TTEC Digital Awarded PenFed Credit Union Contract for Genesys Cloud Migration
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Insights
In the context of customer experience (CX) and technological innovation within the financial services industry, the partnership between TTEC Holdings Inc. and PenFed Credit Union signifies a strategic move towards enhancing digital infrastructure. TTEC's implementation of Genesys Cloud indicates a shift towards cloud-based solutions that are becoming increasingly vital for businesses aiming to scale their operations and improve customer service efficiency.
From a market research perspective, this collaboration is likely to set a precedent for other financial institutions, as they observe the benefits of integrating advanced platforms like Genesys Cloud with customer relationship management tools such as Salesforce. The use of TTEC Digital's OneView SaaS integration could potentially lead to a new standard in the industry, optimizing the omnichannel customer experience and agent productivity.
The decision by PenFed to upgrade its member services contact center platform could also be seen as a response to the growing demand for seamless digital interactions in the financial sector. This could ultimately contribute to higher member satisfaction and retention rates, which are critical metrics for the success of credit unions.
The announcement of TTEC Holdings Inc.'s contract with PenFed Credit Union to modernize its contact center platform can be expected to have positive financial implications for TTEC. Given the size and reputation of PenFed as the nation's second-largest federal credit union, this deal may be viewed favorably by investors and could potentially lead to an uptick in TTEC's stock price.
Investors should note that the adoption of Genesys Cloud through TTEC's services might result in operational cost savings for PenFed over time, due to increased efficiency and reduced need for physical infrastructure. The integration with Salesforce through TTEC Digital OneView could also enhance data analytics capabilities, leading to more personalized customer service and potentially higher cross-selling opportunities.
The long-term relationship between TTEC and Genesys, coupled with multiple Partner of the Year recognitions, suggests a deep expertise in deploying such solutions, which could translate into a competitive advantage and recurring revenue streams from managed services and software enhancements.
The technical aspects of the contract between TTEC Holdings and PenFed Credit Union involve the migration to Genesys Cloud, which is a significant advancement in terms of scalability, reliability and flexibility of voice communication services. Genesys Cloud is an industry-leading contact center as a service (CCaaS) platform that enables businesses to deliver comprehensive omnichannel experiences.
Furthermore, the proprietary integration of TTEC Digital's OneView with Salesforce is noteworthy as it represents a sophisticated approach to streamlining agent workflows and customer interactions. This level of integration is indicative of the ongoing trend in CX technology where AI, CRM and CCaaS converge to create a more efficient and responsive customer service environment.
The expertise TTEC holds in both Genesys and Salesforce platforms, paired with their own intellectual property, positions them as a leader in the CX technology space. This not only enhances PenFed's capabilities but also showcases TTEC's ability to drive innovation in customer experience solutions.
"We have worked with TTEC Digital for over five years, and we are confident they have the expertise with Genesys and with third-party technologies like Salesforce to move our voice channels seamlessly to the cloud while maintaining a positive, omnichannel experience for our valued members and employees," said PenFed Credit Union EVP, CIO Joseph Thomas.
According to Dave Seybold, CEO of TTEC Digital, "We are committed to the credit union industry, and we are excited to strengthen our partnership with PenFed. As one of the largest and most respected credit unions in the country, PenFed is dedicated to helping its members achieve their dreams and TTEC Digital is proud to be part of that journey."
In addition to voice channel migration, TTEC Digital will provide integration between Genesys Cloud and Salesforce through TTEC Digital OneView, a proprietary SaaS integration that improves both speed and quality of service through a unified agent experience. OneView is part of TTEC Digital's Intellectual Property (IP) & Software Engineering practice, which designs and develops technology solutions that enhance customers' CX platforms with features that advance productivity and the experiences delivered at the nexus of CRM, CCaaS and AI.
"We're pleased that PenFed is collaborating with TTEC Digital to kick off a new era of innovation by modernizing their member services contact center platform to the industry-leading Genesys Cloud platform," said TTEC Digital Global Leader, Customer Experience Solutions Bryce Gibson. "We're proud of our long-standing relationship with both PenFed and Genesys. We're excited to leverage our own intellectual property in addition to our Genesys and Salesforce expertise to help PenFed move forward in their commitment to providing unparalleled service and support to their valued members."
TTEC Digital has more than 25 years of partnership with Genesys and previously earned Partner of the Year recognition 13 times. TTEC Digital offers a wide range of AI-enabled solutions and managed services, including contact center modernization, workforce enablement enhancements, customer experience transformation, and data and analytics solutions.
More information about TTEC Digital's partnership with Genesys is available online at: TTECDigital.com/partners/genesys.
About TTEC
TTEC (pronounced T-TEC) Holdings, Inc. (NASDAQ:TTEC) is a leading global CX (customer experience) technology and services innovator for AI-enabled digital CX solutions. Serving iconic and disruptive brands, TTEC's outcome-based solutions span the entire enterprise, touch every virtual interaction channel, and improve each step of the customer journey. Leveraging next-gen digital technology, the company's TTEC Digital business designs, builds, and operates omnichannel contact center technology, CRM, AI and analytics solutions. The company's TTEC Engage business delivers AI-enabled customer engagement, customer acquisition and growth, tech support, back office, and fraud prevention services. Founded in 1982, the company's singular obsession with CX excellence has earned it leading client, customer, and employee satisfaction scores across the globe. The company's over 60,000 employees operate on six continents and bring technology and humanity together to deliver happy customers and differentiated business results. To learn more visit us at https://www.ttec.com
About PenFed Credit Union
Established in 1935, Pentagon Federal Credit Union (PenFed) is America's second-largest federal credit union, serving 2.9 million members worldwide with nearly
CONTACT: Marjorie Chimes, marji.chimes@ttec.com
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SOURCE TTEC Holdings, Inc.
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