Financial Services call centers, such as those that help the Insurance industry or the Banking Industry, focus on the three basis stages of a customer relationship:

Acquisition ¨C the process of finding and qualifying a customer.

- Doing lead generation for an insurance quote.

Transaction ¨C the process of transacting fees for goods or services

- Having someone pay their bills with online banking.

Maintenance ¨C the process of retaining a customer so he continues to engage in additional transactions.

- Helping someone continue their internet banking process.

Financial Service call centers can be found in the following industries:

• Banks
• Credit card companies
• Insurance agencies
• Insurance companies
• Mortgage Lenders and Brokers
• Stock brokerages

Financial call centers need to reliably verify account holders in order to ensure accuracy in carrying out financial transactions for clients. Existing verification methods are cumbersome and time-consuming, requiring PIN codes and authentication questions.

Financial Services Call Centers Experience high Employee Turnover Rate

Call center studies in the financial services sector find that the annual turnover rate is as high as 39%. This turnover rate translates into hundreds of millions of dollars in hiring, training and overhead costs every year.

Employee treatment is one reason for high turnover. Many call centers treat their workers as "second-class employees" by providing lower pay and reduced benefits. Additionally, many call centers with high employee turnover segment their workers, a practice that makes it difficult for employees to cross-train or advance within the company.

If you are considering outsourcing to a financial service call center, ensure how training is handled, how they address turnover, and how they charge for new employee training to replace the turnover staff.

For a good directory of finance service firms broken down by car loans, credit cards, life insurance, car insurance, consumer loans, and mortgage loans, check out the American Financial Services Association site:

Mortgage Lead Generation. Please check out the Mortgage Lead Generation Directory for further information about Outbound Call Centers and Online firms that provide telemarketing mortgage leads and internet mortgage leads.