SoFi is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. The company’s full suite of financial products and services helps its more than 8.1 million SoFi members borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. SoFi also equips members with the resources they need to get ahead – like credentialed financial planners, exclusive experiences and events, and a thriving community – on their path to financial independence.

SoFi Profile

• Over 8m members
• $73B+ in funded loans
• 4,400 employees

CHALLENGE

Financial loans are complicated processes for both agents and members, ripe for bad experiences

Loan applications are notoriously complicated, involving a lot of information and documentation. Imagine trying to fill out an entire application online, only to get a message that your application is incomplete – you forgot one step, but you’re unsure where. You need help, but getting on the same page as the loan officer trying to guide you is nearly impossible when there are so many variables. It’s like finding a needle in a haystack.

When helping members navigate loan applications, SoFi wanted to ensure they felt valued and supported. The financial services leader also recognized that improving the agent experience (AX) was key to enhancing the overall member experience (CX). So they set out to do both: improve satisfaction and speed across the board for a better experience for agents and members.

While we put a lot of effort into the member journey, it's also the agent journey. We want to ensure our agents have the tools and support they need to succeed.

Kimberly Miller, Sr Program Mgr, Operations Transformation  

APPROACH

Guided CX helps agents and members get on the same page

SoFi partnered with Glance in 2020 to empower their agents with Guided CX technology. SoFi agents began using Glance's Guided CX capabilities to view members’ screens and swiftly address issues. This real-time collaboration helps reduce friction in complex scenarios, including:

• Completing loan applications
• Troubleshooting technical issues
• Assisting with profile management

“Glance is the first thing I go to when members call and inquire about issues,” said Meghan Morrow, Associate Manager, SoFi. “Members have been so appreciative that we can easily guide them forward so their questions can be resolved in a timely manner during the interaction instead of trying to troubleshoot blind.”

Let’s go back to that online loan application scenario. You’re stuck in the process, but you’re not sure where things went wrong. Instead of spending hours on the phone with an agent, Glance allows the SoFi agent to join you on your screen, pinpoint exactly where the problem is, and help you confidently complete your application process. Simple. And Glance blocks sensitive information from the agents’ view, so you can trust that your personal data remains confidential.

Instant understanding in Genesys Cloud

After receiving positive feedback, SoFi made it even easier for their agents and members to connect and collaborate in a co-browsing session. In 2023, SoFi transitioned to Genesys Cloud to offer a seamless omnichannel experience. They leveraged Glance for Genesys Cloud, enabling agents to instantly join members in a collaborative environment from the Genesys Cloud digital agent workspace.

RESULTS

Happy agents, happy members

SoFi’s use of Glance’s Guided CX solutions has significantly streamlined processes and improved overall performance metrics.

• 12X faster service
• Higher CSAT
• Higher NPS 

Improved Average Handle Time (AHT)

Glance's solutions have drastically reduced the average handle time for agents. One agent reported tasks that previously took an hour now only take five minutes, showcasing a 12x improvement in efficiency.

• Efficiency Boost: 12x faster task completion
• Reduced AHT: member service representatives estimate 50% reduction in AHT

Glance cuts handle time down at least in half. It makes my job easier, and the member is happy because they expected to be on the phone for hours but it took just minutes.

Sherrie Barnum, Member Service Representative

Enhanced member experience (CSAT)

By simplifying complex financial processes, Glance has improved the member experience at SoFi. This ease of use has resulted in higher customer satisfaction scores (CSAT).

Higher satisfaction means stronger loyalty. Positive experiences fostered by Glance's solutions encourage members to deepen their relationships with SoFi, exploring and utilizing additional financial products.

• Simplified processes: Complex financial tasks made easy
• Higher satisfaction: Improved CSAT scores
• Relationship growth: Members are more likely to use additional financial products

Improved agent experience

Glance's tools provide agents with greater clarity and efficiency, reducing the number of troubleshooting tickets and improving their overall experience.

• Clarity: Better tools for clearer task execution
• Reduced tickets: Fewer troubleshooting tickets needed
• Agent satisfaction: Improved agent morale and performance
• Improved benchmarks: Higher Net Promoter Score (NPS)

I've had nothing but positive experiences with Glance. It's a great tool and it cuts down on average handle time.

Colin Worley, Associate Manager

LOOKING AHEAD

Furthering SoFi’s commitment to helping its members with mobile

As SoFi looks to the future, plans to expand the use of Glance to their mobile app promise to deliver the same level of efficient and supportive service to mobile users. The partnership with Glance exemplifies SoFi's dedication to providing fast, friendly, and reliable assistance, solidifying its position as a leader in member satisfaction within the financial services industry.