Exhibit 169 — BofA Ca Unemployment (Dkt. 378.14)

Summary

Exhibit 169, filed November 21, 2024 as Document 378-14 in Case 3:21-md-02992-GPC-MSB, reproduces pages of ContactBabel's 2024 report US Contact Center Vertical Markets: Finance. It says finance agent attrition rates have been higher than the industry average since 2021, perhaps as the sector's salaries fall further behind. The average speed to answer in finance operations rose from 22 seconds in 2013 to 227 seconds in 2022, a rate of increase much higher than the industry average, and it remains high in 2023.

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Case 3:21-md-02992-GPC-MSB Document 378-14 Filed 11/21/24 PagelD.14397
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Exhibit 169
Case 3:21-md-02992-GPC-MSB Document 378-14 _ Filed 11/21/24 PagelD.14398
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CONTACTBABEL

US Contact Center Verticals:

Finance

Sponsored By

W
Case 3:21-md-02992-GPC-MSB Document 378-14 Filed 11/21/24 Pagalb.14399

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CONTACTBABEL

US Contact Center Vertical Markets: Finance

© ContactBabel 2024

Please note that all information is believed correct at the time of publication, but ContactBabel does not
accept responsibility for any action arising from errors or omissions within the report, links to external
websites or other third-party content.
Case 3:21-md-02992-GPC-MSB Document 378-14 Filed 11/21/24 Pagalb.14401
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y CC‘
CONTACTBABEL

AGENT ATTRITION

Financial services agent attrition rates show a recent pattern of increased attrition rates in recent years,
being higher than the industry average since 2021, perhaps as the sector’s salaries fall further behind.

Figure 13: Average Finance annual agent attrition rates, 2012-23

Average Finance annual agent attrition rates, 2012-23
40%

% 31%
35% © 33%

29%

30% 30%
30% as 29%

31%

27% 27%

25%

20%

37% 37%

32% ~~ 33%
15%

29% 28%

24% 25%

10% = Fite

5%

0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Case 3:21-md-02992-GPC-MSB Document 378-14 Filed 11/21/24 Pagalb.14402
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A,
CONTACTBABEL

SPEED TO ANSWER

The average speed to answer in finance operations rose from 22 seconds in 2013 to 227 seconds in
2022, a rate of increase that is much higher than the industry average. It remains high in 2023.

Financial services contact centers can generally be seen to have a considerably higher average speed to
answer than the US contact center industry as a whole, being higher than the overall average for all of
the past nine years, and seeing major increases in the years of the pandemic.

Speed to answer is still one of the most important factors to customers calling a contact center, so this is
negative for the customer experience as a whole.

Figure 17: Finance contact centers: average speed to answer, 2012-23

Finance contact centers: average speed to answer (2012-23)
250

200

150

seconds

318 101 py,

100 75

79

50 43
31 34

22
0

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023


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