers and those that provokes customer dissatisfaction.

“This project demonstrates that there is a very productive source of innovation based in identifying and exploiting internal (and not always obvious) assets,” added Gil, in his interview with the Banker magazine. In addition, he emphasizes that “Our organization measures its returns on this investment not only in terms of quantitative improvements in efficiency and effectiveness, but also in the qualitative aspects associated with increased customer satisfaction. Our customers are our top priority. Our day-to-day work is to have satisfied customers and the best way to achieve this is to offer a better customer service and experience.”

About UTOPY

UTOPY provides award-winning Customer Intelligence and Performance Optimization solutions powered by Speech Analytics, delivering the Voice of the Customer to enterprise decision-makers. With UTOPY solutions, free-flowing human conversations are transformed into actionable insight to strategically enrich the customer experience, optimize contact center performance, improve sales effectiveness and uncover competitive threats. UTOPY customers include innovative market leaders in financial services, insurance, healthcare, telecommunications, outsourcing, and retail.

Headquartered in San Francisco, CA, with offices worldwide, the UTOPY team has extensive experience in speech analytics, business intelligence, contact center operations and business process improvement. Please visit www.utopy.com or www.speechanalytics.com or call 866.44.UTOPY (866.448.8679).

UTOPY, SpeechMiner, SpeechMiner Enterprise, SpeechMiner Root-Cause, SpeechMiner Customer Satisfaction and Deliberate Listening, are registered trademarks of UTOPY, Inc. All other trademarks mentioned here are the properties of their respective owners.

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