Creating an International RoadmapOctober 3, 2004

Creating an International Roadmap:

Overcoming the Challenges of Deploying Speech Globally

Amy E. SymmsVP, Global Operations & TechnologyGE Consumer Finance

Creating an International RoadmapOctober 3, 2004

Overview of GE

• A major, global, diversified

player

• Among the world’s best

companies

• 20-year history of

consistent, substantial

financial growth in financial

services

Creating an International RoadmapOctober 3, 2004

Energy

Advanced Materials

InsuranceConsumer & Industrial

Equipment Services

NBC Universal

Cash Generators

Growth Engines

Genworth IPO

The New GE

Commercial Finance

Transportation Infrastructure

Consumer Finance

Healthcare

Creating an International RoadmapOctober 3, 2004

41 Countries = 106MM+ Customers, $108B Assets

• Czech Republic

• Denmark

• Finland

• Norway

• Poland • Portugal • Romania

• Slovakia

• Slovenia• Spain

• Sweden

• Switzerland

• USA

• Argentina• Australia

• Austria

• Brazil

• China

• Germany• Hong Kong

• Hungary

• Ireland

• India• Indonesia

• Italy

• Japan• Korea

• Mexico

• Taiwan• Thailand

• United Kingdom

• New Zealand

• Canada

• Singapore• DOMS

• Belgium

• France

• Latvia

• Russia

Creating an International RoadmapOctober 3, 2004

GE Consumer Finance

• 41 countries, 180 customers> Lowes > Harrods

> Gap > Tesco

> JCPenney > Coles Meyer

> Walmart > Hyundai

• Over 106 million account holders, $108 billion in assets

• Products include private label credit cards, personal loans, bank cards, and more

• Sales and service through multiple touch points

Creating an International RoadmapOctober 3, 2004

Corporate Initiative:

Turn Call Centers into Profit Centers

• 216 million inbound calls

expected in 2004

• 9 million potential Service to

Sales transactions

• Opportunity over $13 billion

Creating an International RoadmapOctober 3, 2004

Technical Objective:

Use Speech to Improve Productivity

• Eliminate call hold times

• Enable natural conversations

• Decrease abandon rates

• Expand customer reach

(cell or pulse)

• Most important to profit

generation:- Extend reach

- Increase opportunity to cross sell

- Reduce operating expenses

Creating an International RoadmapOctober 3, 2004

U.S. Pilot:

Change of Address

Authorizations 7%

Credit Cards 9%

Changes/ Fees 11%

Applications 11%

Name/Address/Phone Changes 12%

Payments 14%

Balance or Refund 12%

Close Account Requests 12%

Credit Limit 12%

Total Call Types to The Floor

Total Call Types to The Floor

% IVR Utilization% IVR Utilization

Touch Tone IVR – at Entitlement

Touch Tone IVR – at Entitlement

42.4%44.9%

54.1%53.3%52.2%

0

20

40

60

80

100

1999 2000 2001 2002 2003

# o

f C

all

s (

MM

)

0%

10%

20%

30%

40%

50%

60%

IVRIVR Total CallsTotal Calls

Creating an International RoadmapOctober 3, 2004

U.S. Pilot:

Change of Address

• COA – Target on a Call to Floor (no IVR interaction)

• Pilot a success:

- 80% of all callers tried speech

- 90% speech recognition rates

• Next step: Customer Service

- 29 applications in all

Creating an International RoadmapOctober 3, 2004

Rollout to U.S. Customers

• Expand across retailers

• Focus on technology

hurdles

- Customer acceptance

- Customization

Creating an International RoadmapOctober 3, 2004

A Different Game Outside the U.S.

• Multiple languages

• Naming conventions

• Cultural norms

• Availability of postal data

Creating an International RoadmapOctober 3, 2004

U.K. Pilot:

Speech Used to Authenticate Callers

• 75% of callers opted to try speech

• 94% speech recognition accuracy

• Improved authentication rates

• Improved IVR effectiveness

• Proved speech works

• Significant savings anticipated

Creating an International RoadmapOctober 3, 2004

Call Flow:

Authentication

Please enter your Card Number or

your Membership Number

Recognize?More than3 times?

Is it 12345678?

Recognize?

Yes

No

More than3 times?

Next guidance

Yes

No

Yes

No

Transfer to Operator

No

Yes

Transfer to Operator

On the third time, announce that the caller may use touch tone.

On the third time, announce that the caller may use touch tone.

Creating an International RoadmapOctober 3, 2004

Japanese Pilot:

Speech Streamlines Centralization

• Speech for authentication

• Enabled centralization

• Challenges included:

- Anticipated volume

- Large hang-up rate (50%)

- Multiple dialects

Creating an International RoadmapOctober 3, 2004

Achieving Success:

Speech in Support of Corporate Strategy

• Drive productivity

• Pilots created buy-in

• Standardizing across sites

• Tailored for clients

Creating an International RoadmapOctober 3, 2004

Our Success is Measured in:

• Strong performance

• Completion rate- IVR effectiveness

- Productivity

• Objectives met- Data on increased sales

• Cost / Benefit- GE requires ROI in 12 months

or less

Creating an International RoadmapOctober 3, 2004

Poland

Australia

France

U.K.

Mexico

Germany

Q3-Q4Q1-Q2

More International Rollouts in 2005